It’s easy to root for Kickstarter. The company has made it possible to bring new, innovative products to market and finance projects that would never get off the ground before the popularization of crowdfunding. It’s created an entirely new class of entrepreneur, and the way it turns the investment business on its head is a textbook example of disruptive technological innovation. But mostly, we’re all still just amazed at how money much the company has managed to help independent entrepreneurs raise.
The results are awe-inspiring. In the year since Kickstarter reported its numbers, the company helped raise a total of $119.6M for successfully-funded projects. That’s almost three times as much as the amount raised during the company’s first two years. Taking into account Kickstarter’s 5% commission, we can estimate that the company took home just shy of $6M in commission revenue in its third year. And it’s not the only one cashing in: with Amazon’s commission of 2.9% plus 30¢ per transaction, the online retailer pulled at least $3.M in fees during the same period.