More Crowdfunding Trouble? Layoffs At Indiegogo, CEO Exits

The CEO of crowdfunder Indiegogo is exiting "for personal reasons" amid multiple reports of layoffs at the company. Former Reddit exec Andy Yang will takeover as Indiegogo CEO today.

Both Indiegogo and Kickstarter have been criticized by users after some crowdfunding campaigns failed to deliver promised products. More recently, music focused crowdfunder PledgeMusic announced that it will file for administration, the UK equivalent of bankruptcy.

More than 275,000 campaigns have been funded on Indiegogo, with an average of 7000 campaigns active on the platform at any given time.