Rachel Metz

A View from Rachel Metz

Kickstarter Projects Pass $1M Milestone

Crowd-sourced funding site Kickstarter gains more clout as an iPhone dock and a video game are first to raise over $1M

  • February 13, 2012

Kickstarter, the popular crowd-sourced funding website, is becoming even more formidable as an alternative to angel investors and venture capital: Two of its projects just crossed the $1 million mark.

An aluminum iPhone dock called the Elevation Dock that mimics Apple’s clean, curvy, shiny aesthetic got there first on Thursday. It was followed a few hours later by Double Fine Adventure, a video game from industry veteran Tim Schafer’s indie gaming studio, Double Fine Productions (one of Schafer’s more well-known games is the 1993 release “Day of the Tentacle”).

By Friday afternoon – about 26 hours ahead of its funding deadline–the Elevation Dock has raised $1.2 million. Double Fine Adventure had raised nearly $1.4 million by that time, with 32 days left in its fundraising push.

Part of what makes this so staggering is the amount by which these projects went over their goals. Casey Hopkins, whose Portland, Oregon-based industrial design and mechanical engineering firm ElevationLab is behind the iPhone dock, was only trying to raise $75,000.

Double Fine Productions set a much loftier goal of $400,000, but it surpassed that goal in its first eight hours and reached the $1 million milestone within 24 hours. And it could bring in a lot more–its Kickstarter project still has 32 days left to raise money.

Tech Obsessive?
Become an Insider to get the story behind the story — and before anyone else.
Subscribe today

Uh oh–you've read all five of your free articles for this month.

Insider Premium

$179.95/yr US PRICE

More from undefined

Want more award-winning journalism? Subscribe to Insider Plus.

  • Insider Plus {! insider.prices.plus !}*

    {! insider.display.menuOptionsLabel !}

    Everything included in Insider Basic, plus ad-free web experience, select discounts to partner offerings and MIT Technology Review events

    See details+

    What's Included

    Bimonthly home delivery and unlimited 24/7 access to MIT Technology Review’s website.

    The Download. Our daily newsletter of what's important in technology and innovation.

    Access to the Magazine archive. Over 24,000 articles going back to 1899 at your fingertips.

    Special Discounts to select partner offerings

    Discount to MIT Technology Review events

    Ad-free web experience

You've read of free articles this month.