Indiegogo is doing more to protect its sponsoring community

Bottom line: Indiegogo is doing more to protect the community of sponsors who financially support the hopes and dreams of entrepreneurs and enthusiasts around the world. Announcing the changes, Will Haynes, Indiegogo’s vice president of product and customer trust, said Indiegogo was founded as an open platform where anyone can raise money with few restrictions. However, over the years, he has learned that openness is not what their community wants. Instead, it is trust.

In this way, Indiegogo strives to put trust at the fore in everything it does.

it started with a major overhaul and expansion of the Trust and Security Group earlier this year. Indiegogo has also created an internal oversight board to oversee some of the most critical trust and security decisions and manage the most risky 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 there is a lot they can do to ensure that entrepreneurs only get started on Indiegogo when they have a viable plan to implement. This level of control will start with the largest campaigns and will eventually extend to all campaigns.

This is not all. Indiegogo is also partnering with GoFundMe to create a trusted crowdfunding alliance that will share industry trends and best practices that will benefit both platforms.

Haynes acknowledged that Indiegogo cannot guarantee that every campaign will be successful, but they can do more to protect sponsors from impossible projects and outright fraud. These steps must go a long way to justify the risk to sponsors.

Image Credit Patrick Tomasso

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