Crowdfunding lost its luster over the past few years as major campaigns failed to deliver on millions of dollars’ worth of promises. Indiegogo CEO David Mandelbrot recognizes backers’ disappointment, and so now, the company is planning to fundamentally alter the concept of crowdfunding and make it more like regular pre-sales.
Mandelbrot tells The Verge that Indiegogo is planning to experiment with a new payment method for crowdfunded campaigns called “guaranteed shipping.” This badge would signal to backers that they’re guaranteed to receive a specific product, and if they don’t, they’ll receive their money back. Creators’ raised funds will be withheld until the product ships, at least when the program launches at first. This will begin...
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