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Indiegogo Launches a Crowdsourcing Business For Big Businesses (computerworld.com)

Posted by samzenpus on from the helping-the-big-guy dept.

Lucas123 writes: Indiegogo announced at CES today that is now has a crowdfunding site exclusively for big businesses, which often have hundreds of internal R&D projects or ideas that never see the light of day and could benefit from getting public exposure online. Companies such as Google, Anheuser-Busch, GE and Hasbro have already run crowdsourcing campaigns on a pilot of the new site in order to raise money for projects, garner customer ideas, or validate pre-retail products. In July, GE ran a campaign to prove market demand for a countertop nugget ice-making machine for the home. GE offered the Opal icemaker for $399 to early buyers on Indiegogo, with a future retail price of $499. GE's Opal icemaker project raised $2.64 million total from 6,177 contributions by the end of the 30-day Indiegogo campaign. The campaign also garnered 510,000 page views and 15,000 Facebook shares. Natarajan Venkatakrishnan, head of R&D for GE Appliances, said crowdsourcing allows development and marketing to be conducted at a fraction of the cost of a traditional R&D project. "If it flops, no worries. Upfront costs were some 20 times less than a traditional product rollout, which can cost tens of millions of dollars," Venkatakrishnan said. "If we're going to fail, we want to fail fast."

3 of 23 comments (clear)

  1. No. Fucking. Way. by BitZtream · · Score: 3, Insightful

    If you participate in this, you're a fucking moron.

    We're not only going to be ripped off by companies, but we're going to pay for them to do all the research and development up front ... and you think what, the price will be lower? They'll be more altruistic? Something will magically be better?

    This is fucking stupid, and I can't say the word fucking enough her to get the point across.

    You do not crowd fund a fucking company, thats the companies job. They aren't going to crowd fund your ass when you get laid off or fired, why the fuck would you give them a bone?

    --
    Persistent Volume manager for Kubernetes - https://github.com/dwimsey/openshift-pvmanager
    1. Re:No. Fucking. Way. by Ol+Olsoc · · Score: 3, Insightful

      If you participate in this, you're a fucking moron.

      The whole thing reads like some pecuniary extraction end game scenario, where millionaires and billionaires take to begging for the last pennies of the kids working for minimum wage at the local fast food joint.

      --
      The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  2. Seriously? by Anonymous Coward · · Score: 2, Insightful

    This is redundant. We have a "Crowdsourcing Business For Big Businesses" service already. It's called the "stock market".