Revealing what he expects in the future of crowdfunding, co-founder and CEO of Indiegogo Slava Rubin stated that he believes a single project using the funding method will generate more than $1 billion by end of this decade.
During his recent interview with TrustedReviews, Rubin stated that crowdfunding services and project will continue to grow in popularity until the first publicly funded project has raised $1 billion in 2020:
“I don’t think there is ever going to be an upper cap on what you can fund, it just takes time for that upper cap to evolve. I think we are like Moore’s Law in reverse. With Indiegogo, every 24 months you can basically add a new zero to what the upper cap is. If you look backwards that’s essentially what’s happening.
“There is a big different between $10 million and $100 million. The upper limit was about $10 million to say December 31, 2014. By December 31, 2016, you’ll be seeing the first campaign to hit $100 million. I wouldn’t be surprised if by the end of the decade there is a $1 billion campaign.”
Also sharing that the crowdfunding platform’s goals have evolved since its debut in 2008, Rubin shared:
“When we had our first $1 million campaign we had a big song and dance for about a week. Now we have Flow Hive hitting $1 million in 2 hours and people are like ‘whatever’ and keep working on their email.
“Eventually it will be $1 billion and we will get excited about that.”
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