This is an analysis of all campaigns on Kickstarter and Indiegogo completed by August 7th, 2014. The data is prepared by HiveWire, a crowdfunding solutions company based in Toronto. Take a look at its methodology for how it collected this data.
You can check out all of our findings in the infographic below.
To better understand which crowdfunding campaigns and on which platform are successful, Shopify partnered with HiveWire to analyze over 400,000 completed Kickstarter and Indiegogo campaigns.
We present those findings here.
Here are some interesting points we’ve uncovered:
When it comes to raising money, women may be better off going to the crowd: 37% of successful campaigns are run by female founders, while only 5% of VC investments go to female founders.
Though nearly 10% of all funds pledged on Kickstarter and Indiegogo come from New York City, San Francisco punches way above its weight, raising nearly 600% more per capita NYC.
Successful campaigns have videos with an average length of 3-minutes-and-4-seconds, offer 9 levels of rewards, and last for 35 days.
Campaigns on Kickstarter that ask for less than $1,000 have an very high success rate of of 61%.
As might be expected given Kickstarter’s stricter curation process, much fewer of Indiegogo’s campaigns reach their funding goal. 9.8% of Indiegogo campaigns reach that goal, compared to 43.4% of Kickstarter campaigns. Note also that Indiegogo allows both flexible and fixed funding goals, and in an apples-to-apples comparison of keep-it-all campaigns, Indiegogo’s success rate is slightly higher at 17.1%.