SMALL BUSINESS

How Pebble And Other Product Phenomenons Killed It On Kickstarter

07/09/2012 08:34 am ET | Updated Sep 08, 2012

It's a good time to be Kickstarter. The crowdfunding platform has had a blockbuster year, breaking into mainstream consciousness with campaigns that raised millions of dollars, like the Pebble e-paper watch above.  The platform has seen almost $275 million pledged to some 63,000 projects to date, with $231 million going towards successful fundings.

As Devin wrote at the time, before February, no Kickstarter project had ever raised over $1 million, but since then, seven projects have surpassed $1 million, including the current #1, Pebble, which raised an astonishing $10 million. And this growth applies to multiple categories, not just sexy wrist watches. Prior to February only one gaming project had reached $100K in funding. Since then? 37. Even something as niche as webcomics saw its number of pledges double in February.

A lot of people came to Kickstarter for the first time as part of the buzz around those seven projects that surpassed $1 million, and to the startup's delight, a lot of them have gone on to fund other projects, resulting in a positive net effect both for the platform itself and for project founders.

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