A graduate of the prestigious Wharton Business School of the University of Pennsylvania, Slava Rubin, and his two partners have started a venture that would remind many of the company Kickstarter. Indiegogo, was started by Rubin and his partners in 2008 and is currently headquartered in San Francisco. It is a well funded and well respected crowd funding site. It has been estimated that Indiegogo will double its profits next year which would be more billions of dollars. It has also proven to be a very viable investment to many as it has managed to raise $15 million under Rubin as CEO. In addition, Rubin has managed to make himself a very well-known and respected individual in his field. He has now managed to help the White House with different things including rules and regulations for equity crowd funding and a few other things. As I mentioned before, this site is similar to those like Kickstarter. However, one of the big differences and selling points for this site is that they disburse the funds immediately when the contributions are collected through user’s Paypal accounts. Whereas, users of Kickstarter do not have disbursed funds in immediate time. The company is very well spread out and some of its users have raised hundreds of thousands to start their own business.
What I really like about this idea is it followed other ideas that were being started and also were looked at as being successful, however, it changed it with the way they operated it. Like by using the Paypal accounts, their users are happier because the transactions move faster than other sites. And, when you have similar businesses like that, a difference like that can mean a big difference in who customers go to. It’s a really smart way to do it. It differentiates themself when they market themselves. Also, it follows the trend of technology and how most business is headed these days.
Good thoughts and comments. I agree that integrating new and unique aspects will Indiegogo grow quickly. It shows a sign of an entrepreneur-innovating. People will always have ideas. People will always want other people on board with their ideas. Indeigogo caters exactly to that desire.
I thought this was a really interesting post because it showed that you don’t necessarily have to have a unique idea that nobody has thought of before, you just have to differentiate yourself from the ideas that are already out there. This was a great example of that and should inspire other young entrepreneurs!
A very common example of an entrepreneur making a current idea better and more applicable. Simplicity in the workplace is great for people as a whole when considering a product. I believe that Indeigogo will cater towards many different people and be very successful due to its simplicity and applicability to people.