Business Models

by Mike Masnick

Filed Under:
crowdfunding, pebble


Biggest Kickstarter Project Ever Surpasses $10 Million; Cuts Off Funding

from the impressive dept

We keep hearing that these new business models and platforms really can't handle "big" projects. While part of the charm and power of these platforms is that they can fund smaller "long tail" projects that might never otherwise see the light of day, there's no reason that they can't do bigger projects as well. A few weeks ago, we told you about the Kickstarter campaign for the Pebble e-watch, which was the fastest growing Kickstarter project ever, surpassing $1 million in just 28 hours, and hitting $4.5 million by the time we got our post out.

Last week, the project surpassed $10 million and still had over a week to go. However, the folks behind the project had decided to cap the total number of watches that could be pre-sold via Kickstarter at a mere 85,000. So once that number was hit, they set the Kickstarter to show all the items sold out. While I could see some folks who were waiting towards the end get a little annoyed (thankfully, I got my order in a few days earlier), projects like this should at least open some eyes to the fact that Kickstarter is not just for small stuff. While some have argued that something like Kickstarter could never fund a Martin Scorcese film, remember Kickstarter is just three years old. If Scorcese set up an interesting project with cool tiers, I wouldn't be surprised to see it funded to massive levels.

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  1. identicon
    Anonymous Coward, 14 May 2012 @ 5:07pm

    Kickstarter has reached the threshold of being able to launch the next George Lucas:

    "Produced with a budget of $11 million and released on May 25, 1977..."

    You might argue that that was quite a bit more after taking inflation into account -- but Lucas had to buy model parts and flights to location shoots in Tunisia and tons and tons of celluloid film; modern digital recording technology and CGI software makes fancy effects, big complicated spacecraft, big sweeping landscapes, and storing the results of all your filming a heck of a lot less expensive than in 1977!

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