Tech Companies Raising Record Levels of Cash via Kickstarter

By

Independent video game development studio Double Fine Productions shouldn't have any problems keeping its latest project under budget. Looking to begin development on its upcoming title, the San Francisco-based company took the project to crowd-funding site Kickstarter earlier this month and now finds itself up to its forehead in cash.

With nearly three weeks still remaining, Double Fine Adventure has already received more than $2 million in donations, an astounding 500 percent above the studio's initial goal of $400,000. On the current pace, Double Fine may have as much as $4 million to spend developing its point-and-click adventure game.

After achieving its goal in less than eight hours, Double Fine Founder Tim Schafer said that the studio is planning a number of enhancements for the game, including greater production value, an accompanying documentary, a soundtrack and support for additional languages.

The company later updated its Kickstarter page with more ways to spend its newfound cash, headlined by a closed beta and digital-rights-management-free version of the game available only to backers who pledged more than $15.

As promised, Double Fine also plans on paying back its supporters with a host of other extras, all depending upon how much each backer donated. No word as to when the game will be ready, but Double Fine did say it is being developing for PC, Mac, Linux, iOS, and Android.

The success of Double Fine's campaign underscores the brilliance of Kickstarter and the desire for your everyday consumer to help fund ideas that they feel have real value. Two other inspirations – a comic book and an iPhone dock – each surpassed the $1 million threshold this month, with hundreds of other ideas achieving less lofty donation goals.

Many successful companies, ranging from solidified industry veterans to thriving start-ups, have begun heading to the Kickstarter to get funding from their supporters, rather than from banks or venture capitalist firms.

Portable storage device maker Hypershop was one of the more successful Kickstarter companies, raising over $260,000 to make a gadget that connects USB storage devices like hard drives, flash drives and cameras to iPads and other iOS devices. For a $69 pledge, backers were the first to get their hands on the $99 CloudFTP device.

The gadget, which is now available for sale on the general market, made its debut at CES 2012 in Las Vegas. Check out the video below for an insider's look at the device and a more in-depth take on the Kickstarter campaign.




Edited by Carrie Schmelkin

TechZone360 Contributor

SHARE THIS ARTICLE
Related Articles

Coding and Invention Made Fun

By: Special Guest    10/12/2018

SAM is a series of kits that integrates hardware and software with the Internet. Combining wireless building blocks composed of sensors and actors con…

Read More

Facebook Marketplace Now Leverages AI

By: Paula Bernier    10/3/2018

Artificial intelligence is changing the way businesses interact with customers. Facebook's announcement this week is just another example of how this …

Read More

Oct. 17 Webinar to Address Apache Spark Benefits, Tools

By: Paula Bernier    10/2/2018

In the upcoming webinar "Apache Spark: The New Enterprise Backbone for ETL, Batch and Real-time Streaming," industry experts will offer details on clo…

Read More

It's Black and White: Cybercriminals Are Spending 10x More Than Enterprises to Control, Disrupt and Steal

By: Cynthia S. Artin    9/26/2018

In a stunning new report by Carbon Black, "Hacking, Escalating Attacks and The Role of Threat Hunting" the company revealed that 92% of UK companies s…

Read More

6 Challenges of 5G, and the 9 Pillars of Assurance Strategy

By: Special Guest    9/17/2018

To make 5G possible, everything will change. The 5G network will involve new antennas and chipsets, new architectures, new KPIs, new vendors, cloud di…

Read More