INDIEGOGO /ˌɪndiˈɡoʊɡoʊ/ is an international crowdfunding
website founded in 2008 by Danae Ringelmann, Slava Rubin, and Eric
Schell. Its headquarters are in
San Francisco ,
California . The site
is one of the first sites to offer crowd funding.
people to solicit funds for an idea, charity, or start-up business.
Indiegogo charges a 5% fee on contributions. This charge is in
addition to credit card and
PayPal charges that range from 3.5% to 9%.
Fifteen million people visit the site each month.
The site runs on a rewards-based system, meaning donors, investors,
or customers who are willing help to fund a project or product can
donate and receive a gift, rather than an equity stake in the company.
Following changes in
Security and Exchange Commission rules earlier
Indiegogo has partnered with
MicroVentures to offer equity
-based campaigns beginning in November 2016, allowing unaccredited
investors to participate with equity stakes.
Indiegogo Life, a service that people can
use to raise money for emergencies, medical expenses, celebrations, or
other life events.
Indiegogo Life did not charge a platform fee. In
Indiegogo Life was renamed to Generosity.com. Donors use solely
credit cards to donate, and processing is conducted by Stripe .
Stripe's processing fees of 3% plus 30 cents of every donation still
* 1 History
* 2 Crowd funding
* 2.1 Top projects by funds raised
* 3 Campaign rules
* 4 Reception
* 5 Patent disputes
* 6 See also
* 7 References
* 8 External links
In 2002, while working as an analyst on Wall Street, Danae Ringelmann
co-produced a reading of an
Arthur Miller play. Though the performance
was popular with audiences, there was little financial incentive
available, and Ringelmann decided to seek alternative revenue streams.
Ringelmann was originally inspired to work with independent
filmmakers and theater producers after a filmmaker 50 years her senior
saw she worked at
JPMorgan and asked her to fund his film. In 2006,
Ringelmann went on to the
Haas School of Business
Haas School of Business to start a company
she felt would "democratize" fundraising. There she met Eric Schell
and Slava Rubin, who had had similar experiences with fundraising.
Schell had previously worked with The House Theater Company in
Chicago, while Rubin had started a charity fundraiser for cancer
research, after losing his father to cancer as a child.
Ringelmann, Schell, and Rubin developed their concept in 2007, under
the name Project Keiyaku. The site officially launched at the
Sundance Film Festival
Sundance Film Festival in January 2008, with a focus on film projects.
In June 2010,
MTV New Media partnered with
Indiegogo to develop new
content from the site's projects. In September 2011, the company
raised a $1.5 million Series Seed financing round, led by Metamorphic
Ventures, ff Venture Capital , MHS Capital and Steve Schoettler,
Zynga's co-founder. In February 2012, President
Barack Obama 's
Startup America partnered with
Indiegogo to offer crowdfunding to
entrepreneurs in the U.S.
In June 2012,
Indiegogo raised a $15 million Series A round from
Insight Ventures, Khosla Ventures and Steve Schoettler, Zynga's
co-founder. In January 2014, a Series B round of funding added $40
million to bring the total venture capital raised to $56.5 million.
In an interview with
Film Threat , Rubin said the site is “...all
about allowing anybody to raise money for any idea.” Users can
create a page for their funding campaign, set up an account with
PayPal , make a list of "perks" for different levels of investment,
then create a social media –based publicity effort. Users publicize
the projects themselves—through
Twitter and similar
platforms. The site levies a 5% fee for successful campaigns. For
campaigns that fail to raise their target amount, users have the
option of either refunding all money to their contributors at no
charge or keeping all money raised minus a 9% fee. This option must
be selected BEFORE the campaign begins, and the goal will be listed,
directly underneath the amount raised, as fixed (only receive funds if
goals is met) or flexible (will receive funds if goal is not met).
Unlike similar sites such as
Indiegogo disburses the
funds immediately, when the contributions are collected through the
Indiegogo also offers direct credit card
payment acceptance through their own portal. Those funds are disbursed
up to two weeks after the conclusion of a campaign. According to The
Wall Street Journal , as of January 2014 over 200,000 campaigns have
been launched, raising "millions of dollars" to people running
crowdfunding campaigns in 70 to 100 countries every week.
