Starting a business isn’t for everybody. It requires patience, dedication, and usually some startup cash. While bootstrapping your business and taking advantage of the freebies and deals you can find certainly help, sometimes a large amount of money is needed that can be obtained through traditional means.
Crowdfunding has become a popular option for entrepreneurs that need a large source of funding from the get go. While crowdfunding is a great way to raise that needed capital, it’s not always a sound investment for the backers. The receiving company could be a smash hit or a total flop. Here are a few of the most funded crowdfunded projects and how they fared.
The World’s Best Travel Jacket
Raising over 9.1 million dollars, this jacket was designed with a built-in pillow, eye mask, drink pocket, iPad holder, and much more. After the initial investment, the company behind the jackets raised another 11.5 million dollars. Despite being late for the holidays and sending out smaller sizes than ordered to most of the backers, the company is making orders right and still attempting to grow.
Exploding Kittens Game
Yes, you read that right. It’s a game about exploding kittens. After raising 8.7 million dollars on Kickstarter, this strategic card game was set to launch in January 2015. Since the launch, the game has continue to grow in popularity and continues to be available on many platforms as the company continues to deliver a great experience.
If starting a business sounds like a fit for you, crowdfunding is one method of getting it off the ground. Other financing options include small business credit cards that give you special discounts as well as hustling for some extra money.
In the infographic below from Investment Zen, the top ten most funded crowdfunded projects are listed along with their outcomes.