One flailing New York City bookstore made waves this week when it announced that it used an online funding website to help the business raise more than $26,000 to help cover its bills.
St Mark’s Bookshop, a bookstore that specializes in critical theory and academic works, used the crowd-sourcing website LuckyAnt.com to raise the funds necessary for the bookstore to pay down their debts owed and move to a cheaper location in the city.
This is the second time within the span of two years that the bookstore has used community assistance to stay in business. In 2011, St Mark’s Bookshop gathered more than 10,000 signatures on a petition demanding rent relief from its landlord, Cooper Union. The landlord eventually pardoned some of the bookstore’s debt and gave the business a $2,500 rent reduction.
Has anyone used online fundraising websites to save a business? Share thoughts below.