Kickstarter, a relatively unknown startup that helps creators raise money for independent projects, will generate over $5,000 in revenue today, implying an annualized rate of close to $2 million.We took a look at all of the Kickstarter projects closing within the next 24 hours. Even if none of them raises any more money today, those projects will raise over $100,000. Kickstarter takes a 5% cut of the funds it raises. So if today is representative, that means the company is generating revenue at a $1.8 million annualized rate. Not too shabby for a company founded a year and a half ago.
We reached out to the company to see if this was just an aberration — perhaps a disproportionate number of deals close on Friday. Kickstarter tells us that “the distribution of project end dates is fairly even, but certainly the beginning and end of the month is particularly busy.” Today is the 15th, so the implication appears to be that our estimate is actually low.
Kickstarter also says that more than $20 million has been pledged through its platform to date. That includes pledges for projects that never went through, and the company is growing rapidly, so that isn’t too instructive, but it’s certainly impressive.
Bottom line: Kickstarter is killing it. Keep an eye on this company.
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