$53 Million Pledged To Kickstarter Over Two Years

Posted by Soulskill on Friday April 29, 2011 @02:57AM from the money-for-nothing dept.

fangmcgee writes "Kickstarter, a website which collects donations for creative projects, said Thursday that it has received pledges of more than $53 million since its launch two years ago. 'Of the $53 million that has been pledged, $40 million has been collected by successfully funded projects and $6 million is still live (meaning pledged to projects that are still funding). The remaining $7 million is the amount of money not collected — pledged to projects that did not meet their funding goals. Of the $47 million pledged to projects whose funding has ended ($40M collected + $7M uncollected), approximately 85% of the funds ($40M) were collected. This 85% collection rate has stayed quite steady over the past two years.'"

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So What by Anonymous+Cowar · 2011-04-29 03:15 · Score: -1, Troll

Ok, so this is a slashvertisement for a service that specializes in angel investments, but what was the impact? How many businesses were successfully funded? How many of those continued to provide a living and way out of poverty or novel, useful product to society? How many year one businesses beat the 90% failure rate that most small businesses fall to in the first year?

What good has this service done with its 85% collected funds?

Would it matter if 25% of 188 million was collected vs 85% of 53 million? What if the collection rate was 100% of 47? Do these metrics mean anything to anybody besides kickstarter? All told, this summary leaves us with a massive case of slashdot blueballs.