When over 60,000 people pledged over $13 million to the Coolest Cooler Kickstarter campaign in the fall of 2014, they expected they would be sipping on freshly blended beachside margaritas by the spring of 2015.
But here we are more than a year after initial delivery estimates and thousands have yet to receive their cooler. For those of us still waiting, our worst fears were confirmed when creator Ryan Grepper sent out his most recent backer update: the entire $13+ million is gone.
Among other lessons the Coolest failure can teach us is this: Kickstarter is not a store.
– Thomas Schroder, Krowdfund.com