Readers ask: How Does Indie Gogo Work?

How does Indiegogo work for backers?

Our platform gives you freedom and flexibility to customize your campaign as you want: You get to decide on your fundraising target, create perks to reward backers, and set a campaign deadline (up to 60 days). You decide when to make your campaign live – no approvals necessary.

What happens if an Indiegogo project fails?

If your campaign does not meet its goal by its deadline, all your backers will be refunded by Indiegogo within 5-7 business days. Choose fixed funding only if your campaign objective requires a minimum amount of money to be accomplished, and if you cannot fulfill your perks without raising the full goal amount.

Is Indiegogo a con?

Indiegogo seems to be a platform for con artists and scammers. Does not appear if there are any due diligence done by Indiegogo to confirm the legitimacy of any campaigns. At minimum you would have expected them to confirm the campaigners identities, website, location etc. but none is done.

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What percentage of fees does Indiegogo take?

Indiegogo charges a five percent (5%) platform fee on all funds raised for your campaign. Fees are calculated and deducted from the funds you actually raise (not the goal you set). Our payment processor also charges a processing fee that varies according to your location and currency.

How long does Indiegogo take to pay you?

Indiegogo will send a disbursement to your bank account within 15 business days after your campaign ends, provided your bank account information is correct and accurate.

Which is better Indiegogo or GoFundMe?

Depending on how much money you’re looking to raise – and how confident you are in marketing your campaign – GoFundMe is a perfectly adequate option for fundraising your campaign. Indiegogo is a good option if your project doesn’t fall into the specific categories that other crowdfunding sites cater to.

How often do Indiegogo projects fail?

Indiegogo declined to share figures on how often campaigns fail to deliver products. But a 2015 analysis of Kickstarter data found that 9 percent of that platform’s crowdfunding projects failed to deliver rewards, and only 65 percent of backers said their rewards were delivered on time.

Can you back out of Indiegogo?

For InDemand campaigns, backers may request a refund from Indiegogo up to ten (10) days after the contribution was made unless the perk(s) has been “Locked” or “Shipped” by the campaign owner. Indiegogo reserves the right to terminate user accounts and remove campaigns for any abuse of this Refund Policy.

What are the disadvantages of crowdfunding?

Disadvantages

  • You may spend time applying to the plaftorms and not result in any finance being raised.
  • Dependent on interest in the business or idea, hence much activity to create interest, may be required before asking for this source of finance.
  • Failed projects could harm your reputation.
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Is Indiegogo a legitimate site?

Indiegogo Overview Indiegogo is a crowdfunding platform for creative, tech, and community projects. The company was launched in 2008 at the Sundance Film Festival as a funding vehicle for independent films. Indiegogo broadened its scope shortly thereafter and is now one of the leading crowdfunding sites worldwide.

Is Indiegogo safe to use?

With crowdfunding, there are always risks, so Indiegogo does not guarantee that contributions will be used as promised, that campaign owners will deliver perks, or that campaigns will achieve their goals. However, if our Terms of Use are violated, we will take action on behalf of our backers to make things right.

Do I have to pay taxes on Indiegogo?

Project transactions that were generated outside of Kickstarter or Indiegogo won’t be reported on the 1099-K that you receive from them, but you’ll still have to pay taxes on those funds. Some of the money included in the form may be tax-deductible.

Does Indiegogo charge immediately?

Please note: Your credit card will be charged the contribution amount immediately if your transaction was successful, not at the end of the campaign.

How do you qualify for Indiegogo?

You are 18 years of age or older. You are a legal resident or have a business entity registered in one of the above listed eligible countries. You are creating campaign in your own name, or on behalf of a registered legal entity with which you are affiliated.

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