I’ve been going over the Pubslush site for the past couple of days, and I have to say that this is a trend that could actually be interesting not just as a means to secure some financial backing, but also as one that can help authors fine-tune their sales pitch. No, I’m not too sure about their publishing arm (they mention the fact that they have one, but there is little to no information about it), but the basic concept seems to be solid.
The basic premise is the one you would expect from a crowdsourcing site: you create as project, set some goals and rewards, as well as an allotted time frame, upload some content, and wait. There is a minimum $500.00 threshold, and if you reach it, you get the funds (minus 4%, plus processing fees), even if you fall short of your stated goal.
Of course, the question of whether crowdsourcing a book using what is, at least for now, a relatively obscure site can hope to reach all target audiences is a valid one, but seeing how the service is free it may well be worth a shot.