I used to think that crowdfunding will work 95 percent of the time. We’ve seen a lot of projects on Kickstarter and Indiegogo that became successful but sadly, there are those unlucky groups that didn’t reach their funding goals.
The $32 million goal by Canonical was too huge an amount maybe that’s why the company only raised a little less than half of it. The Ubuntu Edge smartphone project was only able to raise $12.9 million. The number still makes it the biggest crowdfunding campaign though but Canonical is short of $19 million.
Funding started last July 22 and ended last August 21. Raising $32M within a month seemed impossible then but the company and perhaps some of the backers were hopeful they’d fund the goal by deadline.
Canonical broke records but they still need more money. The campaign was so bold but fell short if we are to look at the amount still needed. Looking at the bright side, the team saw that a lot of people believe in their product. About 20,000 shelled out hundreds of dollars. Big businesses too invested in the project like Bloomberg LP that gave $80k. Small businesses gave $7,000 each reported Canonical’s Mark Shuttleworth. The response of the people was still overwhelming.
Ubuntu phones are expected to arrive in 2014 but we have no idea how Canonical will make it happen. We heard refunds will be processed by PayPal but I wonder if the Ubuntu Edge phone will see the light of day. What do you think?
< Source: Indiegogo >