For tens of thousands of entrepreneurs frustrated by Washington’s arcane legal rules for raising business capital, Kickstarter has been nothing short of a red-tape weed whacker. The crowd-funding website lets individual investors pledge money directly to inventors and artists, handily upending the complex and often impossible process of raising financing one person at a time.
If you succeed, that is.
Since its launch in 2009, Kickstarter has hosted more than 76,000 projects. About 32,000 of them, or 44 percent, have been successfully funded, with a total of $345 million raised.
The road to success on Kickstarter is far from assured, and third-party statistics show that Kickstarter projects have about a 41 percent failure rate. And that’s only counting projects that Kickstarter accepts. Countless additional projects have never even made it off the launching pad.
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