Kickstarter passes $1B in pledges 5 years in

Kickstarter is even more popular than you thought: The crowdfunding startup raised 500 million alone in the last 12 months.

Today Kickstarter announced it has passed $1 billion in pledges, contributed by 5.7 million users across 224 countries. The startup, which provides a system for creatives and technologists to crowdfund ambitious projects, has led to the creation of numerous products, including the Pebble Smartwatch and the OUYA gaming console — in addition to some less admirable pursuits.

In its report, Kickstarter shared a few other interesting stats: More than 1.6 million of its users have backed more than two or more projects, and 15,932 users have backed 50 or more projects.

Kickstarter is not without flaws. As the startup ballooned to mainstream status in 2013, questions of accountability emerged among failed projects. That in mind, it appears Kickstarter has yet to reach its peak; the five-year-old service still offers an enticing opportunity for artists and product designers to fund their projects without giving up equity to traditional investors.