Kickstarter

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Kickstarter is an online threshold pledge system for funding creative projects, from indie film and music to journalism to consumer products, and food-related projects. One of a new set of fundraising platforms dubbed ‘crowdfunding,’ Kickstarter facilitates gathering monetary resources from the general public, a model which circumvents many traditional avenues of investment. It was founded in 2009 by Perry Chen, Yancey Strickler, and Charles Adler in Manhattan. Project owners choose a deadline and a target minimum of funds to raise. If the chosen target is not gathered by the deadline, no funds are collected (a provision point mechanism).

Money pledged by donors is collected using Amazon Payments, and initiating projects requires a US bank account. Kickstarter turns a profit by claiming 5% of the funds raised; Amazon takes an additional percentage (around two). Unlike many forums for fundraising or investment, Kickstarter claims no ownership over the projects and the work they produce. However, projects launched on the site are permanently archived and accessible to the public. After funding is completed, projects and uploaded media cannot be edited or removed from the site.

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