Tag Archives: investing

Crowdfunding Platforms Crack Down on Risky Campaigns

Plagued by high-profile flops, Kickstarter and IndieGoGo are bringing in experts to help inventors fulfill their promises.

It’s a story that’s become routine: A crowdfunding campaign whips up a flurry of excitement, receives a deluge of funds, and then collapses with nothing to show for it. It’s what happened to Central Standard Timing, which raised over $1 million for the “world’s thinnest watch” before filing for bankruptcy in 2016. It’s the story behind Taxa, a Kickstarter-backed company that just closed shop last month, ending its dream of bioengineering glowing plants. It was almost the fate of a $13 million campaign to produce the world’s smartest cooler, which had to ask backers for more money years after its campaign was over.

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