Idea.me started out small, focused on Argentina and Chile. Today, however, Latin America’s leading crowdfunding platform has a very different reality. Having expanded into markets like Mexico, Uruguay, Brazil and the United States, the company has successfully facilitated the funding goals of 293 projects in just 22 months.
According to data gathered by Massolution, US$800,000 were raised through crowdfunding in Latin America in 2012. Of that amount, US$640,000 went through Idea.me, representing 70% of the regional market.
Earlier this year, Idea.me revealed that it had reached the million-dollar mark to finance 180 projects in 18 months.
The platform’s success is also reflected in user behavior. Of the 100,000 registered users in Latin America, 65,000 belong to Idea.me.
22 Months by the Numbers
-Since Idea.me’s launch, 3,700 projects have been registered.
-Of those, 2,000 were approved, and roughly 1,000 were published.
-Nearly half (45%) of the ideas become visible on the Idea.me platform, and of those, 29% achieve 100% of the financing needed through a system of collaboration and rewards.
A Key Change
Idea.me generated a noteworthy change in reward methodology. Under the Todo o Nada model (All or Nothing), if a project failed to raise the amount needed in its entirety, it received no funding at all.
But in December 2012, the startup introduced the Todo Suma model (Everything Countess). To date, 72 projects have raised money using this new modality. With both models in play, “everything is success, trying is success,” remarked Pía Giudice, Director of Projects and Communication at Idea.me.
Project creators provide Idea.me with constant feedback, and two months ago, the company launched a new section – Maximizar el éxito – to help them to take control of their success. The people behind the projects can now manage their entire campaigns from start to finish, spreading the word, sending ad hoc messages to collaborators and managing payments.
Get a full look at Idea.me’s 22-month trajectory in the infographic (in Spanish) below: