as the largest US crowdfunding website • It has launched over 100k projects (to date) • It has more than 3,000,000 backers • They have contributed over $450,000,000.00 • 23 Projects raised over $1,000,000.00 • Less than 43% of Projects get funding • Kickstarter charges a 5% fee + another 5% (to Amazon for credit card fees) if your project gets funded • If your project does not get funded they get $0.00
used for: charity or cause funding including “fund my life” campaigns (vacations, items for personal use) • Open-ended Projects are not allowed and mass email and social media marketing is not allowed
alternative companies currently exist that follow their business model very closely • Competitors that currently exist are: Crowdrise, GoFundMe, IndieGoGo,
commercially? • They should not pursue any ideas into becoming a commercial backer for large corporations. • As far as the protection of Backers is concerned. • They should remain committed to being open with their information. • They should ensure all backers are exposed to the rules and guidelines of what their investment are truly meant to accomplish. • It may be wise to run a thorough internet marketing campaign to survey people on what new areas they would like KickStarter to become involved in.
a fee for service whether the project is funded or not. • It may be in their best interest with the rise in competition for KickStarter to lower the fee for service in the event of a project not reaching its funding goals. • With the signing of the Jobs act firms will no longer be limited to what they can have donated or contributed. • This is another reason why KickStarter should remain focused in their current niche and stay out of the commercial sector. The current competition in the commercial sector is already very strong.