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coughing corner
21st Mar 2018, 19:34
Apols if this has been covered before, but I'm interested in finding out a little more about the commercial aspects of 'Crowdfunding'. Kickstarter I'm aware has sort of become a bit of a 'Hoover' name, so not necessarily looking at that specific companies deals/history


Firstly I know about the generic crowdfund (CF) concept, and have a reasonable background in basic commercial principals. So its sort of T&C's type interest, with relevance primarily to the UK, as obviously commercial law varies from state to state.


May I ask
A/ Anyone got good experience of CF either as startup yourself or buying, ordering from a project/ What went well, what were benefits?


B/Anyone got bad experience of CF as startup, no delivery, project folded etc. What went wrong, what could have been better?


T&C's how 'tight' were they? were funds allocated to only one project or could producer use funds as seen fit? Were they staged payments? or all in one hit? Was there any balance/refund guarantee if end product wasn't achieved.


The reasons for asking, there's a company that is proposing a product (physical item, not digital) I'm interested in, rough cost estimated 800 delivered, (I may have two).
The company has some record of production, but lots of proposals that have never transpired, almost 'vapour ware'. Obviously before committing money, I'm keen to know a little more of others experiences, to better understand risks etc.. None of my friends family etc has used CF hence the query here to spread the net a bit wider.