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]
still not a store
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]
