Crowdfunding websites such as Kickstarter and Indiegogo experienced tremendous growth in 2012 and became a significant source of financing for independent businesses, Reuters reported. Consumers eagerly backed projects and companies for a total amount of $2.66 billion last year, an increase of 81% from $1.47 billion in 2011. The bulk of money raised came from North American users who invested $1.6 billion in various projects, an increase of 105% from 2011. One of the most popular crowdfunding projects of all time was the Pebble smartwatch, which raised more than $10 million from 66,434 backers who bought 85,000 watches. Research firm Massolution believes that crowdfunding will continue to increase in 2013 and could grow as high as $5.1 billion.
The crowdfunding market exploded to $2.7 billion in 2012
Published Apr 9th, 2013 7:05PM EDT
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Kickstarter
Dan joins the BGR team as the Android Editor, covering all things relating to Google’s premiere operating system. His work has appeared on Fox News, Fox Business and Yahoo News, among other publications. When he isn’t testing the latest devices or apps, he can be found enjoying the sights and sounds of New York City.
