Abstract
Five years have passed since equity crowdfunding was introduced in Korea in 2016. In this article, I examine the growth, current states, and limitations of equity crowdfunding. Unlike previous studies that emphasized legal aspects, this study develops a discussion based on platform strategy. If innovative finance that connects individual companies with investors is the essence of crowdfunding, it would be of great significance to suggest academic, policy, and practical implications from the perspective of platform strategy. Furthermore, I believe that equity crowdfunding can provide an educational first step for individual investors who want to learn more about various investments. It is also hoped that investment will become a culture in Korea thereby accelerating the growth of venture ecosystem.
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