How Crowdfunding Stopped Houston Venue From Sinking

 

Zach PalmerZach Palmer runs Walter’s Downtown, known for its cold drinks and live music.

 

 

 

 

 

 

 

 

Known by locals as a destination place for live indie and underground rock concerts, the doors of Walter’s Downtown probably would have closed permanently last week, if not for the help of its supportive patrons.

Zachary Palmer took over running the place after his mother lost her battle with cancer last October. Medical expenses nearly crippled their finances and the club ended up in debt. He had a little over a week to come up with $20,000. So, he opened a crowdfunding site on Indiegogo.

“We’ve had a community of people for 15 years, coming to shows, who care about this place and it gave them an opportunity to save it. And, yeah, the crowdfunding platform was perfect for what we needed,” Palmer said.

The Houston Technology Center’s Maryanne Maldonado said this method of raising money is going to become even more common with time.

“Crowdfunding campaigns are just going to be more mainstream as we move forward. And so it’s definitely something that we’re seeing prevalent in our marketplace,” she said.

The site raised nearly $22,000 in eight days. Shortly before the deadline last week, Palmer woke up and discovered they were going to make their goal. It was his 26th birthday.