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Kickstarter Reaches $1B In Pledges – A Hint At The Future Of Funding?

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For the oblivious, Kickstarter is website that acts as a platform for creators (ranging from hardware to cartoons) to showcase their work and ask for money regarding the project. While the concept of crowdfunding is relatively new, many sites have launched that are showcasing this phenomenon.

Each project has the opportunity to tell the users what they are planning to do and how much money they need for it to be done. Kickstarter provides the readers the opportunity to give money to the project they like. While it is not necessary, generally there are perks for the people who fund the project. It range from a plain thank you to getting a custom device depending on the amount funded.

For example, if it is a hardware product, you can get a single product for $20 and a custom with sign of the creator and your name on it for $150. In between there will be various layers that give the option to spend as much as you want.

I have backed projects on Kickstarter more than once – movie, book, video series.

Not all projects succeed as it is selling yourself online and that needs a great idea and even better presentation. However, some products are truly remarkable and with backing of the people directly, do not need to go in front of any financer.

Yesterday, Kickstarter reached $1 Billion in pledges. This means that people have pledged or donated $1 billion (Upwards Rs. 6000 crore) to these creative projects now.

Kickstarter 1 billion pledges

This is incredible! The idea that a small business doesn’t need to put his fate in the hand of a single person but can simply put his idea in front of his audience and get them involved directly is powerful.

The sum that are asked are not menial in any sense as well. Many projects have crossed $1 million mark. In fact, Ouya – the android gaming console owes its root to Kickstarter. It is one of the highest funded projects on Kickstarter yet.

According to Kickstarter Website-

“$1 billion means that people care about new ideas and that sharing them with our friends, our families and the entire internet, can lead to some amazing stuff. Here’s to all of the great ideas of the world, all the ones yet to come, and all of you for being you. Thanks a billion.”

A few analyses done by Kickstarter-

  • 5,708,578 people have backed a Kickstarter project and come from 224 countries and territories, and all seven continents
  • 1,689,979 people have backed more than one project
  • 15,932 people have backed more than 50 projects
  • The single day with the most pledges was March 13, 2013 (when 54,187 backers pledged $4,029,585.45 to 1,985 projects)
  • Wednesday is the most pledged day and 14th Day of month got most pledges

You can find more data here.

While it might sound like a donation site, I always find it a site like Flipkart or Amazon because of the perks. Except for the fact that the projects are unique and range from Art to Technology to Food. The range Kickstarter projects have, there is something for everyone there.

With $1 Billion pledged, crowdsourcing can be considered a serious platform and not just a fad anymore. Many sites like Kickstarter have come up and they will add to the growth.

So, have you ever checked it out? What are your views on crowdsourcing?

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