kickstarter

Kickstarter is the Media Darling of Crowdfunding Sites

by

May 22, 2012

An off-the-cuff remark by Huffington Post founder Arianna Huffington gave Kickstarter an unexpected endorsement recently in Paid Content. It is just one mention in the press that Kickstarter has received in the past couple of weeks as its star rises in the world of crowdfunding. The crowdfunding site seems to have moved into top spot, if measured only by media buzz and attention.

 

Huffington was fielding questions about a possible billion dollar buyback of her publishing company from AOL in an article published in Paid Content and she said that she was mulling using Kicstrarter to raise the money. It was a joke because the most raised by one company on the platform is the 10.2 million dollars raised by a project called Pebble which is proposing an e-Paper iPhone and Android watch.

 

Kickstarter was also profiled by the New York Times in a report that says it has moved away from its roots to become a spot for startup companies to raise money. Kickstarter was also profiled by TPMIdealab  where it was reported that the platform has successfully funded 21,922 separate projects.

 

A project is successfully funded on Kickstarter when it reaches an arbitrary, pre-determined fundraising goal set by the project creator within a set window of time, usually about a month.

 

According to the NYT article USD200 million was raised for 20,000-plus products, out of about 50,000 projects. Kickstarter itself has earned about USD10 million from hosting the projects on its website. (Image Source: Pebble Technology)

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