Crowdfunding is a boon as we all say. It has helped many businesses flourish unexpectedly. It has helped many people grow and many many dreams come true. However, one thing which no one ever mentions while discussing the topic is, crowdfunding failures. Yes. Though there are many people out there who would tell you the benefits, tips and tricks, etc.
But no one will mention the crowdfunding failures. People sometimes think that it is disheartening or demotivating. However, in reality it is not true. You don’t need to get demotivated. Instead, you can learn from the mistakes those campaigns made. And thus, ensure that you do not repeat any such thing. Here are the most infamous stories of crowdfunding failures. Have a look at them. And you will learn a lot!
#Laser Razor
Laser Razor is a product which was launched by a company named Skarp. It has been one of the biggest crowdfunding failures. The company approached Kickstarter to launch their campaign. However, Kickstarter turned it down. Because the company did not even have a proper working prototype for the product.
Thereafter, the company approached Indigogo and relaunched its campaign. The “innovative” Laser Razor idea, managed to collect some $442,000. However, the company has already delayed the shipment dates. The reason behind this is probably that they did not have a functional prototype. And their device can hardly cut a hair or two.
#Crystal Wash 2.0
If you ask how much money it raised? Well, then it is not a failure in that sense. It managed to raise $268,000. But this is regarded amongst crowdfunding failures because it shows how companies like Kickstarter too can be careless about the quality of products they have.
This product is something really bizarre. It says that it can clean clothes by shrinking the water molecules crystal. This statement in itself is the most meaningless thing ever. Backers are complaining because they are not receiving the product. And the company is not even replying to them.
#Annihilator Customizable Car
Crowdfunding failures are quite common in the business world. Many campaigns either fail to impress or fail to deliver. However, this customizable car crowdfunding campaign was something out of the world. This campaign asked to raise a million dollars for their “car”. However, the theory of the car they portrayed was something too good to be true.
Most reports claim that this was some stupid joke. But it is quite bad for the people who did trust it and even fund it.
#Zano
Kickstarter has more often than not launched some crowdfunding failures. However, the Torquing Group’s Zano was the most embarrassing of them all. The Zano was meant to be a flying little baby drone. Though the idea was really successful and appreciated. It even managed to raise $3.4 million. But when the customers actually tried to make that thing fly, it never did.
The company declared itself bankrupt. And ended up being one of the biggest crowdfunding failures ever.
Crowdfunding failures in this industry are quite common. However, it doesn’t mean that crowdfunding is a bad idea. All it means is that you need to be more careful.
