Key Takeaways Kickstarter is expanding its strategy and making big changes after helping entrepreneurs raise more than $8 billion in the 15 years it's been in business. The crowdfunding site, which allows entrepreneurs to fund projects big and small in exchange for early access to rewards, announced last week that it would be introducing Late Pledges, a feature that allows creators to get funding — even after a campaign officially ends. Related: Kickstarter Is Opening Up Its Platform to Creators and Making Big Changes to Its Model "Creators for so long left so much money on the table," Kickstarter CEO Everette Taylor tells Entrepreneur .
"They might go viral at the end of the campaign, or backers discover a cool project and want to support, but the funding period has passed." Late Pledges mean that creators can get extra revenue and maximize their reach. "You're going to see a lot more people raise 30, 40, 50% of their goal or even double their raise," Taylor said.
Kickstarter CEO Everette Taylor. (Photo by Arturo Holmes/Getty Images) Kickstarter also introduced an in-house performance marketing team to help creators extend their reach and a new mobile app experience. The platform takes a 5% cut of successfully funded projects; the percentage hasn't changed since 2009.
Creators have to pay an additional 3-5% to process payments. "One of the first things I wanted to do was just listen to our creators and let us let them guide us," Taylor said. "So all of the things that you'.
