Europe’s biggest Kickstarter project fails

Europe’s biggest Kickstarter project fails
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       Last November the British company Torquing Group launched their crowdfunding campaign on Kickstarter and soon managed to raise more than $3.6 million. Recently the company announced its liquidation due to some “irreconcilable differences”. Who could expect that? Now it is very unlikely the project’s backers will receive their money back.

       Torquing Group was going to supply mini-drones named Zano, which can be described as autonomous quadrocaptureres for the aerial photo- and video shooting. Also, there were several cool features designed: the device can follow its owner and capture videos or the owner can direct Zano drone through a specially developed mobile app. The first shipment was supposed to be processed in June 2015, but the company postponed the arrival date several times. Although Zano mass production was eventually launched, the drones turned out to be rather malfunctioning: short battery life, poor autonomous features, bad picture quality.
Europe’s biggest Kickstarter project fails
        At the moment, there is another campaign launched around Zano drones – rage campaign. Disappointed Kickstarter backers are complaining about the startup in various media sources, many of them are demanding their money back. One of Zano backers even claims to have been deceived, since Torquing Group presented Zano as an almost-finished product, which only needs extra money to scale. Here comes the question: why do customers receive malfunctioning Zano drones? Kickstarter platform is also blamed for improper project selection and misstep of auditing Torquing Group company.

       Shall we trust crowdfunding platforms and support non-existing projects? Actually, Kickstarter warns its members that backers take a certain risk, contributing even to a fully-funded campaign. Still, this case is unfortunately not the first failure among Kickstarter projects.

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