Michael Hughes (Indiegogo) Crowdfunding 2.0: The New Go-To-Market

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© Copyright Indiegogo. All rights reserved. Confidential & proprietary. Crowdfunding 2.0: The New Go-To- Market Michael Hughes Director - Hardware, Design & Technology

Transcript of Michael Hughes (Indiegogo) Crowdfunding 2.0: The New Go-To-Market

© Copyright Indiegogo. All rights reserved. Confidential & proprietary.

Crowdfunding 2.0: The New Go-To-Market

Michael Hughes Director - Hardware, Design & Technology

© Copyright Indiegogo. All rights reserved. Confidential & proprietary.

© Copyright Indiegogo. All rights reserved. Confidential & proprietary.

Crowdfunding grows up:

Wearables Case Studies Early Days

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Validate Demand & Attract Further Investment

Campaign launched in 2012

Brain sensing headband?! = Couldn’t raise VC money

Innovative product – but high risk

Technology/ Toronto, CA

Muse

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Only after they proved demand and mitigated investor risk did they secure $6M in Series A funding

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© Copyright Indiegogo. All rights reserved. Confidential & proprietary.

• Campaign launched in 2013

• Unconfirmed questions at launch

• Do people even want an activity tracker?

• If so, how would they want to use it?

Misfit Shine

Learn From Your Early Backers & Iterate

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$846,6757,957 funders from 85 countries

…30% wanted a bracelet or a necklace…30% of backers were from overseas

…people willing to pay more for black color

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Misfit was acquired by Fossil Group in Nov. 2015

…for $260M!

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As Crowdfunding grows up, so do it’s Campaigners.

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Success is not ONLY defined by Money.

It’s defined by EVERYTHING

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• Validate your idea

• Gain awareness

• Connect with customers

• Create evangelists

• Raise money

It’s About the Crowd, Not just the Funding

Raised $12,271,426 Goal - $75,000

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Most Hardware Crowdfunding Campaigns Fail. Why?

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1. The big Misperception around Crowdfunding

2. Researching Crowdfunding is hard

The New Wearable Campaigner

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• Listed on ASX (Australian Stock Exchange) before campaign launch

• Build community & brand awareness

• Hit goal in <1 hour…raised ~$700K w/3 days left

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• Pre-campaign video viewed 11M+ times on Facebook

• Raised $1M+…

in ~3 hours!

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• Launching this Summer

• Working w/Ammunition, product design firm behind Beats headphones

• CEO was Senior Product Manager for Amazon Echo Dot, Kindle

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@mhhughes8

[email protected]

Questions?