With the progress of Web 2.0 technologies and corresponding organizational capabilities, new information technology sourcing mechanisms emerged. Crowdsourcing is such a promising new form of sourcing, wherein organizations take a function such as innovation-focused product or software development and outsource it to an undefined and generally large network of people in the form of an open call. Despite the practical impact of crowdsourcing on organizations, research on this phenomenon remains scarce and our knowledge on critical success factors for crowdsourcing initiatives is still fragmentary. Our study addresses this gap in our knowledge by identifying, categorizing and analyzing 41 unique success factors for crowdsourcing initiatives based on a structured literature review. With this analysis, we provide important insights for managing crowdsourcing initiatives in practice and lay the groundwork for further knowledge generation on crowdsourcing, which needs to be detailed in further empirical research.