Peter Kafka

Recent Posts by Peter Kafka

More Funding for Crowdfunding: IndieGoGo Raises $1.5 Million

Another vote of confidence for start-ups that depend on crowdsourcing: IndieGoGo, which helps artists, entrepreneurs and others raise money for their projects via its online platform, has raised $1.5 million.

Metamorphic Ventures led the round, joined by Steve Schoettler, a Zynga vice president who was one of the gaming company’s founding members.

IndieGoGo’s model seems to be directly parallel to the one championed by Kickstarter, the very buzzy crowdfunding site that has raised about $10 million itself. But presumably there’s room for more than one of these funding sites — the Web is a very big place.

If you do want to compare and contrast: IndieGoGo, founded in 2008, says its users have “raised millions of dollars” for 40,000 campaigns. Earlier this summer, Kickstarter said its users had contributed $60 million to 10,000 successful projects over its three-year life.

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik