Greetings Crowdfunding Community!
Two quick notes:
- I bumped into Sean O'Rielly from KingsCrowd yesterday and was telling him about when Kickstarter (launched in 2009) broke $1B dollars in rewards based crowdfunding pledges in 2014. Why that is important is because as of July 2021 Kickstarter has received more than $59B in pledges. You can see their full stats here: https://www.statista.com/statistics/310218/total-kickstarter-funding/
- Which brings us to point number two. As you may have read courtesy of Woodie and Crowdfund Insider, RegCF recently broke the $1B mark for funds raised. You can read about that here: https://www.crowdfundinsider.com/2021/10/182167-reg-cf-investment-crowdfunding-tops-1-billion-on-heals-of-funding-cap-increase/ Meaning that from 2016 to Q3 2021 RegCF has raised over $1B in funding.
Now, this is important for a number of reasons. Not just that because year to date, as of Q3 2021, ~$409M has been raised from 1,177 individual offerings. This is a milestone because the first $B is the hardest. Additionally, what we can expect to see from this is continued growth, not too dissimilar to what we saw in the donations and rewards based crowdfunding verticals. Granted, Kickstarter does not represent all of rewards-based crowdfunding. However, it is a good indicator of what a single rewards-based platform can do. Too, it illuminates some interesting possibilities as to what anyone of the 60+ RegCF funding portals may achieve individually over the next 5 to 10 years.
Regardless of how well individual platforms may perform, we are in this industry together. And to that end the CfPA will continue to advocate for investor education, simplification of regulations and the education of Founders. As we do this as your unified voice, one behalf of the CfPA, I wanted to thank you all for your contributions to the League, the Investment Crowdfunding industry as a whole and the crucial role you each play in helping achieve this milestone.
The CfPA continues to look forward to helping everyone achieve their maximum potential this decade and beyond.
Thank you for being part of the League.
Have a great weekend!