Kickstarter Wants To Make Being A Benefit Corporation Cool
Kickstarter has reincorporated itself as a public benefit corporation, and it's hoping to convince more for-profit businesses to do the same.By Leah Becerra | September 21, 2015
Crowdfunding website Kickstarter did something that very few companies can even claim to have thought about doing: It became a public benefit corporation.
A benefit corporation is still a for-profit business, but it's also legally required to do good deeds that address social and environmental problems.
In Kickstarter's case, the good deeds will include not selling users' data to third parties, not using loopholes in the tax code to pay less taxes, investing in green infrastructure, donating 5 percent of after-tax profits and "fighting to end systemic inequality."