If you got a creative project you need funding on, you can usually go to someone to get funding. Typically these people are angel investors or maybe even venture capitalists. But, unfortunately for many, investors like these don’t really want to or have the resources necessary to help out every fledgling entrepreneur. Fortunately, there’s another alternative: take it to the masses and if they like it, they’ll support you. I suppose it’s the adage from Field of Dreams is true: “if you build it, they will come.”
And boy did the masses respond over the past 24 hours. In what Kickstarter’s co-founder Yancey Strickler describes as an absolute crazy day, the world’s largest funding platform for creative projects hit a major milestone never before seen. Between Wednesday and Thursday of this week, the public supported two projects with over $1 million each–$2 million was invested into making two startups very happy and on their ways to being a success. Mr. Strickler blogs about the day in his blog post and recounts the events that lead to the biggest day in crowd-sourcing history.
It all first started on Wednesday at 6:54pm (presumably Pacific Standard Time), where Elevation Dock, described as the “best dock for the iPhone”, received its $942,579th dollar, surpassing the previous leader in fundraising, TikTok. The stars soon started to align and gave Kickstarter an idea of just what was about to hit them. At 8:52, another startup launches their Kickstarter project–Double Fine Adventure is a new game project from Tim Schafer and 2 Player Productions. Within nearly three hours of its launch, Double Fine Adventure cracks the $200k mark and doubles that within the next five hours. Over the next few hours, all remains (relatively) peaceful in Kickstarter land…until…at 2:08pm on Thursday, Elevation Dock crosses the threshold and becomes the very first Kickstarter project to receive $1 million in pledges!
But we’re not done yet…I’m sure that the Kickstarter people are actively tracking the success that Double Fine Adventure is having right now. It isn’t until 6:40pm on Thursday that word starts to leak out that Double Fine Adventure might make it to $1 million as well, leading to another historic milestone for Kickstarter. USA Today has called this the highest-profile crowd-sourced game so far and according to Mr. Strickler, none of Kickstarter’s projects have attracted funding or followers as fast. Just minutes after the article was published, Kickstarter announces that Double Fine Adventure secures its $1 million’th dollar pledge becoming the service’s second huge success.
The funds are obviously still going to be pouring in for these two great projects and I wonder how this will affect the funding and participation behavior on Kickstarter? Why exactly did people find these two projects so great that it was worth them funding? I’m sure if we parse through the comments on each of their Kickstarter pages, we’ll find out. But that’s for another time. In the meantime, congratulations to these two startups. Wish you the very best to get your projects off the ground!