Earlier this week, the company behind the hottest semi-failed Kickstarter campaign of 2014, the Coolest, announced that it has settled with the attorney general in its home state of Oregon. Now the details of that settlement are out, and we’ve learned that the worst-case scenario is that backers will each receive $20 if the company fails to deliver. [More]
crowdfunding
3 Things You Should Know About Crowdfunding Medical Bills
By 6.13.17
With the Affordable Care Act in limbo, and the details of the Republican repeal-and-replace plans still not fully known, a growing number of Americans are turning to crowdfunding platforms like GoFundMe or YouCaring to raise money to cover their medical bills. [More]
After Raising $3M On Kickstarter, ‘Gravity’ Blanket Stops Claiming To Treat Anxiety
By 5.12.17
Would you like to sleep better and feel happier and less anxious? Who wouldn’t? That’s still the sales pitch for Gravity, a weighted blanket available on Kickstarter that has collected $3 million in pledges. However, after the science behind its boasts was challenged, the Gravity blanket no longer claims that it can treat anxiety, depression, and insomnia. [More]
Clearly Canadian Promises Remaining Preorders Will Ship… Eventually
By 4.5.17 — Updated: 5.10.17
Two years after fans of Clearly Canadian helped crowdfund an effort to bring the beverage back from the dead, and more than a year after the company finally started shipping out preorders to those who backed it, some customers say their orders still aren’t complete. [More]
The Hottest Kitchen Gadget Of 2014 Is Finally Shipping To Pre-Order Customers, Maybe
By 4.5.17
It was almost three years ago that the company behind the Mellow smartphone-enabled sous vide cooker began taking pre-orders for the kitchen gadget, which promised to do amazing things like keep food in ice water all day, starting to cook it when you activate the device from a smartphone app. Almost three years later, though, customers don’t have their cookers. [More]
Prepare For Onslaught Of Facebook Friends Begging For Donations
By 3.30.17 — Updated: 5.9.17
If Facebook wants anything, it’s to keep you on the Facebook site for as long as possible. That’s why perhaps it’s not surprising that given the popularity of personal online fundraisers, Facebook is now entering that business, letting people raise money for medical expenses, funerals, education, or any other cause. [More]
Your Pebble’s Warranty Is Void Now, Even If It’s New
By 12.8.16
The way that smart watch company Pebble is going out of business isn’t what we’re used to seeing: instead of officially filing for bankruptcy first or being fully acquired by another firm, Pebble sold only its software assets to Fitbit. The end of Pebble as a company means that the warranties on its devices are now done, too: even new devices that you might have just purchased. [More]
Oregon Department Of Justice Announces Investigation Of Coolest
By 9.30.16
Back in 2014, the Coolest was a Kickstarter hit that drew even more backers as it appeared on national TV. It crushed records as well as crushing ice in its built-in blender. Yet over two years later, all of the original backers still don’t have their coolers, even as the Coolest is available in brick-and-mortar retail stores and on Amazon. Now the Oregon Department of Justice is investigating the company behind the Coolest, which is based in Portland. [More]
Best Buy Wants Fresh New Crowdfunded Products For Its Shelves
By 9.26.16
Best Buy has managed to survive, defying the expectations of experts and shoppers, by creating themed mini-stores and price-matching its online competition. Now the company has a new idea: teaming up with companies that make popular crowdfunded products to get them on the shelves of Best Buy. [More]
Helmet Company Collects $2.5 Million In Crowdfunding Funds, Doesn’t Ship Helmets, Goes Bankrupt
By 8.12.16
The Skully was meant to be the first augmented-reality motorcycle helmet, giving riders information from their GPS in a heads-up display, and even showing a feed from a rear-view camera in their field of vision. Sounds like an amazing product… that will never actually ship, even as excited backers on IndieGoGo put down amounts from $500 to $2,000 for deposits or pre-payment for their helmets. [More]
Clearly Canadian Promises Remaining Delayed Preorders Will Start Shipping Next Month
By 7.15.16 — Updated: 4.3.17
Back in 2015, fans of Clearly Canadian were excited to learn that the 1990s sparkling soft drink would be making a comeback. So excited, in fact, that a crowdfunding campaign by the brand’s new owners brought in tens of thousands of preorders. But more than a year after Clearly Canadian reached its funding goal, many customers still don’t have their drinks, and they’re not happy about it. [More]
Facebook Letting Individual Users Set Up Fundraising Pages For Nonprofits
By 7.1.16
People who want to raise money for the causes they care about have another crowdfunding option: Facebook announced it’s expanding its fundraising feature for nonprofits to individual users. [More]
Sense Smart Home Hub Project Canceled, Company Issues Refunds To Kickstarter Backers
By 6.9.16
A crowdfunded project has died a premature but dignified death. Is such a thing even possible? The company behind a successful Kickstarter campaign for a smart home hub decided not to make hardware, after learning that other device makers were interested in their software. The company, Silk Labs, announced that it would refund users’ pledges and not make the device. [More]
9 Things We Learned About How Few Americans Are Regularly Taking Part In The “Sharing Economy”
By 5.19.16
Though it might feel like you can turn a corner without seeing an ad for this ride-hailing app or that on-demand delivery service, Pew Research Center’s first-ever survey of how American adults interact with the new digital economy shows there’s a big difference between how many people have ever tried one of these services and the people who use them on a regular basis. [More]
PayPal Won’t Protect Your Payments To Crowdfunding Projects
By 5.9.16
If you’re using PayPal to help fund yet some friend’s hot sauce Kickstarter project, listen up. Starting next month, PayPal’s Purchase Protection won’t cover the transactions made on crowdfunding platforms. [More]
Coolest Offers Opportunity For Backers To Pay $97 And Jump The Line, Another Revolt Ensues
By 4.15.16
Back in 2014, the Coolest, a cooler with built-in speakers and a blender, crushed the record for the most-funded Kickstarter project along with lots of ice for frozen margaritas. The problem, though, was that the cooler’s creator charged early backers $165 for something that would eventually retail for $400, and running out of cash made some production snags even worse. Now they have a new proposal for backers: pay an extra $97 to jump the line and get their coolers next. [More]
Coolest Tells Kickstarter Backers That Coolers Are Further Delayed
By 2.29.16
The Coolest hit Kickstarter in 2014, raising over $13 million and promising backers “a party disguised as a cooler.” That party may be winding down or at least significantly delayed, as the project’s creator says that they’re looking for an investor to help keep cranking out coolers. [More]
Kickstarter Hires Investigative Reporter To Figure Out Where Mini-Drone Campaign Went Wrong
By 1.20.16
A company based in Wales showed up on Kickstarter with what looked like a working prototype of a really impressive consumer drone small enough to land on a saucer. Yet the promised drones never shipped. What happened? Kickstarter decided to find out, taking an unusual tactic: the company hired a local investigative reporter to, well, investigate. This week, the report came out. [More]
