As reported by The Huffington Post, a watch that syncs with iPhone and Android devices took the crowd-sourced fundraising web site Kickstarter by storm earlier this month, meeting its project goal of $100,000 in two hours.
Pledges continued to pour in well after the goal was met, surpassing $1 million in 28 hours.
Kickstarter told Bloomberg News on Tuesday that the watch is now the "highest grossing project" in the site's two-year history. At time of writing, the project had garnered more than $4.5 million in pledges, with 30 days of fundraising remaining.
The project offers different incentives based on a contributor's level of involvement, including discounts on pre-ordered watches. The most popular pledge at time of writing was at the level of $115 or more, which had attracted 19,720 backers.
The watch's lead developer, Eric Migicovsky, told Bloomberg News that he is better at pitching directly to consumers than to venture capitalists. He also lauded Kickstarter's funding model.
“It’s very clear that the Kickstarter guys have that viral path down pat,” Migicovsky told Bloomberg. “When a cool project shoots up, it shoots high.”Page 1 of 2 | Next Page