Kickstarter makes itself legally bound to pursue public benefit

Taipei

CROWDFUNDING platform Kickstarter has reincorporated itself as a Public Benefit Corporation, joining US companies like Patagonia Inc in legally enshrining the pursuit of social values in their business.

The service known for pooling funds from individual investors for electronic gadgets and movies has changed its name to Kickstarter PBC from Kickstarter Inc, the company said on its blog. "More and more voices are rejecting business as usual, and the pursuit of profit above all," the company said. "Positive impact on society becomes part of a Benefit Corporation's legally defined goals."