5 Lessons from an Unconventional Entrepreneur Who Raised Millions

Asking strangers for money has never seemed cooler. With stars like Kirsten Bell and Charlie Kaufman attaching their names to successful crowdfunding projects, the stigma of soliciting donations online has largely been eliminated. And now we have the numbers to prove it. According to a new report from Massolution out today, individual donors pledged $2.7 billion to more than a million crowdfunding campaigns across the globe in 2012—an 81% increase from 2011.

Asking strangers for money has never seemed cooler. With stars like Kirsten Bell and Charlie Kaufman attaching their names to successful crowdfunding projects, the stigma of soliciting donations online has largely been eliminated. And now we have the numbers to prove it. According to a new report from Massolution out today, individual donors pledged $2.7 billion to more than a million crowdfunding campaigns across the globe in 2012—an 81% increase from 2011.

Kickstarter is a place where entrepreneurs and artists can post ideas and raise money from other users. Before 2012, no project had ever raised $1 million on the platform. In the last 12 months, 17 projects exceeded 9-figure fundraises on Kickstarter.

The Pebble smart watch blew up Kickstarter when it was introduced. It raised millions of dollars and had tech gurus raving.

Pebble, the watch that uses Bluetooth to connect with smart phones, recently received approval from the FCC.

Last year more than 18,000 projects were successfully funded on Kickstarter, the largest crowdfunding website. A total of $320m was contributed by 2.2m people, making possible creative projects including a documentary on fracking, a home aquaponics kit and a community centre for circus arts. Games, a category which includes video, board and card games, received the most support, with $83m pledged to more than 900 projects.

It could be months before the SEC formally regulates crowd funding, one of the JOBS Act’s most exciting provisions, but some enterprising startups aren’t waiting for a green light from Washington to tap the crowd for capital.   While JOBS has won widespread support with its streamlined IPO provisions, some of the law’s key benefits, including the ability to crowd fund as much as $1 million in seed capital, still have to go through the Securities and Exchange Commission’s (SEC) lengthy rule-making process.  

The Pebble has an e-ink display similar to those found on e-readers, and last seven days on one battery charge, reports The BBC. The 1.26in (3,2cm) screen is able to display a multitude of apps as well as tell the time. Pebble is to date the most successful Kickstarter project, but had been hit by development delays.