In April 2013, following the liberalization of securities regulation, the U.S. government signed an act into law which finally legalized equity-based crowdfunding in this market. With the U.S. being the largest equity financing market in the word, the new law presented great opportunities for equity crowdfunding companies such as Symbid, looking to expand their operations internationally. Symbid, a Dutch start-up active in the global crowdfunding market, was established based on the foundations of a new financing system that allowed the company to set the stage for equity-based crowdfunding in Europe. Once the company’s reputation was well established in the Dutch market, Symbid embarked on a subsequent journey with the aim of expanding their business through internationalization. Following a range of both successful and unsuccessful strategies, Symbid was now looking at entering the U.S. market. Faced with substantial competition, the company had only one shot to perfect their entrance strategy, leaving Symbid with a challenge that could determine its future.The case confronts the reader with the challenge of Symbid in entering the previously uncontested U.S. market, by considering either a niche marketing strategy directed at female entrepreneurs, or a mass marketing approach. The main case compares these two approaches. And the B Case elucidates the actual decision that Symbid has made. Aside from highlighting the internationalization process of a start-up, the case also provides a picture of entrepreneurial financing and the importance of equity-based crowdfunding.

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RSM Case Development Centre
Erasmus Research Institute of Management

Dvorak, J., van Houwelingen, J., Klipper, M., Paulsson, M., & Hulsink, W. (2014). Equity Crowdfunding: Symbid Entering the U.S. (B). RSM Case Development Centre. Retrieved from