Indiegogo is often cast aside as the red-headed step-child of the crowdfunding family, while Kickstarter is lavished with praise and notoriety. But that's for good reason, according to two freelance developers.
Jonathan Lau and Edward Junprung compared the two services' statistics, and found that Kickstarter's 110,000-plus campaigns have successfully raised $612 million (£393 million) — six times more money than Indiegogo's reported 44,000 campaigns.
Lau and Junprung did not have access to Indiegogo's raw data, so they relied on their own scrape of the company's website, which revealed $98 million (£63 million) in successful campaigns.
In its defence, Indiegogo de-lists its failed campaigns, therefore skewing the final numbers. The Verge recently reported a total 142,301 Indiegogo campaigns — 9.3 per cent of which raised 100 per cent of their funding goal. Those numbers, the developers said, correspond with their data.
The men admitted they were shocked to find that what is widely considered the second best crowdfunding site has fallen so far behind its competition.
"It looks to us that Kickstarter has cornered the most lucrative part of the crowdfunding market, leaving competitors like Indiegogo to fight for the scraps in far poorer niches," Lau wrote in a blog entry. "With its openness, Indiegogo was supposed to take advantage of the lucrative long tail of crowdfunding, but that is turning out to be worth a lot less than expected as evidenced by the huge long tail of failed projects."
Though Canonical raised $12.8 million (£8.2 million) for its Ubuntu Edge smartphone using Indiegogo, it missed its $32 million (£20.5 million) goal. That campaign was not included in the report in hopes of getting a better estimate of the site's typical live dollar amount.
Indiegogo was not convinced. "It is completely false," a company spokeswoman said. "Every piece of data about Indiegogo is completely wrong." She did not comment on what, if anything, the site will do to make its funding statistics publicly available.
A Kickstarter spokesman declined to comment on the reports.
Lau and Junprung released their raw data online, too.
Image credit: Flickr (Crowdfunding For)