Tagged: failure

November 11, 2022 @ 10:09 am By JD Alois  |  

In an action that should come as no surprise, FTX (International), along with its affiliated firms, including FTX.us and Alamada Research, has filed for bankruptcy protection. The news was revealed via Twitter in FTX’s main account. What was once the 2nd largest crypto exchange in… Read More

June 3, 2019 @ 2:41 pm By JD Alois  |  

Peer to peer lender Lendy is no more. On May 24, the online lender went into administration. According to the Lendy website: The administrators are working closely with the FCA who consented to their appointment over the Companies. This website will be used to provide… Read More

January 21, 2019 @ 7:11 am By JD Alois  |  

Digital bank Revolut experienced an App failure yesterday that left some customers hanging, according to a thread on Twitter. The embarrassing fail comes a bit over a month after Revolut announced the company had received a long-anticipated banking license. Revolut took to Twitter to respond… Read More

December 14, 2018 @ 1:19 pm By JD Alois  |  

In a press release posted this week, Dooga Ltd., doing business as Cubits, announced it was seeking bankruptcy protection as the firm entered administration. The company said more information was available on their website which simply generated a 500 error. According to the company, Dooga… Read More

May 21, 2018 @ 2:17 pm By Samantha Hurst  |  

Just a little over two years after securing $2,708,472 from 10,263 backers through its Kickstarter campaign, tech startup OSSIC announced it was officially shutting down and will not be delivering its highly anticipated OSSIC X headphones. As previously reported, the OSSIC X headphones supposedly calibrate… Read More

August 15, 2017 @ 3:06 pm By JD Alois  |  

iFunding, a real estate crowdfunding platform, is insolvent according to several sources. In recent days, information has cropped up that investors have been left holding the remains of the company that included properties with an estimated value of $20 million. One individual estimated the number… Read More

June 23, 2017 @ 7:51 am By JD Alois  |  

Launched in 2013, Sindeo opened up offices in San Francisco “to revolutionize the way people plan, shop and secure a mortgage.” Founded by CEO Nick Stamos and Ori Zohar, Sindeo quickly raised funding to fuel sector growth for their online lending platform including a $5… Read More

April 26, 2017 @ 5:02 pm By JD Alois  |  

This is a cautionary tale not just for backers of ostensible promising hardware presales campaigns but for hardware creators with little to no experience on manufacturing and shipping hardware from Asia. GOKey, a rewards based project posted on Indiegogo in 2014, raised over $1.2 million… Read More

April 20, 2017 @ 5:25 pm By JD Alois  |  

Another credit card replacement company has died. Plastc, a company that raised more than $5 million in 2014 on a presales campaign, posted a backers update stating the company has exhausted all of its options to raise funding it needs to continue. Plastc said it… Read More

April 17, 2017 @ 8:00 am By JD Alois  |  

Nearly two years ago, GOKey launched a perk-based crowdfunding campaign on Indiegogo. The concept was fairly simple: a piece of hardware that you keep on your key-ring to replace all those different cables we constantly carry to charge and connect our smartphones. The targeted funding… Read More

March 20, 2017 @ 3:06 pm By Samantha Hurst  |  

Less than one year after securing $1,117,836 for its popSLATE2 smart second screen for iPhone on Indiegogo, California startup popSLATE announced that the project has officially been shut down indefinitely and no refunds would be issued. popSLATE2 is described as an intelligent combination of an ultra-thin protective shell that… Read More

February 26, 2017 @ 1:21 pm By JD Alois  |  

“Tiko 3D: Another crowdfunding fail, as backers money goes down the drain.” Tiko 3D is the second most-funded 3D printer on Kickstarter ever —the first being M3D who launched the Micro consumer 3D printer back in 2014.  M3D raised $3.4 million on Kickstarter from over 11,800… Read More

February 24, 2017 @ 4:41 pm By JD Alois  |  

Kickstarter Campaign for 3D Printer Collapses After Raising Nearly $3 Million This is a cautionary tale of rewards-based crowdfunding. As we reported earlier this week, Tiko 3D printer has been in limbo for some time. Most backers (16,538) had not received their printers and many… Read More

February 20, 2017 @ 3:47 pm By JD Alois  |  

There was a brief period in crowdfunding history where 3D Printers were quite the rage. Thousands of backers pumped millions of dollars into all sorts of iterations of the now ubiquitous 3D printers. Of course today the sector is intensely competitive. Just hop on over… Read More

April 8, 2016 @ 10:22 am By Samantha Hurst  |  

In response to Rebus being called the “biggest UK crowdfunding failure to date,” Crowdcube addressed the company’s failure on Friday. Back in February, Rebus, a company that raised over£816,790 on Crowdcube in 2015, announced that it was filing for bankruptcy.  According to data provided by Crowdcube, the company… Read More

March 7, 2016 @ 4:47 pm By Samantha Hurst  |  

Just two years after securing over $100,000 through Kickstarter, developer Bear Simulator creator John Farjay announced that he is quitting the project due to reported drama surround the video game’s development. According to its description, the Bear Simulator players are put into the game in FPB (yes,… Read More

February 8, 2016 @ 9:07 am By JD Alois  |  

Rebus, a company that raised over £816,790 on Crowdcube in 2015, has gone into administration making it one of the largest equity crowdfunding failures in the UK to date.  According to data provided by Crowdcube, the company sold a 6.63% stake in the firm to 109… Read More

January 21, 2016 @ 7:51 pm By Barry James  |  

A recent Juniper report suggested that the failure of the Zano campaign was a game-changer, signalling a move away from Kickstarter-style reward crowdfunding toward an equity (and mixed) model. Given the regulatory costs and other issues this is naive at best. Apart from the fact that… Read More

January 2, 2016 @ 11:53 am By Samantha Hurst  |  

  Back in Fall 2014, Finland-based, Jolla, launched an Indiegogo crowdfunding campaign to raise $380,000 for its new self-titled tablet. The unique tablet has been dubbed by the company as the world’s “first crowdsource tablet” to surface. Following the project’s success, Jolla returned to the global crowdfunding… Read More

November 21, 2015 @ 10:47 am By Samantha Hurst  |  

Last month, Scribblenauts and Run Roo Run developer, 5TH Cell, teamed up with new video game crowdfunding platform, Fig, to launch a new campaign for its new game, Anchors in the Drift. Anchors, is described as a Free to Play Action RPG with a unique twist that gives players the… Read More