Crowdfunding for Life Events, Medical Emergencies Is Now Free on Indiegogo
Isn’t it refreshing when a company does something that shows it has humanity? That there are people with hearts that beat and feel in boardrooms, and that profit doesn’t come before life, limbs and happiness?
Crowdfunding platform Indiegogo says it has no interest in making money on your personal tragedies. The San Francisco-based company announced today that it is launching Indiegogo Life, a site that will allow individuals to raise money for medical crises, memorials, emergencies and other life events without paying a fee to Indiegogo. Individuals will still have to pay payment processing fees, but will not have to pay a commission to Indiegogo.
Typically, Indiegogo charges successful crowdfunding campaigns a 4 percent commission fee. Campaigns that do not meet their stated goal reach their stated goal have to pay a 9 percent commission fee on the amount they did raise.
On rival crowdfunding platform Kickstarter, where campaigns have to reach their goal to collect any money, the commission fee is 5 percent. However, Kickstarter -- which is larger than Indiegogo by dollars raised -- does not allow campaigns intended to raise money for charity or personal causes.
Crowdfunding campaigns that are eligible for using the Indiegogo platform without paying a commission include those that are raising funds for medical needs, emergencies, celebrations, memorials, pets and animals, faith and religious initiatives, sports, volunteer efforts, education and school programs.
Here’s a look at the sorts of campaigns Indiegogo intends to benefit from this Indiegogo Life, free-fee initiative.