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Kickstarter's $100M blockchain pivot sparks community backlash

Kickstarter received a $100 million investment led by Andreessen Horowitz in late 2021, valuing the company at approximately $400 million. This investment was intended to revitalize the struggling crowdfunding platform, which had lost its cultural cachet and faced internal turmoil. However, the condition of pivoting towards blockchain technology was met with strong community backlash, leading to significant project losses and reputational damage. AI

影响 Minimal direct impact on AI operators; this is primarily a business and strategy story about a crowdfunding platform.

排序理由 Significant funding round for a well-known tech company with a strategic pivot. [lever_c_demoted from significant: ic=1 ai=0.1]

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Kickstarter's $100M blockchain pivot sparks community backlash

报道来源 [1]

  1. Fortune TIER_1 English(EN) · Leo Schwartz, Jessica Mathews ·

    The untold story of Kickstarter’s crypto Hail Mary—and the secret $100 million a16z-led investment to save its fading brand

    Inside the once-hot startup’s struggle to regain relevance despite a massive check from the crypto arm of venture giant Andreessen Horowitz.