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    Kickstarter Vs. Indiegogo - Where to Post your Crowdfunding Project

    Kickstarter Vs. Indiegogo - Where to Post your Crowdfunding Project
    By Brian Krassenstein


    One of the most asked questions from those considering launching a rewards based or donation based crowdfunding project is, "Should I Post My Project on Indiegogo or Kickstarter?" The two most utilized crowdfunding platforms on the Planet, have many similarities, but also an extraordinary number of differences.


    Up until a few years ago most people never heard of either crowdfunding platform. In fact, the term crowdfunding was rarely used. This all changed sometime at the end of 2010 when a few large projects started to get the media's attention. Now it seems that more and more entrepreneurs are turning to crowdfunding to give their ideas a shot in the arm, and take them to the next level. Although there are literally hundreds of crowdfunding platforms worldwide, there are two platforms which have gotten off to a sizable lead in terms of traffic, number of projects, and funds raised. Those two platforms are, as the title indicates, Indiegogo.com and Kickstarter.com. Here is a look at what each platform excels at, in hope that you will be able to make the decision on which, if either, to put to use.


    Kickstarter:


    - Is best for technology related hardware, gadgets, and physical inventions. Will not allow donation based projects.
    - Will only permit you to take home the funds raised if your project meet's it's goal. "All or nothing funding".
    - Has seen dozens of projects take in over $1 million, and has launch entire companies like Ouya, Pebble, and "Cards Against Humanity".
    - Has strict guidelines to adhere to, and all projects must be manually reviewed before being accepted. Projects must have a clear beginning and end, and not simply be a company looking to expand, or grow.
    - Only citizens of the U.S. and U.K. are permitted to post projects
    - Takes a flat 5% fee from all projects which are funded. Users must then pay Amazon's payment platform another 2-6%. Total fees: 7-11%.
    - Claims they will not enter the Equity crowdfunding market once legalized in the U.S.
    - Users claim that their customer support is lacking a bit.
    - Has more traffic, as well as funds raised for projects. Traffic of the two platforms per Alexa:





    Indiegogo:


    - Is best for movies, art, and donation based projects.
    - Projects can be set up so that you may take home any amount raised even if they fail to meet their stated goal, an option for "All or nothing" is also available.
    - Has seen several large projects, including those from celebrities.
    - All projects are immediately accepted and posted.
    - Individuals from around the world may post a project.
    - Charges a 7% fee on "All or nothing" campaigns which are fully funded, or 12% of incomplete funded campaigns. Both figures include the 3% credit card processing fee.
    - Has aspirations of adding an equity funding model once the SEC sets forth regulations under the JOBS Act signed last year.
    - Superior customer support.


    Both platforms have their positive and negative aspects to them. It's best to choose the one that you feel most comfortable dealing with. Even though these two platforms are far and away the leaders of the market, there are hundreds of other niche crowdfunding platforms out there that may suit both you and your project better.

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  3. #3
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    Thanks. Yes Kickstarter is certainly going to be expanding eventually outside the US and North America. The market is huge outside the US.

  4. #4
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    I've heard more people just browse Kickstarter than they do Indiegogo. Is that accurate?

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    Kickstarter has more traffic than Indiegogo by a pretty decent amount. You will likely get more window shoppers contributing to your project on Kickstarter than on Indiegogo. Both platforms though should be views as a listing service rather than a promotional device. Without your own following outside Kickstarter or Indiegogo, it's going to be very difficult to meet your funding goals, unless of course major media picks you up. Most successful projects had huge following before launching their crowdfunding projects. The platforms are not what made them successful, rather their huge following on Facebook, and twitter, and their fan bases made them successful.
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  6. #6
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    Thank you for the info. All of that makes a lot of sense.

  7. #7
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    Thanks! Very useful tips.
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  8. #8
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    its so great that indigogo will be Canadian soon

  9. #9
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    Thanks for the information

  10. #10
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    I wrote a piece on my blog a while ago about why I prefer Kickstarter to Indiegogo at the moment, though it may change in the future.

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