Already-funded projects also use Indiegogo, to create publicity or
A few of the successful
Indiegogo campaigns include:
* "Lets Give Karen – The bus monitor – H Klein A Vacation!" ,
which raised $703,833,
* Stick-N-Find, which has raised $861,165,
Bug-a-Salt , which raised $577,546,
* Let\'s Build a Goddamn Tesla Museum , which raised $1.3 million,
* The Storm Electric Bike , which as of 19 February 2015 has raised
$3.5 million from 6,293 funders.
SuperMeat , an Israeli company designing a method to produce a
meat-equivalent product without animal slaughter by cultivating tissue
samples taken from a chicken and developing them into a market-ready
On 24 July 2013,
Canonical Ltd. launched its crowdfunding campaign
Indiegogo to raise $32 million for the
Ubuntu Edge smartphone .
This is the highest target set for any crowdfunding campaign.
However, the campaign only raised $12.8 million, falling short of its
target, and no funds were disbursed.
In February 2014,
Indiegogo launched an unsuccessful funding campaign
for the Books Project, which had planned to print the entire
English in book form later in the year.
In April 2014, after being shown clear evidence of fraud, Indiegogo
responded by deleting their anti-fraud guarantee.
TOP PROJECTS BY FUNDS RAISED
List of highest funded crowdfunding projects
Five largest successfully completed
Indiegogo projects by total funds
pledged (only funded projects are listed)
Sondors Electric Bike
Restore King Chapel Now
An Hour of Code for Every Student
Super Troopers 2
Super Troopers 2
Broken Lizard Industries
Users between the ages of 13 and 17 may not use the site without a
parent or legal guardian's consent. Campaign owners may not create a
campaign that tries to raise funds for illegal activities, or that is
clearly made up or claiming to do something impossible.
If the campaign offers perks, it can't offer any forms of interest in
the company or venture, or any financial incentive. The campaign
cannot offer alcohol, drugs, weapons or ammunition, or any form of
lottery or gambling. A campaign can not promote ideas or opportunities
of hate, personal injury, death, or damage of property, or anything
that can be distributed that violates another person's rights.
Indiegogo is one of the two most popular
donation-based crowdfunding websites.
Indiegogo has looser guidelines
than Kickstarter, letting users fund campaigns that
On 23 January 2015 a patent infringement lawsuit was filed by
Alphacap Ventures LLC against multiple crowdfunding platforms,
including Indiegogo, CircleUp,
GoFundMe , Kickstarter, Gust, RocketHub
and Innovational Funding.
Comparison of crowd funding services
* ^ "Indiegogo.com Site Info".
Alexa Internet . Retrieved 22 August
* ^ Danae Ringelmann interviewed on the TV show Triangulation on
* ^ https://www.indiegogo.com/about/our-story
* ^ A B Lora Kolodny. "Early
On Famous New Investors". WSJ.
* ^ Cowley, Stacy (15 November 2016). "Ever Wanted to Back a
Indiegogo Opens the Door to Small Investors". New York Times
. Retrieved 15 November 2016.
* ^ Stacy Cowley (21 October 2015). "ndiegogo Creates
Generosity.com for Personal Fund-Raising Campaigns".
* ^ "
Indiegogo Life Helps You Fund Good Deeds". TechCrunch. AOL.
* ^ A B C Danae Ringelmann (2011). Leveling the Funding Playing
Field, One Dollar at a Time.
* ^ A B C Sacks, Danielle (3 March 2010). "Danae Ringelmann,
cofounder of IndieGoGo". Fast Company. Retrieved 16 June 2012.
* ^ A B "Danae Ringelmann, MBA 08". CalBusiness. Berkeley,
Haas School of Business
Haas School of Business at the University of California,
Berkeley. Retrieved 16 June 2012.
* ^ "Eric Schell". CrunchBase. Retrieved 16 June 2012.
* ^ "Can You Spare a Quarter?
Crowdfunding Sites Turn Fans into
Patrons of the Arts". Knowledge@Wharton. Philadelphia: The Wharton
School of the University of Pennsylvania . 8 December 2010.
