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These projects on Kickstarter or Indiegogo platforms quickly gets overfunded because of the huge amounts coming to the projects from shady sources. If you would

These projects on Kickstarter or Indiegogo platforms quickly gets overfunded because of the huge amounts coming to the projects from shady sources. If you would look at the backers of some of these projects, you will see a lot of big anonymous backings. I have even come across some agencies who will take money from the owners of these projects and put them back with multiple fake accounts to make it seem legit. This is why, even some of the hardware projects asks for a little money like 10,000$, when it is clear that hardware production involves high costs. After quickly getting overfunded, these companies takes advantage of PR and tech articles on popular blogs such as techcrunch, wired, and finally end up attracting a few good-natured tech enthusiasts who get deceived. Some of the projects on these platforms are extremely vague with no prototypes, but still are made to be successfully funded. It is great that finally they will be accountable.

reagency 11y ago
Wow, nice growth hack. I wonder when someone will start curatig stats to build risk profiles for kickstarter investments. I wish KS would go back to the days of "we have built something, but we need to do a production run of 10,000 to make the per unit cost low". Everything else is a scam
- eonw 11y ago
  krowdster.co curates stats about crowd funding. I think it is mainly aimed at people running campaigns, but i think you can get it to make predictions on any campaign if you give it the right inputs about the campaign.
Shivetya 11y ago
Sadly every time I have ended up at a project that uses Indiegogo it seemed to be projects whom kickstarter wouldn't touch. Are their rules that much different? The most well known one I found there was that solar roadways group.
- _delirium 11y ago
  Could be just what my Twitter most often links me, but I mostly run across really small-scale stuff on Indiegogo, legit but not suitable for Kickstarter because it's not a creative project. For example: someone raising $500 to pay for a trip to present at a conference. This sort of thing seems pretty harmless; either you kick the person $5 or you don't, and you don't expect anything in return either way.
  - caf 11y ago
    A friend of mine successfully funded their wristwatch design on Indiegogo ( http://eurekawatch.com/ http://eurekawatch.com/ ).
empressplay 11y ago
This is actually a standard crowdfunding technique even when it's not from "shady" sources -- you "seed" your campaign with your own money to make it look like it has traction, giving it social proof so other people fund it. Kickstarter knows people do this but they don't care because they still get their cut.

reagency 11y ago

Wow, nice growth hack. I wonder when someone will start curatig stats to build risk profiles for kickstarter investments. I wish KS would go back to the days of "we have built something, but we need to do a production run of 10,000 to make the per unit cost low". Everything else is a scam

eonw 11y ago
krowdster.co curates stats about crowd funding. I think it is mainly aimed at people running campaigns, but i think you can get it to make predictions on any campaign if you give it the right inputs about the campaign.

Shivetya 11y ago

Sadly every time I have ended up at a project that uses Indiegogo it seemed to be projects whom kickstarter wouldn't touch. Are their rules that much different? The most well known one I found there was that solar roadways group.

_delirium 11y ago
Could be just what my Twitter most often links me, but I mostly run across really small-scale stuff on Indiegogo, legit but not suitable for Kickstarter because it's not a creative project. For example: someone raising $500 to pay for a trip to present at a conference. This sort of thing seems pretty harmless; either you kick the person $5 or you don't, and you don't expect anything in return either way.
- caf 11y ago
  A friend of mine successfully funded their wristwatch design on Indiegogo ( http://eurekawatch.com/ http://eurekawatch.com/ ).

empressplay 11y ago

This is actually a standard crowdfunding technique even when it's not from "shady" sources -- you "seed" your campaign with your own money to make it look like it has traction, giving it social proof so other people fund it. Kickstarter knows people do this but they don't care because they still get their cut.