$765 Million pledged to 47,718 successfully funded crowdfunding projects on Kickstarter.
Kickstarter was not the first platform made available to entrepreneurs, however it became the largest crowdfunding platform by the total amount of dollars pledged. One of the questions our clients considering raising funds through a crowdfunding campaign typically ask us: “which platform is better Kickstarter or Indiegogo”. Our answer starts with “It depends, there are many other platforms out there, Kickstarter and Indiegogo being the largest.”. And then we would like to learn about your goals so that we could recommend the best platform and strategy to achieve those goals. In addition to that, we wanted to share some thoughts on Kickstarter and Indiegogo from size and success rate perspectives. We posted the numbers from Kickstarter, as they are easy to find due to transparency that Kickstarter provides. The numbers for IndieGoGo were not easy to find to compare. Thanks to the work done by Jonathan Lau and Edward Jungprung, we learned that highly regarded leader in volume of projects – IndieGoGo is actually 6X less in total pledged amount. In fact the success rate was 10% less than such rate on Kickstarter. Shocking results some of your might say. In theory crowdfunding is all about numbers, so if you would focus your platform on long tail, just like IndieGoGO has done, statistically you should win. In practice you will win the volume, which just to clarify, IndieGogo has the lead on Kickstarter. Kickstarter from the inception decided to focus on chunky middle, and actually was very successful in creating important toll gates of success in 21st century – scalable process and transparency. According to the work published by Jon and Ed below, this is a winning strategy for a crowdfunding platform, because if we would measure platform success by the amount of funds pledged and success rate, Kickstarter is a clear winner. You can find detailed story on methodology and results of comparing Kickstarter and IndieGogo platforms here: