Over the years I’ve invested in a few products from crowd funding websites, both Indiegogo and Kickstarter. And, although the end products have been variable in their use, I still turned to these sites for great new ideas and ways to invest to get them to market.
But the thing is, as I suspect is the case for a lot of people, I assumed my invested money was safe. It isn’t. And recent collapses of invested projects, losing all of the money that people have contributed, has brought home to me just how much you’re gambling. And the problem is I’m not a gambler.
Personally, what turned me away from Crowd Funding was one product that I invested in – GOkey. It’s aims were fantastic – to produce a key ring gadget that would do all of the following…
- Bluetooth and GPS tracking of your keys
- And if you lose your phone, press the GOkey and it will make your phone ring!
- A matching smartphone app for file management and tracking
- In-built battery so that you can connect it to charge your phone. Shake it to see the battery level
- Use it to connect your phone to your computer
- Built in memory
- All of this via USB 3
It sounded great, so I invested. As did a lot of people. Indeed, it raised 2581% of its funding target. That’s over $1.2 million.
But that was 2 years ago and I still don’t have my GOkey. Oh, it’s due. A number of months away – apparently – but still due.
And this project has learnt the hard way what happens with technology if you take your time with it – it moves on. The memory they offered is no longer a decent amount and the connection – micro USB and the old-style of Apple connector – is out-of-date. To their credit they’ve done something about it, offering investors alternative connections and increased the amount of memory but all this has done has delayed it even further. Indeed, looking at the Indiegogo page the person behind the GOkey seems to spend more of his time dealing with investors, not just those complaining about the delays, but those who’ve changed email and/or postal address.
It’s all quite depressing. It wasn’t particularly cheap but I was excited by what it featured. Now I just want for something – anything – to turn up. And, if it’s anything like Pressy, then it could be a lot of crap.
I’ll leave the last word to a single line in the product’s FAQ…
Estimated national and international shipping is Q3 2015