Bottom line: Indiegogo is doing more to protect the community of backers that financially support the hopes and dreams of entrepreneurs and enthusiasts around the world. In announcing the changes, Will Haines, VP of product and customer trust for Indiegogo, said Indiegogo was founded as an open platform where anyone could raise money with little restriction. What he has learned over the years, however, is that open isn't what their community wants. Instead, it's trust.
As such, Indiegogo has been working to put trust at the forefront of everything it does.
It started with overhauling and expanding the trust and safety team earlier this year. Indiegogo has also created an internal review board to oversee some of the most important decisions related to trust and safety, and to handle the riskiest campaigns.
The platform is also developing a loyalty program that will highlight new campaigns from creators with a proven track record. What's more, the company said it recognizes that they can do a lot to ensure entrepreneurs only launch on Indiegogo when they have a viable plan to deliver. This level of oversight will start with the largest campaigns and eventually expand to all campaigns.
That's not all. Indiegogo is also partnering with GoFundMe to create the crowdfunding trust alliance, which will share industry trends and best practices that'll benefit both platforms.
Haines acknowledged that Indiegogo can't guarantee every campaign will fulfill successfully, but they can do more to protect backers from unfeasible projects and flat-out scams. These steps should go a long way to making the risk worth it for backers.
Image credit Patrick Tomasso