What Is Kickstarter? We Explain Here

Located in Brooklyn, New York, Kickstarter is a public benefit corporation in the United States that runs a global crowdfunding site with a creative focus. As of July 2021, 222,000 projects, including ones for movies, music, stage productions, comic books, journalism, video games, technology, publishing, and cuisine, had earned $6.6 billion in commitments from 21 million backers.

On April 28, 2009, Perry Chen, Yancey Strickler, and Charles Adler introduced Kickstarter. The People’s NEA, according to the New York Times. It was listed as one of Time’s “Best Websites of 2011” and “Best Inventions of 2010”. According to reports, Union Square Ventures, a venture capital firm based in New York City, and angel investors Jack Dorsey, Zach Klein, and Caterina Fake contributed $10 million to Kickstarter.

Kickstarter published an iOS app for the iPhone called Kickstarter on February 14, 2013.

Accepting projects

On October 31, 2012, Kickstarter began accepting projects from the United Kingdom. On September 9, 2013, projects from Canada, Australia and New Zealand, the Netherlands, Denmark, Ireland, Norway, and Sweden, Germany, France and Spain, Austria, Belgium, Italy, Luxembourg and Switzerland, Singapore and Hong Kong, Australia and New Zealand, Canada, Denmark, Ireland, Norway, and Sweden, Australia and New Zealand, Singapore and Hong Kong.

One of the numerous channels for crowdsourcing funds that avoid using conventional sources of fundraising is Kickstarter.

Global platform

The Kickstarter platform is available to contributors from all over the world as well as creators from a variety of nations, including the US, UK, Canada, Australia, New Zealand, The Netherlands, Denmark, Ireland, Norway, Sweden, Spain, France, Germany, Austria, Italy, Belgium, Luxembourg, Switzerland, and Mexico.

There is no assurance that those who post projects on Kickstarter will follow through with them, use the funding to carry them out, or produce finished products that live up to the expectations of their backers. Kickstarter recommends donors to make an informed decision before donating to a project. They also caution project managers that if they don’t fulfil their obligations, their backers may sue them for damages.

The majority of profitable projects raise between $1,000 and $9.9999. For the latter two categories, the median amount raised is still in the four-figure level. The success percentage of initiatives belonging to various categories varies significantly. The success rate for finished dance initiatives is around two thirds. In fact, more than 80% of programmes that exceed the 20% threshold succeed.

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