Kickstarter Struggles to Regain Relevance After Toxic Culture, Failed Initiatives Tarnish Darling Startup

• Kickstarter was a darling startup in its early days, but over time lost momentum and culture turned toxic amid leadership changes and a failed union drive

• Facing stagnant growth, Kickstarter took a surprise $100M investment from a16z crypto in 2021 to pivot to blockchain

• The blockchain pivot triggered backlash from Kickstarter's community and was soon abandoned, damaging the company's reputation

• Multiple failed initiatives like the blockchain pivot have distracted Kickstarter from addressing core business issues like flatlining growth

• With its brand tarnished and key creators leaving, Kickstarter is struggling to regain relevance against newer crowdfunding platforms