In big news for Australian crowdfunders, one of the world’s largest crowdfunding platforms – Indiegogo – now has a representative working on our shores! Tony Been is located in Sydney but responsible for the marketing and community management in Australia.
Indiegogo has always been popular with some Australian’s due to their global offerings and different crowdfunding models. While they, like Pozible and Kickstarter, offer what they call Fixed Funding (like the All or Nothing approach of those sites) they also offer Flexible Funding – a Keep All model. The Flexible Funding option allows the project creator to keep all money raised, whether or not the target was reached. There is a catch – Indiegogo retain 9 per cent with Flexible Funding versus 4 per cent with Fixed. Of course as usual the payment provider fees of around 2-3 per cent also need to be deducted.
I spoke to Liz Wald, Head of International from Indiegogo to find out more.
Crowdfund it: Welcome to the wild world of Australian crowdfunding). Why have Indiegogo decided to have a representative here?
Wald: Australia is a great market for us as there has always been strong adoption of internet models. There is loads of creativity and passion here – as evidenced by the success of Hustle Bag, the recently launched Spielgaben educational toy and the campaign to keep McDonald’s out of Tecoma – and with access to global markets via Indiegogo these campaigns have taken off.CFI: What other countries around the world do have Indiegogo offices or representatives?
Wald: Indiegogo is headquartered in San Francisco, CA and has an office in New York as well as Los Angeles. In addition to hiring Tony in Sydney, we have brought on a woman, Ayah Norris, in Toronto, to look after marketing and community management in Canada.
CFI: What attracts Australian to your platform? For instance have you noticed that most of them are choosing the Flexible Funding in order to feel secure that they will be able to raise some funds for their project?
Wald: Australians are attracted to the fact that Indiegogo is totally open – there’s no application to submit and we welcome creative, entrepreneurial and cause-related projects. They also like the option of flexible funding, which most projects choose since there’s little downside in doing so, and of course they love the access to big global markets such as the US, Canada and Europe.
CFI: Can you share with us your three favourite Aussie Indiegogo campaigns and why?
Wald: We love the husband and wife team at Hustle and their product is awesome. They were really great to work with because they reached out for our counsel and used many of the suggestions we give, based on years of data on what helps campaigns be successful
Who Gives A Crap – were another team we worked closely with throughout their campaign – they achieved great results by delivering a cheeky solution to the serious problem of sanitation in the developing world. Their campaign was funny, well thought out, executed brilliantly & is making a real difference to those that need it most.
Tecoma’s community driven campaign to send a message to McDonald’s headquarters has been a fast moving viral campaign that has exceeded expectations so far (more than 12 x their initial target with 2 weeks left to run). Empowering a community is crowdfunding at its core, so we’re really happy to see the results that they’ve achieved.
CFI: Indiegogo doesn’t publish success rates or stats on your sites – unlike Kickstarter for instance. Are you planning to be more open with the rates of success and money raised in the future?
Wald: What I can tell you is that we have about 7K or 8K campaigns live every week and that we distribute millions of dollars to campaign owners ever week as well. We’re thrilled to see the global growth of the platform.
CFI: What are the top three categories that achieve the most success on Indiegogo?
Wald: On any given week we’ll see something from cause, creative or entrepreneurial hit the top funding spot – it’s really hard to predict but always super interesting to see!
CFI: What do you think is the future of crowdfunding?
Wald: More projects, more people, more places – we want to see people everywhere fund what matters to them and bring dreams to life.
CFI: Thank you Liz!
You can contact Tony Been, the Australian representative for Indiegogo on firstname.lastname@example.org.
Author: Anna Maguire, August 2013