Tapping of the crowd: The effect of entrepreneur engagement on equity crowdfunding success

Using a hand collected dataset of equity crowdfunding offerings from after the passage of Title III of the JOBS Act in the United States, we examine how an entrepreneur’s engagement with the crowd impacts the overall campaign’s success. We document that entrepreneur on-platform engagement with potential investors during a crowdfunding campaign significantly and positively impacts campaign success, after controlling for a host of factors previously documented to explain campaign success.