‘Forever funding’ now available on Indiegogo (updated)

17 Sep 2014

Crowdfunding site Indiegogo is now letting a start-up fund its idea until the end of time with its new ‘forever funding’ option to cater to different types of businesses.

The original idea that Indiegogo and other similar sites have offered gives start-ups the chance to raise a certain amount of money within a limited time period, but this might not prove a sound financial decision for companies who have overheads including maintenance costs.

According to Tech Crunch, a source within the crowdfunding website says this new model will give fundraisers the ability to continue on with their fundraising, even after their original target is met which Indiegogo who say this will help businesses, artists and activists to keep small operations afloat over a greater time-frame.

Indiegogo have not revealed the commission rates in their official release on the pilot programme but the first two projects to trial the forever funding option include a pair of tinted sunglasses known as Tens, and a minute tracking device known as TrackR Bravo.

Effectively, businesses can have an additional revenue stream coming directly from donations online rather than having to run individual campaigns each time while also allowing fundraisers to utilise data obtained through Indiegogo’s systems along with Google Analytics.

Updated 18 September:

This article has been updated to include the official Indiegogo release on the new pilot programme which does not reveal the rates of commission but has released the names of the two projects that will trial it.

Colm Gorey was a senior journalist with Silicon Republic