Crowdfunding has enjoyed a great many successes since Indiegogo and Kickstarter launched. By the end of 2013, a cumulative $1.17 billion dollars had been raised, and that figure is projected to reach $4.35 billion by the end of 2015. Shopify has created an infographic ranking the differences between the two crowdfunding giants.
The numbers of total pledges alone is astounding — 20,713,669 pledges had been made up until August of 2014. The categories of campaigns, however, have wildly varying success rates.
Theater, dance, music and comics projects have a success rate of more than 40 percent. Small business campaigns had the lowest success rate; only 3.1 percent of 20,000 campaigns were successfully funded on Indiegogo.
Kickstarter dwarfs Indiegogo in many ways, attracting more traffic, more pledges and more dollars pledged. But Indiegogo does have some strengths — it has had 92,000 more successfully completed campaigns than Kickstarter. Still, when it comes to project success rate, Kickstarter has the edge — 43.4 percent vs 9.8 percent.
Interestingly, Indiegogo’s success rate is higher for fixed funding goals. However, more than 95 percent of campaigns on the site are flex funding, which means the project still receives funds, even if it was not the full amount that was desired.
To see which funding bands receive the most successful support, or to see the nine hallmarks of a successful campaign, view the infographic below: