Crowdfunding has become a popular way for entrepreneurs, artists, and creators to raise money for their projects and ideas. Two of the biggest players in the crowdfunding industry are Kickstarter and Indiegogo. While they both offer similar services, they have some key differences that set them apart.
Many people wonder if Kickstarter owns Indiegogo, given that they are both major players in the crowdfunding industry. However, the answer is no – Kickstarter and Indiegogo are two separate companies that operate independently of each other. Understanding the differences between these two platforms can help creators decide which one is right for their needs.
So What’s the Difference?
While they are both crowdfunding sites, each has unique terms and conditions that make them different. Kickstarter is a fundraising platform focused on creative projects such as art, music, film, design, technology, games, and more. It follows an all-or-nothing approach where if you don’t reach your goal, you don’t get any of the money. The platform receives a higher amount of traffic compared to Indiegogo and features more campaigns for people to browse.
Indiegogo is similar to Kickstarter but provides flexible funding options where even if you don’t reach your goal, you still receive all the funds that were pledged towards it. Additionally, Indiegogo focuses on a wider array of projects such as personal causes and charities, and technology. A major pro for Indiegogo is that their systems offer a seamless transition per campaign phase and the platform provides in-house tools to increase the likelihood of a successful campaign. The InDemand feature comes in very handy as well during the post-campaign phase as it may serve as a good temporary landing page before you switch over to an e-commerce platform.
In Conclusion…
Both platforms have their advantages and disadvantages depending on the type of project you’re fundraising for. Ultimately, neither Kickstarter nor Indiegogo owns each other – they are two distinct crowdfunding platforms with unique features that cater to different types of projects. Both platforms are best for hardware, however if you’re developing something intangible such as software, Indiegogo is the better option. If you’re interested in learning more, Rainfactory has a dedicated blog post of a side-by-side comparison of Kickstarter and Indiegogo.
Crowdfunding may be the quickest way to turn your idea into a reality but your success is mainly dependent on your campaign strategy. Whether you choose Indiegogo or Kickstarter, Rainfactory will provide you with a crawl, walk, run approach to scaling your campaign while optimizing the entire funnel. With our years of experience, we thought it would be best to share our knowledge through a Crowdfunding Handbook that deep dives into what it takes to create a dramatically successful crowdfunding campaign for your Product.