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.

Image via Kickstarter

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.