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JUST BEFORE IT reached its fifth anniversary, crowdfunding platform Kickstarter reached a milestone after it passed the $1 billion mark (€726 million).
The crowdfunding site, which was launched back in April 2009, has seen 5.7 million donors pledge funds to projects on the site.
When it started, its users raised nearly $3,900 in its first month and in the last twelve months, more than half of the $1 billion was raised.
Also, nearly 16,000 people backed more than 50 projects on the site. Its most successful category was Games which raised $216 million (€156 million).
The US was the biggest donor having pledged $663 million (€174 million), more than half of the projects funded on the site, while the UK came second with $54 million (€39 million).
By comparison, Ireland has seen 13,300 backers pledge $2.4 million (€1.7 million) to projects on the site.
Kickstarter is one of the biggest crowdfunding sites in the world alongside IndieGoGo and RocketHub. It’s seen numerous projects funded like the Pebble Smartwatch, the OUYA gaming console and Double Fine Adventure’s latest game, Broken Age.
The site has faced controversy over the last few years. Back in June, it pulled a campaign to fund a seduction guide from the site that promised to teach men how to get women into bed. Also, the problem of accountability was raised when a number of projects reached their funding targets but failed to be released.
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This is an amazing sum of money for a kick start backing from Ireland
I first discovered kickstarter last year when i spotted a film maker doing a programme on the roots of the Cajun French music tradition in Louisiana,as a big fan it was right up my street,so i contributed to the fund and am happy to say it is being now shown in major film festivals around the world,it was funded within the time scale and is now nearly debt free,if you are passionate about a project its
Love the way this works, at least you might stand a chance, of seeing your project through,without lots of loans, Its a Win-Win!
Agreed Orla!
100 relatives, friends and neighbours committing €200 each, could create the seed capital to bring a youngster’s business idea to reality.
There’s power in numbers, and always the chance of another STRIPE being created, and initial risk takers being handsomely rewarded for their punt.
have your say