Kickstarter Hits $1 Billion In Crowdfunding Pledges

3/3/14 1:10PM EST

Kickstarter Hits 1 Billion In Crowdfunding Pledges Kickstarter Hits $1 Billion In Crowdfunding Pledges

Image via Kickstarter

Today marks an impressive milestone for online crowdfunding giant Kickstarter. This morning, the Kickstarter homepage read, “Thanks a Billion,” as the company announced its pledges have surpassed the $1 billion mark.

The platform opened in April 2009 as a place for inventors, artists, and entrepreneurs to turn their ideas into reality with the help of crowdfunded donations. In its fist month, Kickstarter users raised around $3,900 on just a handful of campaigns.

Just under five years later, over 5.7 million people from 224 countries have contributed to the $1 billion milestone. More than half of that was raised in the last 12 months alone. Of those 5.7 million contributors, nearly 16,000 have backed more than 50 projects.

Kickstarter Hits 1 Billion In Crowdfunding Pledges 2 Kickstarter Hits $1 Billion In Crowdfunding Pledges

Image via Kickstarter

Kickstarter also released a breakdown of where that money has come from over the last year. According to the site, contributors in the U.S. accounted for the vast majority of pledges, offering up $663 million. Following the U.S. is the U.K. with $54.4 million. Canada, Australia, and Germany also accounted for contributions in the tens of millions.

A detail worth noting: this $1 billion total accounts for “successfully funded” projects, projects in progress, and projects that failed to meet their goal. Not all campaigns reach their target goal, but Kickstarter says that $858 million of the $1 billion has gone to successfully funded projects.

Kickstarter, who competes with other crowdfunding platforms like Indiegogo, takes a 5 percent cut of successful campaigns. Out of the $858 million the site has generated, about $42 million goes to Kickstarter.

 
 

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