May 20-25 2017

SUMMARY

KICKSTARTER / What Is the Kickstarter?

Kickstarter is an American public-benefit corporation based in

Brooklyn, New York(Issac M.,2015), that maintains a global crowdfunding
platform focused on creativity.

This company launched on April 28, 2009, by Perry Chen, Yancey

Stickler, and Charles Adler. Then became "Best Websites of 2011(McCracken
H.2016).Kickstarter raised $10 million funding from backers including NYC-
based venture firm Union Square Ventures and angel investors such as Jack
Dorsey, Zach Klein and Caterina Fake. The company is based in Greenpoint,
Brooklyn.Also, To maintain its focus as a funding platform for creative
projects, The company has outlined three guidelines for all project creators
to follow, creators can fund projects only, projects must fit within one of the
site's 13 creative categories; and creators must abide by the site's prohibited
uses, which include charity and awareness campaigns. Kickstarter has
additional requirements for hardware and product design projects.

KICKSTARTER / What Is the Kickstarter stated mission?

Kickstarter companys stated mission is to "help bring creative

projects to life(Gennes L.,2013). Kickstarter has reportedly received more
than $1.9 billion in pledges from 9.4 million backers to fund 257,000 creative
projects, such as films, music, stage shows, comics, journalism, video games,
technology and food-related projects(Issac M.,2015).

KICKSTARTER / What Is Kickstarter goal?

Kickstarter is one of the leading in the world of crowdfunding.

Theyve helped to make crowdfunding a $5 billion per year industry that is
still growing. Estimates put the value of all crowdfunding as high as $27
trillion per year. How does the site gain revenues and make money? The
Kickstarter business model is a basic commission-based system(Brandon G.,
2017).

Kickstarter also provides a platform for people to raise money. If a

campaign achieves its goal, then the company earns a 5% fee on over all
amount that has been collected. For every $10,000 that is raised, Kickstarter
gets a $500 cuts. That might not seem like much, for example the Coolest
Cooler that raised over $13 million, Kickstarters cut was about $650,000 just
for hosting the campaign and sometimes promoting it on their home page.

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KICKSTARTER / Why Is the Kickstarter Business Model Sustainable?

Kickstarter is able to defend their business model thanks to their

focus on creative projects. Theyve added some flexibility in recent months
with campaigns that can be instantly started [take the potato salad
campaign, for example], but they have consciously chosen to limit their
market growth opportunities by focusing on one generalized niche. In
return, they are able to easily defend their market share of crowdfunding
when it comes to creative projects.

KICKSTARTER / How Kick starter became successful business by

using their strategy ?

Kickstarter is successful because its creators tell great stories. And

stories are how we humans form relationships. Why is Kickstarter so
successful today when it isnt even rated as one of the best crowdfunding
platforms that exist right now? It is because this platform is able to test the
proof of a concept in a profitable way so that venture capitalists can
instantly judge whether or not an idea is worth an investment. For that
reason, Kickstarter will always be successful.

This is at the core of how Kickstarter operates. Customers are made

to become invested into each project they support because the rewards wont
come their way if a target goal isnt reached. Supporters are almost forced to
market the campaigns theyve supported if they want the rewards to appear.
It also means people are generally tempted to spend more on a Kickstarter
campaign to ensure its success(Brandon G.,2017).

REFLECTION
Nowadays e-commerce are one of the most popular business that's
Spread quickly through all over world even though many people doesn't
have money to start their own business but there was the new Way to gain
their capital called crowdfunding(gain money online)so kick starter is a
business that help bring creative projects into life and also kick starter is
one of the leading in World of crowdfunding they help make many investor
achieve their accomplishment and complete their goal so thats the reason
why Kickstarter was so famous.
In conclusion, after all that I have been through since last two
weeks of hard working and took a complex researching alone I finally
achieve my desire to understanding the information of theKickstarter and
be able to answer my main question and realized that how does this company
influence this modern era much in many ways. completely and after all that
been studied and done it just an important information for me that I can't let

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go because I will need it when i studied more complicated business and
economic stuff in the future.

So my process to learning and understanding the Kickstarter

company it's taking me 2 days to understanding Their business policies and
their strategy also I have been alone not in the team. Since I realize that
working in a team will make a lot of conflict into this project and take me
the long period to solve the problem so that's the reason why I try to work
alone and understanding as much as I could base on mine skill. The most
difficult part about this Japanese mobile economy crisis is because I Not able
to really learn about the government policy that effect this company because
I'm have not much time if I study deeply about this I will have a little time to
Done my final product. If I have been assigned to this type of self-study
project in this topic again I will spend more time in researching and
analyzing the data also improving my reading skills that will help me
analyze The data fast and waste less time than this round. And I will take
research about the government policy that effect this company first because
this is the most second important part. And also the hardest part for me to
an understanding on this topic.

For me as a self-learner, I had learned a lot about my individual

strange also my weakness from working hard in this project.and I realize
that I am a person that is fast to understanding the topic if I had an interest
in it so that's the reason why I choose this topic

REFERENCES

http://www.alexa.com/siteinfo/kickstarter.com

http://allthingsd.com/20130509/kickstarter-we-dont-have-anything-against-
celebrity-projects-cc-zach-braff/

http://waxy.org/2010/11/joining_expert_labs/

https://www.technologyreview.com/s/422132/start-me-up/

https://en.wikipedia.org/wiki/Kickstarter

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