Interesting comparison on total funds raised:
Indiegogo campaigns were found to have raised far fewer successful dollars than [Kickstarter], with around $98 million total all-time, while Kickstarter had about six times that, or $612 million. Kickstarter has had 40 projects cross the $1 million threshold, with only 3 doing the same on Indiegogo, and Kickstarter’s average success rate is 44 percent, while Indiegogo’s is around 34 percent (which doesn’t take into account the many delisted projects that failed to raise at least $500. Including those delisted efforts, the previously reported 9.3 percent success rate on 142,301 total campaigns matches up nicely.
Much of the data was gathered by scraping the sites, so unsuccessful campaigns that are dropped from the site are not counted, but that shouldn’t make enough of a difference to change the apparent results.
“Indiegogo campaigns were found to have raised far fewer successful dollars than Indiegogo”
Wait what?
I read that sentence probably 5 times trying to parse it before I realized it must be a typo.
Good catch, Peter, thanks.
Yeah Kickstarter is the household name brand for crowd funding.
“But the very different nature of the two sites from a balance sheet perspective could lead to an ever-widening gap in the type of content we see from both, and the way potential backers view each as well.”
The conclusion of the article is off base. The balance sheet of each crowdfunding site has nothing to do with the types of projects you see on the respective sites. Kickstarter has tightened its control over what it will allow to be crowdfunded on the site over the past few years. Indiegogo is where you go when what you want to crowdfund doesn’t get approved by Kickstarter’s review process.
These numbers are the findings of Lau and Junprung and indiegogo says the numbers are completely false. But lets think they are true, what then?
Fist of all you should not compare KS(KICKSTARTER) and IGG(INDIEGOGO) by “all time total money”. KS has years of advantage over its young competitor. Why don’t you look “live dollars” to compare them from the money perspective? According to Lau and Junprung its $26M vs $22M. So IGG is slightly behind KS. Thinking that the last year IGG was way more behind, I can expect IGG will overthrown KS in the next year.
Secondly, when you compare the success rates you should remind that, contrary to KS, IGG accepts every projects, even when it is very obvious that failure is inevitable.
Thirdly and most importantly IGG will eventually overthrown KS because they has great advantages in this competition like being able to accept projects from THE ENTIRE WORLD. KS only able to accept projects from 3 countries. This limitation also limits the amount of backers. People are thinking “why I back on KS while they are not giving a chance to any project from my country?” Believe me a lot of people thinking that way and as the concept of crowdfunding continues to spread towards the rest of the world, the number will be counting. I am not even mentioning the fact that the campaign owners are also become very generous backers.
IGG has other advantages like flexible funding option, but I believe IGG will be the winner, only because it is world wide.