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April 24, 2012

Kickstarter Raises More than $119M

By Miguel Leiva-Gomez, TMCnet Contributor

Kickstarter has been helping startups get the otherwise impossible funding they need for three years now. Crowdfunding is the new way for innovations to get across, making them more readily distributable, marketable and available for purchase. The amount of money it's been able to raise for inventors in these three years is incredible, with the third year marking its biggest collection yet.

Last year, in celebration of its second year running, Kickstarter went out of its way to present information to readers in its blog. Now, we're curious as to how much the company has raised in the close of its third year. The Next Web was among one of the most curious. We're aware that Kickstarter takes a 5 percent commission on any fundraising, so we can calculate that from the money raised to get an insight on its total income.

Using a script written by one of its members, The Next Web found out exactly how much the company has raised at this point by scanning through Kickstarter's Web site.

In the source, The Next Web was just finding out how much money has been raised, not how much has been pledged. Pledged results include projects that have not reached their funding goals.

In its third year running, Kickstarter helped raise an astounding $119.6 million in its successful projects. That number represents nearly three times as much as the company raised in its first two years combined. With 5 percent commission, Kickstarter has raised $6 million within its third year. Amazon also had a piece of the pie, with a commission of 2.9 percent and 30 cents per transaction. This puts the figure at around $3 million.

The two trends illustrated by The Next Web's report show that Kickstarter has had an increase in the amount of projects that funded and an increase in the average sum raised for each successful project. This shows the magnitude at which innovation is starting to spur, thanks to Kickstarter's services online.

Edited by Braden Becker
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