Due to problems and technical issues dealing with Kickstarter, we felt, even at this late moment in our ramp up to launch time, it was in our best interest to switch gears and launch our fundraising project on Indiegogo. Indiegogo is a similar crowd-sourced funding platform. They are almost as popular now as Kickstarter, and they are more startup business friendly. We are in the process of changing all our information to reflect this move, and believe me it’s no small task. Thankfully I have some great people helping me accomplish this who has been amazing helping me get us up to speed for our launch.
Indiegogo has the same type of “fixed” funding, where it’s “all or nothing”, meaning if we don’t reach our funding goal we get nothing and you contribute nothing. However, they offer an additional funding model that Kickstarter does not. Specifically, it’s called a “flexible” platform. While the “fixed” platform is a “all or nothing” this one allows the project creator to collect whatever they raise even if they don’t make their funding goal. The cost to do this type of platform is a bit higher with a higher commission to Indiegogo if we don’t make our goal, and the big question is what do we do with the money if we don’t make our funding goal. Well, we thought about it, and at first we were concerned that if we didn’t meet our funding goal we wouldn’t be able to do what we needed with the money and we wanted to make sure we could fulfill the rewards (perks) for backers. Well, the good news is two-fold. Because of the way we calculated the cost of the rewards vs. the contributions, and that fact that we already have the mold of our mascot manufactured we will be able to fulfill the rewards (perks) even with less than our funding goal. Also, even if we don’t make our funding goal, we still will be able to find ways to use whatever funds we receive to get us closer to clearing our first stage of the business.