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Type of site
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Indiegogo // is an international crowdfunding web site. It was founded in 2008 by Danae Ringelmann, Slava Rubin, and Eric Schell in 2008. Its headquarters are in San Francisco, California. The site is one of the first sites to offer crowd funding. Indiegogo allows people to solicit funds for an idea, charity, or start-up business. Indiegogo charges a 9% fee on contributions, and returns 5% if the campaign reaches its goal. This charge is in addition to credit card and PayPal charges that range from 3.5% to 9%. Thus, depending on whether the campaign reaches its goal and how contributors pay, total charges can range from 7.5% to 18%.
The site’s market is anyone who has an idea and wants to raise funds to finance their goal. Nine million people from all around the world visit the site on a monthly basis.
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. However, CEO Slava Rubin has stated that the company is interested in moving towards equity funding in the future once laws around it become clearer in the U.S.
In 2014, Indiegogo launched Indiegogo Life, a service that people can use to raise money for emergencies, medical expenses, celebrations, or other life events. Indiegogo Life does not charge a platform fee, so fundraisers keep more of the money they raise.
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 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 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 Facebook, Twitter and similar platforms. The site levies a 4% 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. Unlike similar sites such as Kickstarter, Indiegogo disburses the funds immediately, when the contributions are collected through the user's PayPal accounts. 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 find distributors.
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 February 19, 2015 has raised 3,466,269 from 6,293 funders 
On 24 July 2013, Canonical Ltd. launched its crowdfunding campaign via 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 April 2014, after being shown clear evidence of fraud, Indiegogo responded by deleting their anti-fraud guarantee.
Top projects by funds raised
|Rank||Total USD||Project name||Creator||Category||% funded||Backers||Closing date|
|1||$5,022,041||An Hour of Code for Every Student||Code.org||Education||26,570||2,801||2014-12-14|
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.
In May 2014, the company expanded and welcomed new investors, including
- Sir Richard Branson, founder of Virgin Group
- Max Levchin Yelp, Chairman and co-founder of PayPal
- Maynard Webb, Yahoo Board Chairman
- Tim Draper, founding partner of Draper Fisher Jurvetson
- Dawn Lepore, former Chief Executive of drugstores.com
- Hans Morris, former Visa President
The new money and support follows a $40 million Series B financing that will accelerate its international expansion and develop new product features.
Along with Kickstarter, Indiegogo is one of the most popular crowdfunding websites in America and is generally well received by its users. The majority of reviews praise Indiegogo’s ease of use and customer support, while some criticize the site’s inability to draw in funding from strangers. Indiegogo is more tolerant of projects and has looser guidelines than Kickstarter. The site lets people fund campaigns that Kickstarter would not.
On January 23, 2015 a patent infringement lawsuit was filed against IndieGogo by Alphacap Ventures LLC.
- Danae Ringelmann interviewed on the TV show Triangulation on the TWiT.tv network
- Dan Schawbel (4 October 2012). "Full Interview: Slava Rubin on How Indiegogo Has Created Jobs". Forbes.
- Lora Kolodny. "Early Crowdfunding Player Indiegogo Brings On Famous New Investors". WSJ.
- Katie Roof. "Indiegogo CEO on Crowdfunding’s Future". Fox Business.
- "Indiegogo Life Helps You Fund Good Deeds". TechCrunch. AOL.
- Danae Ringelmann (2011). Leveling the Funding Playing Field, One Dollar at a Time.
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- "Danae Ringelmann, MBA 08". CalBusiness. Berkeley, California: Haas School of Business at the University of California, Berkeley. Retrieved 16 June 2012.
- "Eric Schell". CrunchBase. Retrieved 16 June 2012.
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- 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.
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- Needleman, Sarah (1 November 2011). "When 'Friending' Becomes a Source of Start-Up Funds". Wall Street Journal. Retrieved 5 December 2011.
- Todd Essig (18 April 2012). "Why Raising 2/3 of a Million Dollars For Bus Monitor Karen Klein Was So Easy". Forbes. Retrieved 28 October 2012.
- "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 Indiegogo – Eric Johnson – News". AllThingsD. 29 September 2012. Retrieved 28 October 2012.
- "Storm Electric Bike". Indiegogo. 2 February 2015. Retrieved 19 February 2015.
- "Is the $500 Storm e-bike too good to be true? Looks like.". Treehugger. 5 February 2015. Retrieved 5 February 2015.
- 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). "Wikipedia 1,000-volume print edition planned". The Guardian. Retrieved 22 February 2014.
- "The Wikipedia Books Project". Indiegogo. 11 April 2014.>
- "After Pando shows clear evidence of fraud, Indiegogo responds by… deleting anti-fraud guarantee". PandoDaily.
- "ALL CATEGORIES - Most Funded". Indiegogo.com. February 19, 2015.
- Indiegogo https://www.indiegogo.com/projects/an-hour-of-code-for-every-student. Retrieved 19 February 2015. Missing or empty
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