Slava Rubin, the CEO and co-founder of Indiegogo, was at Catalyze today for an event answering questions for anybody who came. I attended the later half of it and caught some interesting insights.
Things to pay attention to/be conscious about when launching and campaigning your product:
Somebody also asked him about what to consider when starting a company. Slava said that one of his favorite parts about working at Indiegogo is the atmosphere that he is a part of. Apparently many people will visit their site and comment on how many smiles they see, because that is the environment they have fostered. When starting a company, Slava recommends that you establish your values for the company, hire for those values, and then empower your employees. If you don't want to hear their ideas, don't hire them. I liked this point a lot - it reminds me of my school (shout out to Olin College!) and how we require student candidates to attend a Candidates' Weekend, where Oliners can determine whether they are a good fit for our culture.
Another interesting point I learned is that apparently at Indiegogo it is more difficult for software startups to get funding than people pitching tangible products - this is why AngelList was created specifically for software crowdfunding.
Things to pay attention to/be conscious about when launching and campaigning your product:
- Video - engaging, explains your product and its purpose, thoughtful
- Perks - 3-8 discounts, exclusive, or limited edition options
- Updates - 60% pre-planned, 40% spontaneous. Updating regularly has statistically increased funding. Include one-day only or one-week only sales, or increase the cost a little at a time so that consumers feel that they need to buy it sooner to have a good deal.
- PR - vertical (focused on one particular type of industry), mainstream
- Influencers - Who are your bloggers, connections on social media, subscribers to an email list, etc. Who is getting your word out?
Somebody also asked him about what to consider when starting a company. Slava said that one of his favorite parts about working at Indiegogo is the atmosphere that he is a part of. Apparently many people will visit their site and comment on how many smiles they see, because that is the environment they have fostered. When starting a company, Slava recommends that you establish your values for the company, hire for those values, and then empower your employees. If you don't want to hear their ideas, don't hire them. I liked this point a lot - it reminds me of my school (shout out to Olin College!) and how we require student candidates to attend a Candidates' Weekend, where Oliners can determine whether they are a good fit for our culture.
Another interesting point I learned is that apparently at Indiegogo it is more difficult for software startups to get funding than people pitching tangible products - this is why AngelList was created specifically for software crowdfunding.