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The Untold Story Behind Kickstarter Stats [INFOGRAPHIC]

The Untold Story Behind Kickstarter Stats [INFOGRAPHIC]
See the full infographic below. A few weeks ago, I wrote about Kickstarter failures that were difficult to find because Kickstarter intentionally prevents failed campaigns from being indexed by the search engines…and how I managed to find (what turned out to be) about 59% of the unsuccessfully funded projects. My article generated a lot of attention, including Mashable and VentureBeat (which republished my post). I’d like to think that it was all this attention that finally led Kickstarter to launch a stats page with data and basic metrics about the projects. I was wrong. Prof. I received much feedback on my article, chief among them from Professor Ethan Mollick of The Wharton School of the University of Pennsylvania. Also, some people objected to my use of the term “failure” on projects that did not get fully funded. Give us some real insights! I heard you loud and clear, so I got in touch with Prof. And don’t think that crowdfunding is a passing fad, either. Getting it right this time.

Scraping websites using the Scraper extension for Chrome If you are using Google Chrome there is a browser extension for scraping web pages. It’s called “Scraper” and it is easy to use. It will help you scrape a website’s content and upload the results to google docs. Walkthrough: Scraping a website with the Scraper extension Open Google Chrome and click on Chrome Web StoreSearch for “Scraper” in extensionsThe first search result is the “Scraper” extensionClick the add to chrome button.Now let’s go back to the listing of UK MPsOpen mark the entry for one MP Right click and select “scrape similar…” A new window will appear – the scraper console In the scraper console you will see the scraped contentClick on “Save to Google Docs…” to save the scraped content as a Google Spreadsheet. Walkthrough: extended scraping with the Scraper extension Note: Before beginning this recipe – you may find it useful to understand a bit about HTML. Easy wasn’t it?

Kickstartup — Successful fundraising with Kickstarter & the (re)making of Art Space Tokyo It starts with a book. Art Space Tokyo is a book best described as a guide to some of the hidden galleries and museums in the city. Editor and co-author Ashley Rawlings and I put the book together in 2008. The book is important to us because we put so much work into its production. When writing Book in the Age of the iPad,[2] I was largely thinking about Art Space Tokyo. I spent a good chunk of 2009 thinking about the convergence of digital and analog in the publishing world, and this year (2010) I began to speak publicly and publish articles on the subject. In the spring of 2010, a few stars aligned and I was able to buy back the publishing rights to Art Space Tokyo. Once I had obtained the publishing rights, the only question was: How do we fund this? I wanted to use Kickstarter the moment I heard about it back in mid-2009. Kickstarter.com is a fundraising website. Backers simply can't lose — if you can’t complete the project, they don’t pay. Silkscreening The slippers are mine. Twitter

Georgia Tech Researchers Reveal Phrases that Pay on Kickstarter New Georgia Tech Study Finds Pitch Language Plays Major Role in Success of Crowdfunding Projects January 13, 2014 Researchers at Georgia Tech studying the burgeoning phenomenon of crowdfunding have learned that the language used in online fundraising hold surprisingly predictive power about the success of such campaigns. As part of their study of more than 45,000 projects on Kickstarter, Assistant Professor Eric Gilbert and doctoral candidate Tanushree Mitra reveal dozens of phrases that pay and a few dozen more that may signal the likely failure of a crowd-sourced effort. “Our research revealed that the phrases used in successful Kickstarter campaigns exhibited general persuasion principles,” said Gilbert, who runs the Comp. While offering donors a gift may improve a campaign’s success, the study found the language project creators used to express the reward made the difference.

