Hey, remember the CST-01, the Kickstarter-funded ultra-thin watch cuff that failed as a business proposition and as a real-world invention? The watch was funded in February 2013, but assembled and working watches never materialized. After announcing plans to liquidate and then going silent for 11 months, the project posted one more update for its backers: insolvency documents that the company filed with the state of Illinois. [More]
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Central Standard Timing Re-Emerges, Plans To Liquidate Or Give Everything Away
By 6.15.15
You may remember Central Standard Timing, the company that raised more than $1 million on Kickstarter to produce neat e-ink watches that look like slap bracelets with digital displays. The team behind the product said that they had simply run out of money to produce the watches, and all they have left are piles of components, technical specifications for assembling the watches, and an amazing plan that didn’t quite work out. [More]
Watch Company Collects $1 Million On Kickstarter, Spends It All, Then Hides
By 5.22.15
Kickstarter is not, and never has been, a store. Yet companies that use the platform to fund the production of a new product are eventually supposed to, um, make that product. Backers who contributed more than a million dollars to produce thin e-ink watches want answers from the company that promised these watches, and they aren’t satisfied with “we’re broke” as an answer. [More]
