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Study: Kickstarter Beats Indiegogo for Successful Funding

A recent study by two freelancers compared the two sites.
Kickstarter co-founders Perry Chen, Yancey Strickler, and Charles Adler attend the 2012 Made in NY awards.
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In the crowdfunding world, it appears Kickstarter is king-- at least according to a recent study. Two freelancers compiled crowdfunding data from the two sites and found that Kickstarter had nearly six times as much funding as Indiegogo.
 
The researchers, Jonathan Lau and Edward Junprung, used Kickstarter’s public data and scraped Indiegogo’s website for data to compare the success of the two different platforms. Lau and Junprung included their methodology in their findings:
We built a bot that scraped IGG’s projects section, which supposedly contains all campaigns ever launched. On August 17th when we ran our bot, Indiegogo had about 4900 pages of campaigns. The bot navigated through each page and grabbed the campaign page URL, amount raised, percentage of goal raised, category and time remaining on the campaign. We then threw the numbers into Excel and replicated Kickstarter’s stats table using IGG’s numbers. 
Lau and Junprung found that Kickstarter has raised $612 million for successful campaigns and Indiegogo had apparently raised only $98 million. Kickstarter and Indiegogo are reported to have raised comparable amounts for unsuccessful projects--$83 million and $70 million, respectively. The study found that Kickstarter has an average success rate of 44 percent, with Indiegogo’s success rate coming in around 34 percent.
 
Additionally, it appears that Kickstarter has had over twice as many campaigns than Indiegogo.
 
But could these numbers be right?
 
One issue: Indiegogo delists campaigns that raise less than $500, whereas Kickstarter does not. Not to mention, Indiegogo claims these numbers are just plain wrong. An Indiegogo spokesperson told Venture Beat that "each alleged Indiegogo statistic in the post that you refer to is inaccurate." But when asked to provide corrections and other data, the spokesperson said it was against the company's policy
 
A quick search of Kickstarter found that the Kickstarter campaign with the greatest funding to date has been the Pebble watch with $10,266,845 pledged. Indiegogo’s campaign with the greatest funding to date was the Ubuntu Edge with $12,814,196, which was unsuccessful--though Indiegogo allows projects that don’t meet their funding goals to keep their pledged funding for a higher fee. 
 
An email to Indiegogo's press office was not returned before press time. 
 
 
IMAGE: Taylor Hill/FilmMagic/Getty
Last updated: Aug 30, 2013

ABIGAIL TRACY

Abigail Tracy is a staff reporter for Inc. magazine. Previously, she worked for Seattle Metropolitan magazine and Chicago magazine.




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