Indiegogo’s CEO steps down amid layoffs

David Mandelbrot was named CEO of Indiegogo, a crowdfunding site, citing his "personal reason" in his farewell message, the LinkedIn post. According to sources familiar with the issue, the company fired some employees.

Andy Yang will start his next term as his next position, published yesterday, Mandelbrot said. Yang was most recently "Reddit's core product" and former CEO of 500px, an online platform and community for photographers. "Mandelbrot is delighted to have taken over Dave's chief executive and made it possible for the company to achieve its mission, as Yang said.

The post did not mention dismissal. Emails sent to Mandelbrot have not been returned. Indiegogo refused to comment.

Indiegogo's main competition is the well known crowdfunding platform Kickstarter. Both platforms suffered from disappointing consumers. Often projects are often delayed because they are shipped. A crowdfunding site has attempted to change its business model. Indiegogo said in April that Verge would launch several campaigns with "delivery badges guaranteed". You can get your backed up product or all your money back.

Indiegogo under Mandelbrot is also welcome. Large Enterprise Partners. General Electric and Lego launched the product using Indogogo and turned the platform into a marketing tool.

David Mandelbrot's LinkedIn post was posted yesterday May 21st. Andy Yang started as CEO today.

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