Over the years, crowdfunding has become a fundamental part of many startups and artists’ strategies. It’s not only a way to raise funds but also to make a product known before launching it. Indiegogo is one of the leading crowdfunding platforms in the world.
Slava Rubin, CEO and co-founder of the platform, was one of the key players on the second day of 4YFN, and was interviewed on the main stage of the event by Yossi Vardi, one of the most respected European entrepreneurs in the startup and tech world.
“It all started in 2006 when we, the current co-founders of the company, were having trouble getting money from different people,” said Slava. “By that time YouTube, eBay and the rest were already up and running but we thought we had a chance in the field of finance. So in 2008 we decided to launch Indiegogo.”
Since then, according to its founder, Indiegogo has become the leading crowdfunding platform worldwide: with a presence in over 150 countries and fundraising campaigns of all kind, including fundraising for personal causes — one of the latest initiatives taken up by the American company.
When asked about the oddest campaigns that have gone through the platform, Slava refused to point to specific examples but he did say that one of the defining characteristics differentiating Indiegogo from other platforms is their openness to all kinds of campaigns. “Unlike others, we are very open to all kinds of projects entering Indiegogo,” said Slava. “Anyone can set up their fundraising campaign in minutes and start getting money.”
Considering the situation, one wonders if the platform is not susceptible to fraud due to its lack of control mechanisms. However, according to Slava, such mechanisms do exist and function properly:
- They have created algorithms similar to those of PayPal’s security to monitor everything taking place on Indiegogo.
- There is an in-house team that monitors them.
- The users of Indiegogo, members of the crowdfunding group, contribute to controlling and strengthening the operations of the platform.
Given the platform’s lifespan, it seems reasonable to think about its future and where it will be in the coming years. Indiegogo considers its main objective to be “serving our users, one by one.” What’s more, Slava stressed on the importance of helping “entrepreneurs of all countries to change the world and turn it into an even more mobile and global platform.”
300,000 successfully funded projects have already paved the way for Indiegogo, and there will surely be many more to come.