Name: Why Fortune 500 companies Have a Big Presence on Indiegogo .mov
Uploaded: 2016-01-12
Duration: 2 min 11 s

[ MUSIC ] Yeah, so typically, you think of Indiegogo, you think of smaller companies, new entrepreneurs, and that's been happening for the last several years, but actually, recently, you're seeing Fortune 500, Fortune 1000 companies, the big boys really looking to actually use Indiegogo for RND and market validation, so already we have Harman and GE and Hasbro Anheiser- Busch, all using Indiegogo. So we're proud to announce this week that we're launching our Enterprise crowdfunding offering. So now, all the top 1, 000 companies will be able to come to us and we can work with them to make sure they get the best possible experience using Indiegogo. Now, that, those are huge companies, but why would they want to use a crowdfunding platform? Like, can you give me an example of what one of the companies is doing? Sure, GE would be a great example. So people typically think about ice like dense, rectangular ice. And they thought, a lot of people are maybe interested more in a porous, spherical ice that you can chew on. They call it nugget ice. So they came up with a concept called the Opal Nugget Ice Maker, and they wanted to see, is this something that can get validated out on Indiegogo? There was politics and bureaucracy in- house, and obviously it moves a little slower, and they said, let's just test it on Indiegogo and see what happens. Then right away the appliance division was able to raise over two million dollars in any go go and this accelerator, their innovation. They're ready to go from a four year innovation cycle down to four months. And they will tell you that they will to lower the RND cost to 120 at the cost. Now you're gonna get these nugget ice makers coming out in to the world And they're gonna invest this into the actual refrigerator lines into the future. So in the future you're going to actually have chewable ice coming from your refrigerators. Chewable ice? Could you very quickly just walk me through the business model? How does this work for you? Yeah, so it's all gonna stay the same. Anybody can use Indigogo whether it's a theater project, a film, a hardware company And with the Enterprise folks, they need to think a little bit more, they have to make sure this fits within their pipeline, within their brand, how they wanna enter the market. So we help them with all of the actual planning, the strategy, the promotion, the execution. So as always, when you raise money on IndieGoGo, we get a small percentage. And with the enterprise clients we actually work them with a consulting fee up front as well. [ MUSIC ] [ BLANK_AUDIO ]