Danae Ringelmann on Creating Indiegogo: “Finance Was Broken and Needed to be Put Back in the Hands of Others”

Offering up a bit of an insight into Indiegogo’s creation, co-founder Danae Ringelmann sat down with Real Business to discuss the creation of the global crowdfunding platform.

Indiegogo-founders-L-R-Slava-Rubin-Danae-Ringelmann-Eric-SchellDanae revealed why she, Slava Rubin and Eric Schell developed Indiegogo:

“Finance was broken and needed to be put back in the hands of others. It was a total experiment, but it’s now become a pillar for the market – everyone else has followed. It’s the same with the video pitch and the notion of showcasing the team. The fundamental components of crowdfunding were conceived on my whiteboard in Berkley.”

Ringelmann also noted what she and the co-founders learned from Indiegogo’s launch:

Danae Ringelmann“We’ve now learned that in putting power back in the hands of people, great ideas come to life and in doing so a tonne of risk has been removed form the financial equation. Luck shouldn’t be part of the financial journey. Entrepreneurial success should be a product of a great idea, grit and an audience that wants it.

 

“For me, the seminal moments were just examples of people using the platform who really showed why we existed. We just wanted people to be able to fund what mattered to them, proving someone who never thought it world work wrong.”

In regards to any issues Indiegogo has faced, Danae added:

indiegogo“What has kept me up at night, the one main thing, has been to remove the gatekeeping process. That’s what made it inefficient and unfair and what has differentiated us as others have come along and cherry-picked campaigns. We are here to let all ideas thrive, global or local, run by men or run by women.”

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