Indiegogo

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Indiegogo
Website logo
Crowdfunding
languages English, German, French, Spanish
operator Indiegogo Inc.
Registration Yes
On-line 2008
http://www.indiegogo.com

Indiegogo is an international crowdfunding website founded in 2008 by Danae Ringelmann, Slava Rubin and Eric Schell. The website is operated out of San Francisco , California .

history

In 2002, Danae Ringelmann, who was a Wall Street analyst at the time, co-produced a reading of a play by Arthur Miller . Although the performance was well received by the audience, it brought in very little financially, and Ringelmann looked for other sources of income. Ringelmann originally planned to work with independent filmmakers and theater producers after a filmmaker saw them at JPMorgan and asked them to fund his film. In 2006, Ringelmann went to the Haas School of Business to start a company to democratize fundraising . There she met Eric Schell and Slava Rubin, who had similar experiences in fundraising. Schell had worked for The House Theater Company in Chicago , while Rubin held charity events in aid of cancer research after his father died of cancer when he was a child.

Ringelmann, Schell and Rubin developed their concept in 2007 under the name Project Keiyaku . The website was launched in January 2008 as Indiegogo for the Sundance Film Festival . The focus was on film financing. In June 2010, Indiegogo partnered with MTV New Media . In September 2011, the company launched a $ 1.5 million funding campaign with the help of Metamorphic Ventures, ff Venture Capital, MHS Capital, and Zynga co-founder Steve Schoettler. In February 2012, the Startup America campaign initiated by President Barack Obama entered into a partnership with Indiegogo to give interested parties from the United States access to crowdfunding.

In June 2012, Indiegogo started a "Series A round" with the help of Insight Ventures, Khosla Ventures and Zynga co-founder Steve Schoettler, with a volume of 15 million dollars.

In April 2014 Indiegogo opens an office in Berlin.

Crowdfunding

In an interview with Film Threat , Rubin said the website aims to give everyone the opportunity to raise funds for any idea. The website is structured in such a way that users create a page for their campaign and a PayPal account for it, create a list of “perks” for different amounts of donation and set up public access based on social media . The users advertise their projects through Facebook , Twitter and similar platforms. Indiegogo receives a 4% fee for successful campaigns. If a campaign fails, the user can choose whether to return the money to the donors free of charge or to keep it anyway, in which case Indiegogo receives a 9% fee. Unlike similar sites like kickstarter.com , Indiegogo pays out the funds immediately upon receipt of the funds in the user's PayPal account. Indiegogo also accepts credit card payments through its own portal. These funds are paid out two weeks after a campaign ends. According to The Wall Street Journal , more than 45,000 campaigns had been launched as of October 2011, generating millions of dollars a month. Indiegogo is also used by existing projects to attract attention or find new donors.

Examples of Indiegogo campaigns are "Lets Give Karen - The bus monitor - H Klein A Vacation!" With a result of 703,833 dollars, "Stick-N-Find" (Bluetooth mini-tracking device) with a score of 931,870 US dollars, "bug-a-Salt" ( "weapon" for insect hunting) with a score of 577,636 US dollars and "Let's Build a Goddamn Tesla Museum" ( Nikola Tesla -Museum) with a score of 1.3 Million dollars.

On July 24, 2013 Canonical Ltd.  a crowdfunding campaign at Indiegogo to raise $ 32 million to develop the Ubuntu Edge, a smartphone with an Ubuntu operating system. This is the highest goal ever set for a crowdfunding campaign. With a result of around 12 million dollars, the self-set goal was missed.

According to a 2014 report by The New York Observer magazine , Indiegogo is taking insufficient precautions against fraudulent campaigns ( scam ). The crowdfunding campaign for the development of a new type of smartwatch , the initiator of which is said to have spent the money on private consumption instead of development, was cited as an example .

Web links

supporting documents

  1. ^ A b c Danae Ringelmann: Leveling the Funding Playing Field, One Dollar at a Time. TED Conferences, 2011, accessed on August 13, 2013 (English, online video of a lecture at TEDxDubai 2011).
  2. a b c Danielle Sacks: Danae Ringelmann, cofounder of IndieGoGo. Fast Company, March 3, 2010, accessed August 13, 2013 .
  3. a b Danae Ringelmann, MBA 08. In: CalBusiness. Haas School of Business at the University of California, Berkeley, 2009, accessed August 13, 2013 .
  4. ^ Eric Schell Profiles. CrunchBase, accessed August 13, 2013 .
  5. Can You Spare a Quarter? Crowdfunding Sites Turn Fans into Patrons of the Arts. In: Knowledge @ Wharton. The Wharton School of the University of Pennsylvania, December 8, 2010, accessed August 13, 2013 .
  6. ^ Scott Kirsner: Filmakers hope for online funds. Variety, March 30, 2007, accessed August 13, 2013 .
  7. ^ Scott Kirsner: IndieGoGo: A Social Network for Filmmakers Raising Money (and Their Backers). CinemaTech, January 14, 2008, accessed August 13, 2013 .
  8. Danae Ringelmann: Calling All IndieGoGo Creators - MTV New Media Wants You! Indiegogo Blog, June 7, 2010, accessed August 13, 2013 .
  9. Wade Roush: Wednesday Deals Roundup: IndieGoGo, Project Frog, BlueArc. Xconomy, September 7, 2011, accessed August 13, 2013 .
  10. ^ Angus Loten: 'Startup America' Embraces crowd-funding. The Wall Street Journal, April 22, 2011, accessed August 13, 2013 .
  11. Colleen Taylor: Indiegogo Raises $ 15 Million Series A To Make Crowdfunding Go Mainstream. TechCrunch , June 6, 2012, accessed August 14, 2013 .
  12. Crowdfunding platform Indiegogo comes to Germany. Heise Online, March 28, 2014, accessed April 5, 2014 .
  13. Mark Bell: Wake Me Up Before You Indiegogo: Interview With Slava Rubin. Film Threat, October 5, 2010, accessed August 14, 2013 .
  14. ^ How Pricing Works. Indiegogo, accessed August 14, 2013 .
  15. ^ A b Sarah Needleman: When 'Friending' Becomes a Source of Start-Up Funds. Wall Street Journal, November 1, 2011, accessed August 14, 2013 .
  16. Todd Essig: Why Raising 2/3 of a Million Dollars For Bus Monitor Karen Klein Was So Easy. Forbes, April 18, 2012, accessed August 14, 2013 .
  17. StickNFind- Bluetooth Powered ultra small location stickers. Indiegogo, November 27, 2012, accessed August 14, 2013 .
  18. BugASalt- The Final Push. Indiegogo, September 11, 2012, accessed August 14, 2013 .
  19. Eric Johnson: Tesla Museum Supporters Raise $ 1.3 Million Over Indiegogo. AllThingsD, September 29, 2012, accessed on August 14, 2013 .
  20. Charles Arthur: Go ahead and order an Ubuntu Edge - but you'll wish you'd bought a tablet. guardian.co.uk, July 23, 2013, accessed August 14, 2013 .
  21. Jeff Parsons: Ubuntu Edge smartphone breaks crowdfunding record. T3 News, July 24, 2013, accessed August 14, 2013 .
  22. Ubuntu Edge. indiegogo.com, accessed September 2, 2013 .
  23. Jack Smith IV: Indiegogo's 'Scampaign' Problem: Latest Crowdfunded Smartwatch Is Total Garbage. In: The New York Observer. August 21, 2014, accessed September 1, 2015 .