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Kickstarter surges past $A1.1bn mark

Crowdfunding website Kickstarter has passed $US1 billion in pledges, propelled by more than 100,000 Australian backers.

Pledges from more than 100,000 Australians have helped propel crowdfunding website Kickstarter past $US1 billion ($A1.13 billion) in project backing.

Yancey Strickler, who co-founded the site in April 2009, announced the milestone in a blog post on Tuesday morning.

"Congrats and thanks to our community, our friends, our families, and to the whole entire internet for making this possible," he wrote.

Close to six million people have pledged money to various creative projects - such as films, books and gadgets - via the site, including just shy of 110,000 Australians.

With pledges from Australia totalling more than $US31 million, only Canada, the UK and the US have contributed more.

Kickstarter began facilitating Australian and New Zealand-based project pitches in November.

Prior to that, pitchers had to jump through a variety of hoops, such as setting up overseas bank accounts.

The site allows people with creative projects to pitch to backers around the world, who are encouraged to give money in return for rewards, such as a finished copy.

It runs on an all-or-nothing model whereby only projects that meet their funding targets are allowed to keep pledged money.

The site has successfully funded more than 57,000 projects, 58 of which have raised in excess of $US1 million.

Notable successes include the Pebble smartwatch, which raised more than $US10 million.

The site is enjoying exponential growth, with more than half the $US1 billion pledged coming in the past 12 months.

Kickstarter takes five per cent of money raised by successful projects.


2 min read

Published

Source: AAP


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