Tagged: failure

P2P Lender Lendy Goes Bust

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

Revolut Experiences Embarrassing App Failure that Leaves Some Customers Hanging

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

Crumble & Fall: Cubits Crypto Exchange is No More as it Goes Into Administration and €29 million is Stolen

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

Kickstarter Success OSSIC Shuts Down; Leaves Backers With No Highly Anticipated OSSIC X Headphones

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

iFunding Insolvent, SEC Issues Subpoena as Investor Jazco Looks to Step In

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

Online Mortgage Lender Sindeo Shuts Down

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

GOKey: Details Revealed on Collapse of High Profile Indiegogo Hardware Campaign

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

Plastc Credit Card Replacement Tech Shuts Down, Considers Bankruptcy Filing

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

Crowdfunding Failure: GOKey Creator Looks at Bankruptcy after Raising $1.2 Million on Indiegogo

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

popSLATE2 Update: Project Shuts Down & No Refunds Will Be Issued

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

What Went Wrong: Creator of Micro 3D Printer Provides Perspective on Tiko 3D Failure

“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

The Rise & Fall of Tiko 3D Printer. Creator Puts Company “on Standby”

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

Over Promise & Under Deliver. Will Tiko 3D Printer Become the Next Zano – Like Kickstarter Failure?

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

Crowdcube Addresses Failure of Rebus. Explains 90% of Applying Firms are Denied from Raising Capital on Their Site

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

Developer of Kickstarter Alum “Bear Simulator” Walks Away From Project; Blames Drama & Criticism

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

Rebus Called Biggest UK Crowdfunding Failure to Date as Firm Files for Bankruptcy

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

Why Zano Is A Learning Point, Not a Game-Changer for #Crowdfunding

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

Indiegogo Alum Jolla Reveals: Not Every Backer Will Be Receiving Its Tablet

  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

Video Game Platform Fig’s Second Campaign Fails to Meet Funding Goal

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

Pirate3D Tells Supporters it Needs More Money as Most Backers Have Never Received their Buccaneer

Pirate3D has officially walked away from The Buccaneer printer project (for now). The 3D printing device first appeared on Kickstarter in 2013 and quickly gained nearly $1.5 million from 3,520 backers setting the pace for multiple 3D printer projects to follow. Estimated delivery for early backers?  February… Read More

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