www.theverge.com - 1 year ago

Kickstarter is now legally required to act for the greater good

Kickstarter this week reincorporated as a public benefit corporation, The New York Times reports, a designation that legally obliges it to pursue a "positive impact on society." The company announced the move on its website Sunday, officially changing its name from Kickstarter Inc to Kickstarter PBC

The idea, according to the crowdfunding site's founders, is to shield Kickstarter's mission helping people finance creative projects from the influence of investors and shareholders. The designation does not preclude Kickstarter from going public or selling, and it doesn't change its status as a for-profit company. But it does hold the company to high standards of transparency, requiring it to regularly report on its social impact and...

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