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Kickstarter projects break the $1 million barrier

The first project to break the $1 million barrier was Portland, Ore.-based Elevation Lab’s Elevation Dock, a high-end aluminum iPhone dock, which began raising money on the site in December.

Kickstarter elevation dock 2012 02 10Enlarge
The Elevation Dock's project page on Kickstarter on Feb. 10, 2012. (Kickstarter/Screengrab)

An entrepreneur attempting to raise funding through crowd-sourced funding website Kickstarter yesterday raised $1 million for the first time in the history of the site, the Los Angeles Times reported. A few hours later, a second group of entrepreneurs had also raised $1 million to support their project.

The first project to break the $1 million barrier was Portland, Ore.-based Elevation Lab’s Elevation Dock, a high-end aluminum iPhone dock, which began raising money on the site in December. Supporters who pledge at least $59 get one or more Elevation Docks. As of this writing, the project had collected pledges totaling $1,211,856 from 11,023 backers, with 22 hours left to raise money.

The second project to earn $1 million was a new computer game by game designer Tim Schafer and Double Fine Productions, the LA Times reported. It took Double Fine, which had asked for $400,000 from donors, less than 24 hours to reach the $1 million mark, according to PC World. Donors who pledge $15 or more get access to the game. The company still has 38 days left to raise additional funds.

Previously, the record for the most money raised on Kickstarter was $942,578, collected by the TikTok+LunaTik Multi-Touch Watch Kit, a wristwatch cradle for the iPod Nano, MSNBC reported.

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http://www.globalpost.com/dispatch/news/regions/americas/united-states/120210/kickstarter-one-million-elevation-dock-double-fine-tim-schafer