News
Kickstarter Changes Its Status
September 22, 2015
Kickstarter, the crowdfunding website, announced Sunday it would reincorporate as a “public benefit corporation.” This designation requires companies to do something that would help the public, include that goal in their corporate charter and report on its social impact. Kickstarter’s founders said its mission would be to “help bring creative projects to life.” (By way of example, Patagonia and This American Life are also public benefit corporations.) Kickstarter became a B Corporation last year, which means it has to meet rigorous environmental and social responsibility standards and report its progress to shareholders. Etsy, an e-commerce site, and Warby Parker, which sells eyeglasses, are also B Corporations. [NYT]
