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Kickstarter will be an 'institution for generations,' no plans to sell

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No equity crowdfunding for backers

Crowdfunding platform Kickstarter will be an "institution for generations," according to website CEO Perry Chen during the GigaOM Roadmap conference.

The Kickstarter team has no intention to sell the business, nor will the platform incorporate an equity crowdfunding model, in which backers can own a portion of company they invest in, Perry added.

"We think the most disruptive aspect is the removal of the investment component," said Chen. "People are supporting projects because they want to see them happen. It's so different than giving money because you want to make a profit."

The team behind Kickstarter is currently working to help backers understand their role in the crowdfunding system, and recently updated the site's official blog with a post explaining how Kickstarter does not function like a store.

"You're supporting somebody at a decently early stage, and you should understand that's what you're getting involved in," Chen explained. "Delays are not infrequent. It's really about the creator setting the expectations for backers, and then if they have trouble, being very transparent."

Kickstarter first launched in 2009 by Chen, Yancey Strickle and Charles Adler. The platform has since gone on to help launch numerous multi-million dollar projects and has helped independent game developers find both funding and an audience for their upcoming games.

Check out our in-depth news piece analyzing the risks and reality behind backing projects on Kickstarter.