Apr 18, 2012
I’ve written before about the dying traditional VC model. Dinosaurs wandering the earth demanding $100M companies, 10X return, 3-year business plans (complete with a carbon-dating analysis, thank yew), and pounds of spreadsheets. Could a “virus” finally kill them off for good?
And now this just in. Rejected By VCs, Pebble Watch Raises $3.8M on Kickstarter .
..Then he hit a roadblock. A big one. Migicovsky couldn’t raise more money. Few investors were interested in betting on a hardware startup, or dealing with the headaches that often come with manufacturing goods.So Migicovsky posted his watch on Kickstarter, a “crowd-funding” website where anyone can pledge money for creative projects that have yet to be completed.
26,000 people invested. Quickly. Small amounts. No flaming hoops. No endless meetings. No repetitive questions.
Contact Mary Schmidt Today!
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