* ^ "Filmmakers hope for online funds". Variety.
* ^ "CinemaTech: IndieGoGo: A Social Network for Filmmakers Raising
Money (and Their Backers)". cinematech.blogspot.com.
* ^ Ringelmann, Danae (7 June 2010). "Calling All IndieGoGo
MTV New Media Wants You!".
Indiegogo Blog. Indiegogo.
* ^ Roush, Wade (7 September 2011). "Wednesday Deals Roundup:
IndieGoGo, Project Frog, BlueArc".
* ^ Loten, Angus (22 April 2011). "\'Startup America\' Embraces
Crowd-funding". In Charge. The Wall Street Journal.
* ^ Taylor, Colleen (6 June 2012). "
Indiegogo Raises $15 Million
Series A To Make
Crowdfunding Go Mainstream".
* ^ A B Kolodny, Lora (28 January 2014). "
Indiegogo Raises $40M in
Largest Venture Investment Yet for
Crowdfunding Startup". The Wall
* ^ "Wake Me Up Before You Indiegogo: Interview With Slava Rubin".
Film Threat . Retrieved 16 December 2010.
* ^ "Learn More". Indiegogo. Retrieved 16 June 2012.
* ^ Needleman, Sarah (1 November 2011). "When \'Friending\' Becomes
a Source of Start-Up Funds". Wall Street Journal. Retrieved 5 December
* ^ Todd Essig (18 April 2012). "Why Raising 2/3 of a Million
Dollars For Bus Monitor Karen Klein Was So Easy". Forbes. Retrieved 28
* ^ "StickNFind – Bluetooth Powered ultra small Location
Stickers". Indiegogo. 27 November 2012. Retrieved 20 January 2013.
* ^ "BugASalt – The Final Push". Indiegogo. 11 September 2012.
Retrieved 28 October 2012.
* ^ "Tesla Museum Supporters Raise $1.3 Million Over
Eric Johnson – News". AllThingsD. 29 September 2012. Retrieved 28
* ^ "Storm Electric Bike". Indiegogo. 2 February 2015. Retrieved 19
* ^ "Is the $500 Storm e-bike too good to be true? Looks like".
Treehugger. 5 February 2015. Retrieved 5 February 2015.
* ^ Lulu Chang (11 July 2016). "
SuperMeat wants you to try its
lab-grown chicken breast". Digital Trends.
* ^ Charles Arthur. "Go ahead and order an
Ubuntu Edge – but
you\'ll wish you\'d bought a tablet". the Guardian.
* ^ Jeff Parsons (23 July 2013). "
Ubuntu Edge smartphone breaks
crowdfunding record". T3.com.
* ^ Brodkin, Jon. (22 August 2013)
Ubuntu Edge is dead, long live
Ubuntu phones. Ars Technica. Retrieved on 21 September 2013.
* ^ Alison Flood (20 February 2014). "1,000-volume print
edition planned". The Guardian. Retrieved 22 February 2014.
* ^ "The Books Project". Indiegogo. 11 April 2014. >
* ^ "After Pando shows clear evidence of fraud,
by… deleting anti-fraud guarantee". PandoDaily.
* ^ "ALL CATEGORIES – Most Funded". Indiegogo.com. 10 June 2015.
* ^ "Flow Hive: Honey on Tap Directly From Your Beehive".
Indiegogo. Retrieved 7 March 2015.
* ^ Flow Team (22 February 2015). "Honey On Tap From Your Bee
Hive!". Retrieved 7 March 2015.
* ^ "Sondors Electric Bike". Indiegogo. Retrieved 10 June 2015.
* ^ "Restore King Chapel Now. Every Day & Dollar Counts".
Indiegogo. Retrieved 19 February 2015.
* ^ "An Hour of code for every student". Indiegogo. Retrieved 19
* ^ "Super Troopers 2". Indiegogo. Retrieved 19 February 2015.
* ^ Chance Barnett (9 September 2013). "Donation-Based Crowdfunding
Kickstarter Vs. Indiegogo". Forbes.
* ^ "Details Emerge on Patent Lawsuit Against Multiple Crowdfunding