Kickstarter raises $1 billion in funding over 5 years

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Kickstarter, arguably the most popular crowd funding site on the internet, has cemented its reputation when the site announced that it had hit one billion US Dollars in contributions yesterday.

Kickstarter has experienced huge growth in the last year alone, reportedly having raised $500 million in 2013. Almost two thirds of the of $1 billion raised was sourced from the United States ($663 million) and the second- and third runners up contributed $54 million (UK) and $44 million (Canada).

Although the figures point to a rather small contributing population, Kickstarter is nevertheless global, as a total of 5.7 million people from 224 countries have backed projects since the site’s launch.

Kickstarter definitely comes from humble beginnings, just like many of the projects it hosts, as according to the site, only 40 people pledged a total of $1 084 to seven projects on the site’s first day. Now, after five years, the site generates over $1 million per day.

Source:  The Verge

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