Indiegogo Overcame the Doubters by Trusting Its Users -- and Itself
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It’s not easy to bounce back after rejection -- especially after you’ve been turned down by 93 VCs in a row.
That’s what happened to Slava Rubin, the co-founder of Indiegogo, one of the world’s first online crowdfunding platforms. However, instead of letting nearly 100 rejections deter him and his team from pursuing their vision, they mustered self-belief and optimism to overcome the doubts.
Introducing the idea of a marketplace for funding, or as Rubin puts it, a “YouTube for money,” was no easy task during a time when the word “crowdfunding” wasn't mainstream. Yet by listening to feedback and trusting both their users and their product, the Indiegogo team pushed through the opposition and found success, learning many lessons along the way.
“Keep on trying, keep on iterating, keep on learning,” Rubin tells Entrepreneur. “Don’t get stuck, because being stuck is a decision in itself.”
Watch the interview above to learn more about Rubin and how he dealt with rejection, how he learned to trust his users and ultimately, how he and his company persevered.
Each week, the new pitch show Entrepreneur Elevator Pitch gives aspiring entrepreneurs one minute to prove that their product or business is the next million-dollar idea. You can watch the episodes on entrepreneur.com, listen to the pitches and support the ideas you think show promise through Indiegogo.