Kickstarter, the crowdfunding website founded in April 2009, announced today that start-ups have raised over a billion dollars (£600 million) for their creative projects through its online investment platform, with more than $500 million raised in the last year alone.
Projects that have been backed through Kickstarter, which takes five percent of the funds raised in return for using its platform, include the Pebble smartwatch, the Arduino mini-computer and satellites.
It's worth noting that the billion dollar milestone represents dollars pledged across successfully funded projects, projects in progress, and those that didn’t meet their final target figure. On Kickstarter, pledged money is only received if the campaign’s target goal is reached. Kickstarter says that of the billion dollars pledged overall, $858 million (£512.61 million) has been pledged to successfully funded projects.
Other data released by Kickstarter today revealed the pledges have come from 5.7 million people spanning 224 countries and territories.
UK backers pledged $54.4 million (£32.5 million), losing out only to the US who pledged significantly more at $66.3 million (£39.6 million). Canada, Australia, Germany, France, Japan, Sweden, the Netherlands and Singapore also featured in the list of the top 10 contributing nations.
Those who back Kickstarter projects are offered rewards and experiences in exchange for their pledges.
Over one and a half million people have backed more than one project, while nearly 16,000 people have backed over 50 projects.
The highest grossing day on Kickstarter was 13 March 2014, when 54,187 backers pledged $4,02 million (£2.40 million) to 1,985 projects.
Kickstarter was keen to point out that $1 billion equates to the value of Instagram or 1.25 million iPhone 5S’s.