Crowdfunding Hits, Misses, and Lessons Learned

Back in November 2020, I wrote about some considerations and dramatics around crowdfunding campaigns. In this post, I’ll give you my top five and bottom five crowdfunding efforts, and maybe a lesson or two to take to the future.

This post has been sitting in my draft folder for a year now, but nothing has changed in it other than the recent time references, which I’ve left as they were in November 2020. I’ll come back with photos later, rather than putting this post off another year.

It was the best of times

My first crowdfunding campaign was the LunaTik and TikTok wrist cases for Apple’s 6th generation iPod Nano (the square one). MINIMAL Design came out with the first huge campaign in 2010, with over $942,000 in backers and a super high quality product that was delivered reasonably. My red LunaTik still sits on my desk, with a functional PRODUCT(RED) Nano in it, and a couple of years ago Scott Wilson, the founder of MINIMAL, mentioned that Apple had used his band/case as part of the prototype design and testing for the original Apple Watch. The watch has come a long way, but the product is still beautiful and functional ten years later. And they’ve come out with more products for the real Apple Watch since then.

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When is a crowdfunding project a scam, vs a normal project run by humans?

There’s a new wave of crowdfunding efforts in the last year or so, changing the dynamic in a sense. There are some reasons to be concerned about pitfalls in your crowdfunding adventure, but other reasons not to be.

Let’s take a look.

Disclosure: While I have backed over 90 crowdfunded projects across platforms (not including projects that did not “finish” and thus took none of my money) in the past 10 years, and I have had professional relationships with two of the companies mentioned here (VAVA and ZMI), nothing in this post has been reviewed or approved or otherwise influenced by them or any other company or entity. For the crowdfunding projects, they took my money like everyone else’s, and delivered the products like everyone else’s.

A not-so-brief history of crowdfunding

It used to be that a designer or developer or artist would come up with an idea they couldn’t get commercially adopted, post a crowd-funded campaign on Indiegogo or Kickstarter, and hope to make enough money to produce it on their own. This led to some amazing projects and companies.

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