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Indiegogo Funds

Discussion in 'Electronic Design' started by rickman, Jan 1, 2013.

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  1. rickman

    rickman Guest

    http://www.indiegogo.com is similar to kickstarter.com, but allows
    non-profits to participate. One thing I'm not clear on is just how much
    of the funds actually go to the non-profit, or even the for-profits.

    Their info on the web site says the "platform" fee (their cut) is 4% or
    9% depending on whether you meet your goal or not. There are also third
    party fees that depend on the credit card used or the PayPal cost. Then
    there are other fees if payment comes by other means. Non-profits pay
    25% less platform fees.

    However... on every campaign page, just below the "contribute" button,
    it says, "This campaign will receive all of the funds contributed by Wed
    02 Jan 11:59PM PT." with the corresponding date and time. What does
    this mean exactly? They get all the funds and then have to give back 7%
    for all the fees? What???

    Does anyone have experience with indiegogo? Anyone know why this is
    worked this way?

    I wrote to them asking about any contribution I make. I don't expect to
    hear back right away because of the holiday and may never hear from them.

    Rick
     
  2. miso

    miso Guest

    Use this kick starter:
     
  3. miso

    miso Guest

    The Forbes article was a good read. Here is a jaw dropping statistic:

    "On this note, I would like to mention the fact that Americans purchase
    $45 billion dollars worth of lottery tickets every year, with the
    average household spending $150 annually."

    I simply can't believe people spend money on something less likely to
    happen than getting hit by lightning.

    You would lose less money at a slot machine than the lottery, though
    both are about as boring.
     
  4. Tim Williams

    Tim Williams Guest

    A statement written by those who are just as boring as the numbers and
    dollarsigns they call their friends.

    The average ticket buyer may not be sufficiently introspective to offer a
    correct opinion, but there are intelligent ticket buyers out there, and
    they fully acknowledge that 1. buying a ticket for its money is obviously
    a stupid idea, and 2. they do it for the entertainment value, the chance
    to participate, and the thought of an unlikely windfall.

    In fact, as entertainment goes, $150/yr is pretty damn cheap. More people
    should buy lotto tickets!

    Tim
     
  5. rickman

    rickman Guest

    Not all lottery tickets are for the Power Ball. I spend a fair amount
    of time in a place that sells lottery tickets and most of what they sell
    are the instant win scratch off tickets. You have a much higher chance
    of winning those and that is what hooks people. $5 here, $10 there and
    they feel like they have gotten something.

    As someone else said, they buy them for the entertainment value even if
    they don't know it.

    Rick
     
  6. Les Cargill

    Les Cargill Guest


    I bought them for a while because the state lottery was paying for
    my daughter's college education. Seemed like a pointless gesture of good
    faith.
    Most likely.
     
  7. Guest

    Agreed. This also explains the group ticket buys. I've done it a few
    times. It's worth the five bucks, or whatever, for the watercooler
    time.
    Sure. $1 or $10 isn't worth as much to them as $100,000,000.00, even
    if the chances of winning are ten times worse. "Dollar and a dream"
    says it all.
    Free time is, too.
    It's been an abysmal failure at fulfilling the promises that the
    various states have made, getting them passed. Everything else Obama
    tried has failed. It'll fit right in.
    Probably not much different than government use of email today.
     
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