Here is why Kickstarter is beating Indiegogo.
In the battle for the top of the crowdfunding food chain, Kickstarter is handily beating Indiegogo in virtually every measurable category. In an article posted on Medium, Jonathan Lau and Edward Junprung performed a comparative data scrape and analysis of the two companies that lead to six eye opening insights:
- “Cumulatively, Kickstarter (KS) has over 110,000 campaigns while our scrape found 44,000 campaigns on Indiegogo (IGG). However, through multiple scrapes over a month, we discovered that IGG de-list failed campaigns that raised less than $500
- KS ($612M) has successfully raised over 6 times more dollars than IGG ($98M)
- KS has had 40 projects raise $1M+ while IGG only has had 3
- The average success rate on KS is 44%. Based on the total number of campaigns we found in our scrape, we calculate IGG’s success rate to be 34%. However, if we factor in the de-listed failed campaigns, IGG’s success rate drops significantly
- At the time of the scrape, KS and IGG had near the same unsuccessful dollars (KS $83M vs IGG $70M) despite KS raising over 6 times more money
- 40% of dollars that IGG raised were generated from campaigns that raised more than $100,000”
When the two crowdfunding platforms are compared the reasons for the dominance of one becomes clear. Kickstarter has guidelines for their projects, Indiegogo does not. “Everything on Kickstarter must be a project” and “every project on Kickstarter must fit into one of our [creative] categories.” Indiegogo is “available to anyone, anywhere, to raise money for anything.” In addition, Kickstarter has all or nothing fundraising stakes while Indiegogo creators can keep the money raised even if they don’t reach their fundraising goal.
Kickstarter projects have guidelines that foster creativity and all or nothing stakes that force creators to set realistic goals and work hard to achieve them. Indiegogo let’s anyone do anything. In the end, quality trumps quantity and Kickstarter trumps Indiegogo.