Kickstarter Now a Public Benefit Corporation

The crowdfunder takes a new approach to its business.

By Kyle England. Posted 09/23/2015 16:00 Comment on this     ShareThis

In a very anti-Wario type move, the top crowdfunding website Kickstarter has official turned from Kickstarter, Inc. to Kickstarter PBC – a public benefit corporation. A PBC is a type of American company that is dedicated not to stockholder profit, but to benefiting society at large. “Positive impact on society becomes part of a Benefit Corporation’s legally defined goals.” said Kickstarter in its statement released earlier this week.

As part of this new change, Kickstarter is committing to donating 5% of all annual post-tax company revenue to arts education and organizations fighting inequality. The company is taking a stance on how it affects the world and is proud of it. In fact, only 0.01% of American businesses are currently designated as PBCs.

Kickstarter has brought about many great projects, especially those for the enjoyment of Nintendo fans. Nintendo projects funded on Kickstarter include the fantastic Shovel Knight, and upcoming projects like Yooka-Laylee and Bloodstained.

To close its announcement, Kickstarter said “From Kickstarter’s inception, we’ve focused on serving artists, creators, and audiences to help bring creative projects to life. Our new status as a Benefit Corporation hard-codes that mission at the deepest level possible to guide us, and future leaders of Kickstarter. To all the creators and backers who have helped make Kickstarter what it is today — we’re excited to keep working with you, and helping new creative projects come to life as Kickstarter PBC.”

Source: Kickstarter

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