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We raised 52K and cancelled our KS. Did we do right thing?

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by ivanzatko » Thu Aug 03, 2017 8:22 am

Hey guys,

it's only been a while since we have run our Kickstarter campaign for Benjamin Button. Our funding goal has been 25K and we raised 52K in 4 weeks. And yet, we decided to cancel the campaign. It really took guts to refuse such a huge amount of money, but this explains why we did it:

https://medium.com/benjamin-button/why- ... 14e5435b62

I am really interested to hear your opinion. Would you do the same thing if you were us?

Thanks, Ivan
Campaign creator of Skinners [1,8M raised, 18 000% of goal]
& Benjamin Button [52K raised, 200% of goal, cancelled by creator].
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by hyperstarter » Thu Aug 03, 2017 12:28 pm

I don't like clicking on links and Medium is blocked for me, could you give us all a quick summary on this board :)
Promote your campaign today with Hyperstarter & use our free tool to identify Kickstarter page problems & fixes: http://www.hyperstarter.com
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by ivanzatko » Fri Aug 04, 2017 7:52 am

Sure, here's my quick summary:

We've done the calculations before the campaign and since hardware development was almost finished and software development was on the good track, we set the goal to 25,000 USD. We reached that in few hours and doubled it in the course of the campaign. However when we were halfway through, we found out that 25K is no longer enough and we suddenly needed much more. We were limited on budget and could not afford to pay to huge agencies for boosting our campaign. So we only had two options left:

A/ to take the money and make the most of it. Trying to convince new investor to come on board and finish the hardware and software development and manufacturing for his money (Likelihood was maybe 20%)

B/ to refuse the money by cancelling the campaign few hours before it was finished. This meant to burn a lot of money and time we spent for Kickstarter, but was morally right.

You can see the result on our Kickstarter. Cancelling the campaign was not easy, but it was better than fooling our backers and then declaring bankruptcy. To be honest, we were afraid of their reaction and damaging our brand, but the opposite was true - the reactions were 90% positive and it even strenghtened our relationship with community.

Why I posted it here - this was meant to be a case study for all the campaigns that are thinking about similar dilemma. Hopefully there will be less brands like Coolest Cooler or Zano and more creators who are not afraid of the consequences cancelling the campaign might bring...
Campaign creator of Skinners [1,8M raised, 18 000% of goal]
& Benjamin Button [52K raised, 200% of goal, cancelled by creator].
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ivanzatko
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Joined: Tue Jul 25, 2017 9:00 am
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