We did it – we launched our online fundraising campaign on indiegogo for the Yarn Graffiti Documentary. Here goes nothing. It’s been online for 24 hours and we’ve already raised $1,110! It’s crazy.
The second I published it, I felt a little remorse because I know I could have tightened the edit on the video, and I started to think that maybe $15,000 is too much to ask for in only 110 days. What’s done is done. This whole thing is very nerve racking. I keep looking at the Indiegogo account and refreshing the page to see if anyone else has donated and every time someone new has donated, I’m hit with this wave of amazement like, “wow, I can’t believe someone just gave us $20!” I’ve been getting really emotional and sentimental and it’s only been a day. I can’t imagine how the rest of the next 3 and half months are going to go. I think I need to pace myself.
If you don’t know, online fundraisers like Indiegogo are all about allowing anybody to raise money for any idea. The sites structure allows users to create a page for their funding campaign, set up an account with PayPal, make a list of “perks” for different levels of donation, then create a social media-based publicity effort. Users publicize the projects themselves through Facebook, Twitter and similar platforms. The site levies a 4% fee for successful campaigns, and 9% for campaigns that fail to reach their target amount. Unlike similar sites such as Kickstarter, Indiegogo disburses the funds immediately. According to the Wall Street Journal, 10% of Indiegogo projects raise their requested amount, while 40% of projects raise at least $500. Indiegogo is also used by already-funded projects to create publicity or find distributors.