The Coolest cooler, Kickstarter's most successful campaign runs out of cash, screws backers
Next time you’re drunk investing on Kickstarter or any of the crowdfunding sites remember, these are not stores and there is no guarantee that they’ll come through on their “promise.” Sure you’ll have to find another method for blending your Fuzzy Navels next to the urine filled public pool but at least you’ll still have $165 and your dignity.
The Coolest cooler, one of Kickstarter's most successful campaigns to date announced that due to a shortage of cash, it's having trouble fulfilling thousands of orders. For the record, the Coolest Cooler sold $13 million worth of product during it's campaign on Kickstarter that ended in March 2014. How could a cash shortage even be possible? Well, the founders mismanaged margins and always planned on having a budget shortfall which they were hoping to overcome with increased sales. That didn’t happen. Now the company is looking for an investor with millions to toss toward a unorganized business and a penchant for partying to help pull them from the red.
Hopefully that makes you feel better. Although, what won't make you feel any better is the fact that you can actually go to Amazon right this moment and purchase one of The Coolest coolers for $499, a slight increase over the $165 price originally offered to Kickstarter investors. And even more depressing, if you order an Amazon cooler, you’ll actually receive it. That’s right, the company has coolers for people paying full price but not for the original investors.
Life's a bitch, although there's still hope for the masses who invested but it might be more advantageous to cut your losses and find another dismal Kickstarter campaign to hinge your hopes and desires to.