{"id":44438,"date":"2023-10-20T15:35:56","date_gmt":"2023-10-20T15:35:56","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/kickstarter-passes-us1-billion-in-pledges-startupsmart\/"},"modified":"2023-10-20T15:35:56","modified_gmt":"2023-10-20T15:35:56","slug":"kickstarter-passes-us1-billion-in-pledges-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/kickstarter-passes-us1-billion-in-pledges-startupsmart\/","title":{"rendered":"Kickstarter passes $US1 billion in pledges – StartupSmart"},"content":{"rendered":"
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Crowdfunding platform Kickstarter has this week celebrated passing $US1 billion in pledges for projects around the world, with Australia the fourth largest country for the value of funds promised.<\/p>\n

 <\/p>\n

The company says in an online post that Australia had 109,456 backers who pledged $US31,776,566. The US was the biggest country for pledges, with $US663,316,496 promised, followed by the United Kingdom with $US54,427,475, and then Canada on $US44,913,678.<\/p>\n

 <\/p>\n

Kickstarter says it passed the $US1 billion milestone on March 3.<\/p>\n

 <\/p>\n

Crowdfunding sites such as Kickstarter and Indiegogo have become sources of funding for many start-ups seeking to validate consumer interest in their products and get them into production.<\/p>\n

 <\/p>\n

Melbourne Watch Company managing director Sujain Krishnan is currently running a Kickstarter campaign for his firm\u2019s second timepiece and has already received pledges worth $20,237, smashing its $15,000 goal, with 48 days still to go in its campaign.<\/p>\n

 <\/p>\n

\u201cTo start up a company, a watch company, it requires a lot of capital,\u201d he told StartupSmart<\/i>.<\/p>\n

 <\/p>\n

\u201cCrowdfunding is a good way to get exposure and reach beyond what I could normally.\u201d<\/p>\n

 <\/p>\n

A former IT project manager, Krishnan says the Kickstarter campaign for his Hawthorn-style watch is the second crowdfunding campaign he\u2019s undertaken, having used rival platform Indiegogo for his first campaign for his first timepiece, the Flinders-style watch.<\/p>\n

 <\/p>\n

The first campaign was also successful, breaking the $10,000 target by 277%.<\/p>\n

 <\/p>\n

He says he was surprised at how successful the crowdfunding campaigns have been.<\/p>\n

 <\/p>\n

\u201cI wasn\u2019t sure what to expect,\u201d he says.<\/p>\n

 <\/p>\n

Krishnan says it\u2019s now a \u201cpretty common practice\u201d for start-ups to raise funds through crowdfunding platforms.<\/p>\n

 <\/p>\n

He says he used to build watches as a hobby and sell them online and decided to make it his full-time job after building up a following among watch enthusiasts and realising there was a chance to turn it into \u201csomething bigger\u201d.<\/p>\n

 <\/p>\n

Kickstarter says Wednesday was the day of the week that saw the most money pledged while the 13th day of each month was also when most money was pledged.<\/p>\n

 <\/p>\n

It says March 13, 2013 was the single day that saw the most pledges with 54,187 backers pledging $US4,029,585 to 1985 projects.<\/p>\n

 <\/p>\n

The company says more than half of the $US1 billion pledged on Kickstarter was pledged in the past 12 months.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crowdfunding platform Kickstarter has this week celebrated passing $US1 billion in pledges for projects around the world, with Australia the<\/p>\n","protected":false},"author":1,"featured_media":59245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44438"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=44438"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/59245"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=44438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=44438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=44438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}