Perry Chen, co-founder of Kickstarter, shares his unconventional journey from working in the stock market to founding Kickstarter. He discusses the challenges they faced, meeting co-founders, and building the company amidst competition. The podcast also features how Kristel Gordon invented a solution for stuffing a duvet into its cover.
Kickstarter took eight years to develop and became profitable within the first year, enabling creators to bring their ideas to life.
Despite lacking coding experience, the Kickstarter co-founders persevered, learning and understanding the technical aspects of building a website.
Deep dives
The Slow and Steady Journey of Kickstarter
Kickstarter took eight years to go from an idea to a reality. The co-founders spent years refining the concept before the website went live, with a small amount of money and no coding knowledge. They focused on building an open platform where anyone could raise funds for their creative projects. Kickstarter steadily gained traction, with a variety of projects being funded, from films and albums to school plays and residencies. The company became profitable within the first year and has now helped raise over $3 billion in pledges. Kickstarter's success lies in enabling people to bring their ideas to life and providing an alternative funding source in creative fields.
The Challenges of Starting Kickstarter Without Coding Experience
When the co-founders of Kickstarter initially started working on the idea, none of them had coding experience. They had to rely on external help to review the developers they hired. They took their time to learn and understand the technical aspects of building a website, which played a crucial role in the eventual launch of Kickstarter. Despite facing challenges and making mistakes along the way, the team persevered, continuously refining their concept and building a strong team. This slow and steady approach allowed them to create a platform that could support a variety of creative projects.
Kickstarter's Unique Business Model
From the outset, Kickstarter's business model was centered around charging a small fee, only if a project was successfully funded. This model differentiated them from traditional crowdfunding platforms and discouraged the perception of Kickstarter as a store. The focus was on supporting creativity and allowing individuals to bring their ideas to life, rather than maximizing profits. Kickstarter's commitment to balance shareholder interest with a broader stakeholder perspective, including the environment and communities, led to its designation as a public benefit corporation. By staying true to their values and providing an open platform, Kickstarter has become a popular choice for creators and backers alike.
The Continued Impact and Growth of Kickstarter
Kickstarter has had a significant impact on the creative community, providing a platform for projects that otherwise would have struggled to find funding. The company's success and steady growth have attracted attention, with one-third of the companies featured on the podcast 'How I Built This' having used Kickstarter to raise funds. The platform's simplicity, minimal fees, and focus on enabling people to support each other's ideas have made it a standout in the crowdfunding space. Kickstarter's impact goes beyond just financial support, as it has created a unique avenue for people to connect and bring their creative visions to life.
In the early 2000s, Perry Chen was trying to put on a concert in New Orleans when he thought, what if fans could fund this in advance? His idea didn't work at the time, but he and his co-founders spent the next eight years refining the concept of crowd-funding creative projects. Today Kickstarter has funded over 125,000 projects worldwide. PLUS in our postscript "How You Built That," how Kristel Gordon invented a solution for easily stuffing a duvet into its cover – it's called Duvaid.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode