The 17 Biggest Indiegogo Failureshttp://1.gravatar.com/avatar/?s=96&d=mm&r=g
The 17 Biggest Indiegogo Failures
Indiegogo is a less stringent alternative to the more successful Kickstarter and as such, its failure rate was always doomed to be high. Founded in 2008, the crowdfunding site has had its ups and downs. Here are 17 of its biggest failures.
Titan Note had all the attributes of a great project and many were blinded by the fancy features and did not take time to do due diligence. Indiegogo, however, investigated a little deeper and halted the initiative on the grounds of unrealistic features in spite of the project fetching over $1 million.
Kreyos meteor was supposed to be a waterproof smartwatch with advanced functionalities such as gesture and voice control in addition to iPhone compatibility. The product was successfully developed and launched only for backers to receive products that were miles off unlike the advertised article.
The drone project enjoyed a record over $3.5 million raised on Indiegogo but went on to fail to the dismay of many. The shipped products were full of faults and the company’s support department was makeshift at best. Currently, it is all cat and mouse with many supporters already apathetic after the disappointments.
Coleco Chameleon promised to be a console that would only support old-school classics and the idea warmed many gamers hearts. Many months later after a successful first financing round, there was still no working prototype and subsequent fundraising ventures failed dooming the initiative.
Popslate 2 phone case
Many people bit the bait when Popslate dangled the carrot of an iPhone compatible cover with an extra battery and an e-ink display. To the shock of backers, in spite of the project greatly surpassing its funding goals, the final article realized was not even compatible with iPhone.
Laser razor enticed people with the promise of a laser powered shave that would not cause bumps. The project initially launched on Kickstarter but it was halted since there was no working prototype. The team then relaunched on Indiegogo and to cut a long story short, there is no functional laser razor to date.
As its name implies, Triton declared it had a product that could help divers breathe underwater. However, it was all a hoax and after prudent persons questioned the scientific basis of the project, Triton gave up the charade and came clean.
The Ubuntu Edge concept was to create a smartphone that doubled up as a PC once connected to a keyboard and monitor. Sadly, the idea was ahead of its time. With a goal of $32million, the initiative only managed to raise $12.8 million.
After dual fundraising initiatives on Indiegogo, Smarty Ring still has nothing to show for all the promises it made. Scanty updates have been the norm plus a string of redesigns, delays and final product grossly unlike what was promised.
The Soap Router
Soap router promised ultimate control for all devices connected a network through it from keeping tabs on malware and inappropriate internet usage to bandwidth metering. It launched on both Kickstarter and Indiegogo with successful results only for the founders to file for bankruptcy a while later.
It’s All Good
The creative minds behind It’s All Good, which was supposed to be a comedy movie, chose crowdfunding as the way to go. They met the $75,000 target back in 2014 but after actualizing a short production, efforts towards making the movie were seemingly abandoned with nothing ongoing thus far.
Cancer treatment funds
A woman from Iowa took to Indiegogo to raise funds for her allegedly sick child. She touched many and managed to raise thousands of dollars only for prudent supporters to realize that her daughter was healthy without any trace of cancer.
Znaps started on Kickstarter promising a 2015 summer shipping date for their magnetic phone adapter. After things went awry, they shifted to Indiegogo in a bid to raise more funds and to their credit, they came up with a product. However, to a lot of backlash, they have ditched their backers and are selling from their website unperturbed.
Labelled by some as one of the most blatant Indiegogo scams, the project collected over $ 0.7 million with a commitment to deliver a hybrid phablet with two touchscreens and a bevy of other unrealistic functionalities in addition to cutting edge specs. However, not even a working prototype was ever made.
A project with uncanny similarity to the runaway success The Million-dollar Homepage which sold pixels for a dollar each, the 1 million boat was only a scam project for a self-centered person looking to buy a luxury boat. With all the markers of a scam, the campaign failed terribly.
Nicolas cage and Kevin Sorbo movie
After the success of God’s Not Dead, Kevin Sorbo was inspired to create a movie with the same gist alongside Nicolas Cage. He put up a campaign on Indiegogo for the proposed motion picture called The Christmas Gift but the campaign’s reception was underwhelming and only 2% of the total funding was realized.
The Orgy band comeback
The 90’s Nu-metal band Orgy put up an Indiegogo campaign to raise funds for a rebrand and an album that would mark the beginning of a comeback. Sadly, the venture failed with only a meagre 10% of the targeted amount raised.
Despite just 9% of Indiegogo projects meeting their targets, the platform still remains popular due to its more flexible structure. They have been making improvements such as availing an elite advisory team and optimism now abounds regarding future promising projects.