Indiegogo
Encyclopedia
IndieGoGo is a crowd funding
site founded by Slava Rubin, Danae Ringellmann and Eric Schell in 2008. Its headquarters are in San Francisco, California
. As of 2010, it has hosted over 12,500 funding campaigns in areas such as music, charity, small business and film.
. The site was officially launched at the Sundance Film Festival
in 2008. In July of 2010, MTV
New Media partnered with IndieGoGo to develop new content from the site's projects.
, Rubin said the site is “all about allowing anybody to raise money for any idea.” The site's structure allows users to create a page for their funding campaign, set up an account with PayPal
, make a list of "perks" for different levels of donation, 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, and 9% for campaigns that fail to reach their target amount. Unlike similar sites such as Kickstarter
, IndieGoGo disburses the funds immediately. According to The Wall Street Journal
, 10% of IndieGoGo projects raise their requested amount, while 40% of projects raise at least $500 (US). IndieGoGo is also used by already-funded projects to create publicity or find distributors.
Crowd funding
Crowd funding describes the collective cooperation, attention and trust by people who network and pool their money and other resources together, usually via the Internet, to support efforts initiated by other people or organizations...
site founded by Slava Rubin, Danae Ringellmann and Eric Schell in 2008. Its headquarters are in San Francisco, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
. As of 2010, it has hosted over 12,500 funding campaigns in areas such as music, charity, small business and film.
History
Following the death of his father from cancer, Rubin started the site after being frustrated by attempts to raise money for bone marrow cancer research. Rubin has said he was partly inspired by filmmaker and activist Robert GreenwaldRobert Greenwald
Robert Greenwald is an American film director, film producer, and political activist.-Early life:Greenwald was born and raised in New York City, the son of Ruth and Harold Greenwald. He attended the city's High School of Performing Arts...
. The site was officially launched at the Sundance Film Festival
Sundance Film Festival
The Sundance Film Festival is a film festival that takes place annually in Utah, in the United States. It is the largest independent cinema festival in the United States. Held in January in Park City, Salt Lake City, and Ogden, as well as at the Sundance Resort, the festival is a showcase for new...
in 2008. In July of 2010, MTV
MTV
MTV, formerly an initialism of Music Television, is an American network based in New York City that launched on August 1, 1981. The original purpose of the channel was to play music videos guided by on-air hosts known as VJs....
New Media partnered with IndieGoGo to develop new content from the site's projects.
Crowd funding
In an interview with Film ThreatFilm Threat
Film Threat is a former print magazine and, now, webzine which focuses primarily on independent film, although it also reviews DVDs of mainstream films and Hollywood movies in theaters. It first appeared as a photocopied zine in 1985, created by Wayne State University students Chris Gore and André...
, Rubin said the site is “all about allowing anybody to raise money for any idea.” The site's structure allows users to create a page for their funding campaign, set up an account with PayPal
PayPal
PayPal is an American-based global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders....
, make a list of "perks" for different levels of donation, then create a social media
Social media
The term Social Media refers to the use of web-based and mobile technologies to turn communication into an interactive dialogue. Andreas Kaplan and Michael Haenlein define social media as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0,...
-based publicity effort. Users publicize the projects themselves through Facebook
Facebook
Facebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. , Facebook has more than 800 million active users. Users must register before using the site, after which they may create a personal profile, add other users as...
Twitter
Twitter is an online social networking and microblogging service that enables its users to send and read text-based posts of up to 140 characters, informally known as "tweets".Twitter was created in March 2006 by Jack Dorsey and launched that July...
and similar platforms. The site levies a 4% fee for successful campaigns, and 9% for campaigns that fail to reach their target amount. Unlike similar sites such as Kickstarter
Kickstarter
Kickstarter is an online threshold pledge system for funding creative projects. Kickstarter has funded a diverse array of endeavors, ranging from indie film and music to journalism, solar energy technology and food-related projects.-Model:...
, IndieGoGo disburses the funds immediately. According to The Wall Street Journal
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the Journal....
, 10% of IndieGoGo projects raise their requested amount, while 40% of projects raise at least $500 (US). IndieGoGo is also used by already-funded projects to create publicity or find distributors.