# 93 Rejections, One Revolution: How Indiegogo Changed Crowdfunding Forever

- Show: [How I Built This](https://hardwarepodcasts.com/podcast/how-i-built-this)
- Published: 2025-12-15
- Length: 1h 07m
- Page: https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-15-93-rejections-one-revolution-how-indiegogo-changed-crowdfunding-forever

## Summary

Indiegogo co-founders Danae Ringelmann and Slava Rubin recount the company's origin, from their initial focus on democratizing film funding to pivoting into a general crowdfunding platform after facing 93 investor rejections during the 2008 financial crisis. They discuss the strategic decision to remain open and uncensored, the internal conflicts between the three founders, and the eventual loss of market dominance to Kickstarter due to a focus on profitability over aggressive scaling. The episode highlights the personal motivations behind the platform, including Ringelmann’s experience with her father’s business failure and Rubin’s loss of his father to cancer, which shaped their belief in fairness and access to capital.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-15-93-rejections-one-revolution-how-indiegogo-changed-crowdfunding-forever#t=0) Introduction: Danae Ringelmann and Slava Rubin on Indiegogo
- [4:02](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-15-93-rejections-one-revolution-how-indiegogo-changed-crowdfunding-forever#t=242) Personal History: Grief, Loss, and Financial Insecurity
- [10:50](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-15-93-rejections-one-revolution-how-indiegogo-changed-crowdfunding-forever#t=650) The Spark: Hollywood Meets Wall Street and the Idea for Indiegogo
- [16:16](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-15-93-rejections-one-revolution-how-indiegogo-changed-crowdfunding-forever#t=976) Early Development: Berkeley, Eric Schell, and the First 10 Campaigns
- [27:10](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-15-93-rejections-one-revolution-how-indiegogo-changed-crowdfunding-forever#t=1630) The 2008 Crash: 93 Rejections and Bootstrapping
- [42:30](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-15-93-rejections-one-revolution-how-indiegogo-changed-crowdfunding-forever#t=2550) Pivot to General Crowdfunding and Explosive Growth
- [47:51](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-15-93-rejections-one-revolution-how-indiegogo-changed-crowdfunding-forever#t=2871) Scaling Up: Raising Capital, Hiring, and Founder Conflict
- [55:31](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-15-93-rejections-one-revolution-how-indiegogo-changed-crowdfunding-forever#t=3331) Legacy and Lessons: Why Indiegogo Didn't Win

## Topics

- [Starting a product company](https://hardwarepodcasts.com/topic/starting-a-company)
- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Crowdfunding & preorders](https://hardwarepodcasts.com/topic/crowdfunding)
- [Leadership, teams & culture](https://hardwarepodcasts.com/topic/leadership-and-culture)
- [Growth, exits & acquisitions](https://hardwarepodcasts.com/topic/growth-exits-and-acquisitions)

## Most relevant to

founders before launch, companies scaling up

## Mentioned

- Indiegogo (company)
- Kickstarter (company)
- GoFundMe (company)
- Patreon (company)
- Code.org (company)
- Ravensburger (company)
- Best Bees (company)
- U.S. Bank (company)
- JP Morgan (company)
- eBay (company)
- YouTube (company)
- MySpace (company)
- Sundance (other)

## Related episodes from other shows

- [085: Scaling Your Product Up After Crowdfunding](https://hardwarepodcasts.com/podcast/product-startup/2021-07-21-085-scaling-your-product-up-after-crowdfunding) (Product Startup)
- [Afterschool Podcast, Episode 19 - Craighton Berman, Founder of Manual (04/16)](https://hardwarepodcasts.com/podcast/core77-podcast/2014-04-16-afterschool-podcast-episode-19-craighton-berman-founder-of-manual-04-16) (Core77 Podcast)
- [#015 - How to benefit for your hardware project from the first major crowdfunding platform, with Sandy Diao of Indiegogo, USA](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-03-01-015-how-to-benefit-for-your-hardware-project-from-the-first-major-crowdfunding-p) (The Hardware Entrepreneur)
- [Kickstarter, Open Source RC & Modelsource - Facinorous Financial Foulness](https://hardwarepodcasts.com/podcast/the-amp-hour/2012-10-22-kickstarter-open-source-rc-modelsource-facinorous-financial-foulness) (The Amp Hour)
- [CES 2019 Special: Stas Gayshan, CIC-Boston](https://hardwarepodcasts.com/podcast/ee-times-current/2019-01-16-ces-2019-special-stas-gayshan-cic-boston) (EE Times Current)

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