Neil Young’s Pono Music Kickstarter campaign has bested one of the most popular crowdfunding campaigns of all time.
Pono knocked-out Veronica Mars with 5 days left in their funding project. Pono has now raised an astounding $5,756,176 from just under 17,000 backers. The Pono Music Player had original hoped to raise “only” $800,000. The Veronica Mars Project, put together by creator Rob Thomas, closed in April 2013 at $5,702,153 – becoming an iconic crowdfunding project as the entire global film industry took note of the incredible success. Over 90,000 individuals contributed to the film that was recently released on March 14th.
Pono now in third place, behind both the Pebble Smartwatch and Ouya Game Console, has entered an elite realm. Ouya raised $8.6 million on Kickstarter back in August of 2012 and Pebble raised over $10.2 million earlier that year.
Pono, a hi-fidelity personal music player that trumps the ubiquitous iPod / iPhone by providing higher quality digital music, is an excellent example of a product that is ready for production (not vaporware) looking for pretail sales to estimate demand and generate funds to complete the process. Pono not only benefitted by the star power associated with rock legend Neil Young, but was buttressed by a very professional and experienced team of managers to structure an effective campaign. Pono captured endorsements from just about every living rock star helping to earn broad media exposure to promote a future product to the masses.
Pono closes on Tuesday, April 15, 2014. Early Bird rewards are expected to ship in October 2014.
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