As you’re building your crowdfunding campaign, sweetening it with perks galore, you may start fantasizing about all of the $1 million donations that are going to flow in.
A wee reality check: The most common donation on Kickstarter is $25.
Since launching on April 28, 2009, Kickstarter has seen almost 2.5 million pledges of $25. The next most common donation size is $50, with the crowdfunding platform clocking 1.6 million of those.
That said, the magic of crowdfunding is that it doesn’t take ginormous contributions to raise reasonably large sums of money. Lots of small donations from a crowd really add up. And so far, Kickstarter’s crowd is almost 10 million strong.
Today, the Brooklyn, N.Y.-based company published a whole slew of data about user activity in honor of surpassing $2 billion in pledges made on the platform.
Kickstarter is the flagship name-brand of crowdfunding, and so as the industry has matured and developed, the pace of contributions has accelerated. It was nearly five years before Kickstarter hit that first billion-dollar donation threshold, but then it only took a smidge over a year and a half for Kickstarter to see that second billion dollars of donations roll in.
To reach that first billion dollars in donation, an average of $391 was pledged per minute. For the second billion dollars, Kickstarter clocked $1,182 in donations per minute.
For a deeper dive into what the donations looked like and where they were going on Kickstarter, have a look here.Related: The SEC Just Approved Rules Opening Up Equity Crowdfunding to the General Public In a 3-1 Vote