A question about Kickstarter

VivaChiba · Sep 6, 2012

It's an "all or nothing" site, in that if the producer fails to get 100% of the commited funds, he/she receives NONE.
My question is: what happens to the donated money if the producer doesn't get it?

AnywhereButHollywood · Sep 6, 2012

The money is withdrawn from the donors' accounts only if the goal is reached. So the money simply stays in the potential donor's checking account if the goal is not reached.

mlesemann · Sep 6, 2012

No money changes hands unless/until the goal is reached. So pledges are made, but the money isn't paid until that point.

VivaChiba · Sep 7, 2012

Right, thanks for clearing that up.
Someone told me that indiegogo takes a % of the raised cash, so I was a little sceptical, thinking that maybe Kickstarter kept it all (if not fully raised).

Have either of you used these services?

PaulGriffith · Sep 7, 2012

I've donated a lot through both, and as a backer I'm pleased.

Both take a percentage of raised funds. KS is 5% plus credit card fees which pushes your total closer to 90-92% of the gross. Not sure what IGG takes, but it's probably pretty close to the same.

NickClapper · Sep 7, 2012

IndieGoGo takes circa 10%. Of the $7,620 we raised, I received about $6,990 which I thought was surprisingly high.

PaulGriffith · Sep 7, 2012

NickClapper said:
IndieGoGo takes circa 10%. Of the $7,620 we raised, I received about $6,990 which I thought was surprisingly high.

Was that including card processing fees? If so, that's pretty on par with Kickstarter.

As consumers it always feels like a hit taking a large amount of money through a credit card because we aren't used to fees. I'd gladly give a 10% cut to KS or IGG for a solid portal that people trust, because if you're a no name you'd still be paying 5% through paypal and it seems a lot less trustworthy. Not to mention the people that browse Kickstarter looking for stuff. Not a huge percentage, but they exist.

WriterAndProducer · Oct 10, 2012

Hi guys! I am producing my first script that I wrote called "The Cornfield Massacre." It has gotten some attention here in the Philly area. Kenneth John (cocktail, XMEN, Friday the 13th) is doing the directing. Mark Borkowski(Boardwalk Empire, The cost of a soul) is going to be the killer. Anyway, we are going to be shooting a trailer in November, but I need to raise some funds to do so. If you could be so kind, can you take a look at my INDIEGOGO page and help me make this dream become a reality! Thank you so much.

http://www.indiegogo.com/projects/238347

Mario