Editor’s note: We’re rerunning stories this week from our yearlong Quarter Century Project, in which we examined the last 25 years in retail. In late June, while much of the US sweltered under an early-summer heat wave, things were heating up at the crowdfunding platform Kickstarter, too. Anker’s eufyMake E1, which is about the size of a microwave oven and claims to be the “first personal 3D-texture UV printer,” enabling consumers to print directly on a range of materials and objects, became the most funded project ever for Kickstarter. The 60-day campaign, which had a $500,000 goal, ended on June 28 having raised $46.8 million, besting the previous record of $41.8 million by fantasy writer Brandon Sanderson, whose project involved publishing four novels over the course of 2023. With the popularity of crowdfunding platforms like Kickstarter, Indiegogo, and GoFundMe, you’d be forgiven if you thought these platforms had been around for decades. But not so long ago these funding platforms for startups were themselves upstarts: Indiegogo launched in 2008, Kickstarter in 2009, and GoFundMe in 2010. Among the brands that launched on Kickstarter are VR headset maker Oculus in 2012, Peloton in 2013, and both Allbirds (then named Three Over Seven) and Brooklinen in 2014. While the raison d’être for these platforms—raising cash to produce a product or project—is nothing to sneeze at, many brands who turn to them find that a well-run fundraising campaign delivers much more than capital. Keep reading here.—AAN |