Online Financing Campaigns’ Comments: Insights from Crowdfunding Pitches

Wei Wang, Yenchun Jim Wu*

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contribution


Online financing projects allow users to post comments on projects including various topics in different stages. As a typical user generated content, due to the dynamic generation of comments on online financing projects, user will produce different text topics among various stages. Based on the comment text of online financing projects, this study analyzes the dynamic topics evolution in the online comments, considering both the time and topic factors. Using 5,405,498 comments from Kickstarter as corpus, dynamic topic model is employed, and the online comments are divided into two stages: antecedent stage and posterior stage. The experimental results show that, in the antecedent stage, the topics such as social promotion and content of the project are the mainstream. In the online comments after the financing, namely, posterior stage, there are huge differences in topics. The topics are distributed among the progress inquiry, fund usage, product discussion, etc. This phenomenon may be due to the differences between project schedules and reality. This study shows the dynamic changes of online investor’s concerns, which provides a channel for the analysis of online investment opinions.

Original languageEnglish
Title of host publicationResearch and Innovation Forum 2020 - Disruptive Technologies in Times of Change
EditorsAnna Visvizi, Miltiadis D. Lytras, Naif R. Aljohani
PublisherSpringer Science and Business Media B.V.
Number of pages9
ISBN (Print)9783030620653
Publication statusPublished - 2021
EventInternational Research and Innovation Forum, RIIFORUM 2020 - Athens, Greece
Duration: 2020 Apr 152020 Apr 17

Publication series

NameSpringer Proceedings in Complexity
ISSN (Print)2213-8684
ISSN (Electronic)2213-8692


ConferenceInternational Research and Innovation Forum, RIIFORUM 2020


  • Kickstarter
  • Online financing
  • Topic model
  • Topic over time
  • Topics extraction

ASJC Scopus subject areas

  • Applied Mathematics
  • Modelling and Simulation
  • Computer Science Applications


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