Small Business

The Story Behind Kickstarter and How it Makes Business Funding Easy

Many of the present generations of entrepreneurs will agree that Kickstarter has affected their life more than any other startups because it has changed how entrepreneurs and products can get funded.

Yancey Strickler, the co-founder and former CEO of Kickstarter, a global Public Benefit Company that assisted in the establishment of crowdsourcing, spoke this week on the Small Business Radio Show. He has published a new book called; “This could be Our Future.” The London spectator called him one of the “least obnoxious tech evangelists.”

When they (himself, Perry Chin and Charles Adler) were to launch Kickstarter, many doubters believed the business would flop. But as of now, the company has made over $5 billion worth of pledges, from over 10 million backers, and has created brilliant ideas.

According to Yancey, the idea behind Kickstarter can be traced down to 2001, when Perry Chen couldn’t get funds to organize his concert. Perry had to seek for pledges via the internet, and he didn’t collect money from anyone that pledged until he had gathered the entire cash he needed for the project. Perry’s story explains how Kickstarter works. Yancey’s partnership with Perry and Charles commenced in 2005 and led to the official launch of the platform in 2009. Yancey further said that the motivation behind the launch of Kickstarter was the passion they had to see that the art project gets completed rather than entrepreneurship.

Kickstarter’s selling point is that a project can be launched without having the initial capital.

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