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Dublin: 8 °C Tuesday 21 October, 2014

Kickstarter reaches milestone by raising $1 billion in pledges

In its five year history, the crowdfunding site saw more than half of the $1 billion pledged in the last twelve months.

More than $10 million was pledged to the Pebble Smartwatch back in 2012
More than $10 million was pledged to the Pebble Smartwatch back in 2012
Image: Pebble Technology/Vimeo

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.

Read: Following the crowd: How crowdfunding changed the way projects are made >

Read: Long-lost twins appeal for more money to complete film about incredible reunion >

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