Rate of Growth of CrowdFunding as a Financing Mechanism is Accelerating...
Suresh Fernando
http://dailycrowdsource.com/2011/07/26/business/finance/kickstarter-lives-up-to-its-name/
According to the post, as of July 17th, 26,620 projects have been proposed with 44% of them succeeding in reaching their funding goals. While music and film projects are by far the most popular, accounting for 6,158 projects, there is definitely funding to be had for more unexpected initiatives. Over half of the projects raised $5,000 or less each, while, interestingly, 23 projects have managed to raise over $100,000.
Not only is the amount of crowdfunding increasing, but the rate at which it is being pledged is also on the rise. It took Kickstarter two years to reach $50 million in pledges and only 10 weeks later is up to $75 million. The most recent $5 million worth of pledges was made in only 18 days – an impressive figure, given the first $5 million took 342 days. Another interesting indication of Kickstarter’s explosive growth is the fact that in their first year and their latest month Kickstarter saw the same number of projects successfully funded, 1044.
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Suresh Fernando
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