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The untold story of Kickstarter’s crypto Hail Mary—and the secret $100 million a16z-led investment to save its fading brand

In early December 2021, employees at the crowdfunding startup Kickstarter got news of a windfall: An investor group wanted to buy some of their shares. The news came as a surprise. While the workers had amassed equity in the firm for years, many had given up hope of ever selling it. The Kickstarter they now worked for was a very different place than the red-hot startup of 2009 that had launched viral projects like Cards Against Humanity and Peloton. For a while, Kickstarter was the toast of entr...

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