Ouya Breaks Crowdfunding Record – Exceeds Target By Millions

crowd funding kickstarter startup financing

Update: Ouya raised $8,596,475 from 63,416 backers!

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tl;dr Video project breaks funding record on crowdfunding site. Raises over $8 million, well over their goal of $950,000. What does this mean for the future of startup funding?

Breaking Crowdfunding Records

In July we wrote about a video project breaking funding records on crowdfunding site, Kickstarter.

A month ago Ouya listed on Kickstarter and within 8 hours achieved a million dollars of funding. In 24 hours they had reached $2.5 million. Their listing closes Thursday and they currently sit on just over $7 million. An amazing achievement considering their original funding goal was only $950,000. So either they underestimated their project or backers have overestimated the value. Either way this is a truly impressive result.

As we write 54,528 backers have pledged $7,262,319 to help Ouya. While this won’t break the record set by Pebble Watch earlier in the year (they raised $10 million) it continues to show the effectiveness of financing projects via this mechanism of funding. A couple of years ago it is unlikely such projects would have seen light of day.

Congratulations to Ouya and all their backers. We hope this can realise all the objectives set out in their pledge.

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