Allegation: Kickstarter Is Still Hiding Data About Failed Projects [Updated With Corrections] Crowdfunding platform Kickstarter has come in for a lot of plaudits for creating a new platform on which to fund startups. Certainly, since the passing of the U.S. Jobs Act earlier this year, crowdfunding is about to have its day in the sun. But it’s also had its fair share of skeptical critics. [Update: Please scroll to the bottom for a convincing rebuttal by Kickstarter.] A few weeks ago, Jeanne Pi of AppsBlogger wrote about Kickstarter failures that were difficult to find. However, Pi was criticised for her analysis, by Professor Ethan Mollick of The Wharton School of the University of Pennsylvania, for comparing the percent of projects in a category that are successful without also controlling for the size of the project. So Pi and team have done more digging and come up with some research. • Pi alleges that the bulk of the missing data about projects is from failed projects. • In addition “Projects that fail to fund tend to fail by large margins. [Responses by Kickstarter:

Trends in Pricing and Duration » The Kickstarter Blog A couple of weeks ago we linked to Craig Mod’s gorgeous and thorough breakdown of his Kickstarter project Art Space Tokyo. In the post Craig sampled other popular projects on Kickstarter, and explained how their choices and outcomes affected the way he constructed his project. Craig also offers some advice on optimal pricing and project length to future project creators. We were intrigued and impressed by Craig’s research and conclusions, and we’ve now compiled data from our entire database to see how it holds up. Let’s dig in. Reward Popularity and Power In sampling the Top 20 grossing successful projects, Craig observed that $50 rewards appeared to dominate — accounting for almost 25% of all revenue to the projects he sampled. But pledges aren’t just about dollars raised. The lower priced levels are also significant. In his report, Craig argues that lower tiers are “statistically insignificant” and that creators should avoid them. The Trough Project Duration Choice and Success Thanks!

The Microfactory: A machine shop in a box by Mebotics LLC Makers making for makers: The Microfactory project began one year ago when four friends, longtime members of an independent maker space in Somerville, Massachusetts called Artisans Asylum, came together to create a better prototyping and machining tool....one that was easy to use, self-contained, and capable of a truly impressive list of tasks. They independently financed the development and testing of five full versions of the Microfactory, resulting in the exceptional product featured here. The Microfactory was entirely conceived, designed and built by people who have spent their lives around machines, who wanted to make something truly revolutionary and highly usable for makers everywhere. Introducing the Microfactory: a networked, easy to operate, affordable, mess-free, quiet, safe and fully-enclosed machine capable of: printing functional parts in four colors or multiple materials AND computerized etching AND computer-controlled milling! We need YOUR help! Machine Specs Software:

Dollar for dollar raised, Kickstarter dominates Indiegogo SIX times over While freelancing in the crowdfunding space, Edward (@ejunprung) and I noticed a huge size discrepancy between Kickstarter and Indiegogo. We decided to fully size Indiegogo up and compare their numbers with Kickstarter’s publicly available statistics to see just how much bigger Kickstarter is. 6 Eye Opening Insights Cumulatively, Kickstarter (KS) has over 110,000 campaigns while our scrape found 44,000 campaigns on Indiegogo (IGG). However, through multiple scrapes over a month, we discovered that IGG de-list failed campaigns that raised less than $500.KS ($612M) has successfully raised over 6 times more dollars than IGG ($99M).KS has had 40 projects raise $1M+ while IGG only has had 4.The average success rate on KS is 44%. See the full side by side comparison table. Our Thoughts Widely considered the number two crowdfunding site based on volume, it is shocking to see that Indiegogo is so massively behind Kickstarter. Caveat Methodology See the raw data here. Notes:

Successful Kickstarter Campaigns Kickstarter is an exciting, powerful crowd-sourcing tool that is quickly becoming a must-use for independent artists. I recently completed a successful (though modest) Kickstarter fundraising campaign for a documentary film I’m producing. This blog post is a summary of principles learned about Kickstarter, gained both through my own experience and through studying other campaigns (both successful and unsuccessful). They tell me that a magician shouldn’t reveal his secrets. Required Reading Before you go any further, consider reading some of the following in-depth analyses of successful Kickstarter campaigns: Read all of that. How Much Funding Do You Want? There are four types of Kickstarter campaigns, in terms of their level of success: Successful campaigns that greatly surpass their goalSuccessful campaigns that reach their goalUnsuccessful campaigns that almost reach their goalUnsuccessful campaigns that are epic failures. Kickstarter as a Web Shop (The Pre-Order Model) Hidden Costs:

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