Liz Gannes

Recent Posts by Liz Gannes

A Big Venture Round for Crowdfunding: Indiegogo Raises $15M

Kickstarter may be the best-known brand in crowdfunding, but Indiegogo now has the biggest war chest. In a new round announced today, Indiegogo now has the backing of Insight Venture Partners and Khosla Ventures.

Along with previous investors, the firms provided $15 million in Series A funding for Indiegogo, adding to $1.5 million raised last year. (Kickstarter raised $10 million in 2011.)

Unlike Kickstarter, Indiegogo is open to all projects, is available worldwide, and allows users to keep funding even if they don’t meet their goals (with a 5 percent additional fee). The site had earlier focused on fundraising for film projects, but is now open to any creative, cause-related or entrepreneurial idea.

The platform hasn’t had any crazy breakout hits like the $10 million Pebble watch, but it recently helped raised $325,000 for a film project called “Angry Video Game Nerd,” which was a new record. Indiegogo says it distributes millions of dollars a month.

Though today Indiegogo backers receive thanks and perks from project creators, the company is considering allowing equity investments under the new U.S. JOBS Act.

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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