Molly WhiteMar 11, 2024

Kickstarter's bizarre blockchain announcement in December 2021 makes so much more sense now that we know Andreessen Horowitz secretly promised them $100 million to pivot to a blockchain-based product built on the also-a16z-backed Celo blockchain.

At the time, I wondered why COO Sean Leow was so insistent on the move despite being apparently very confused about the whole concept.

https://fortune.com/crypto/2024/03/11/kickstarter-blockchain-a16z-crypto-secret-investment-chris-dixon/
(archive: https://web.archive.org/web/20240311124253/https://fortune.com/crypto/2024/03/11/kickstarter-blockchain-a16z-crypto-secret-investment-chris-dixon/)

#AndreessenHorowitz #crypto #blockchain #kickstarter

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.

Fortune
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@molly0xfff Thanks for sharing the Fortune article. The thing that struck me was that Kickstarter was floundering, not because it wasn't profitable, but it wasn't profitable enough.

Consistently 20,000 projects funded, 10s of millions in revenue?

That's only not a resounding success if you think the only value is in growth for shareholders! but then, this is an article in Fortune...

Mar 12, 2024 at 4:14pmWeb