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Fact Card: Indiegogo

Fact Card is a series of posts summarising crowdsourcing and public decision making initiatives relevant to our project. Please post a comment or email us with any clarification.

Indiegogo

What?
Indiegogo is an international crowdfunding platform launched in 2008. Indiegogo has many of the same basic features as, for example, Kickstarter. Indiegogo is open for projects internationally and anyone with a bank account can start a project or contribute to projects.

How does it work?

  • Like in many other crowdfunding services, the project needs a project page to explain visitors what the project is about, what is happening, how the users can help and what unique returns they’ll get for becoming contributors. Ownership of the campaign remains with the project initiators.
  • Indiegogo uses an algorithm called the gogofactor. After a funding campaign is launched, sharing, tweeting, and “likes” of the campaign boost the gogofactor and once raised enough the project can be featured on the Indiegogo homepage.
  • Indiegogo offers two funding types: Flexible Funding allows projects to keep the money they raise, regardless of whether they meet their goal. Fixed Funding refunds the money back to contributors if the goal is not met. Indiegogo retains 4% of the funding and 3% goes to third parties for processing credit card fees. An extra 9% is retained with Flexible Funding if the project does not meet its goal but they keep what they have gathered.

Who’s involved?
Project creators, backers (registered users can act as both). Indiegogo is run by Indiegogo Inc.

Status:
Active. Indiegogo is an international platform with campaigns running in over 200 countries.

Website:
www.indiegogo.com

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