Coolest Cooler Just Ran Out Of Cash

[EEVblog]

Doh!

http://www.oregonlive.com/window-shop/index.ssf/2016/02/coolest_cooler_ran_out_of_cash.html

[Muttley Snickers]

Thank you very much but I will stick with my trusty Igloo Esky, it's as cool as a plastic box could be.

Not happy Jan.....
https://www.kickstarter.com/projects/ryangrepper/coolest-cooler-21st-century-cooler-thats-actually/comments

Shaft the backers and sell it on Amazon.....
http://www.amazon.com/Coolest-Cooler-in-Classic-Orange/dp/B016VXVLFC

[EEVblog]

Shaft the backers and sell it on Amazon.....
http://www.amazon.com/Coolest-Cooler-in-Classic-Orange/dp/B016VXVLFC

It's in stock!

[keethrax]

Shaft the backers and sell it on Amazon.....
http://www.amazon.com/Coolest-Cooler-in-Classic-Orange/dp/B016VXVLFC

It's in stock!

They actually talk about this. Note: the amazon price is *way* higher.

The claim is that they don't have enough to fulfill backer orders, and so are selling what they *do* have on amazon at what they hope is enough markup to be able to use that money to allow them to make more to send to the remaining backers. I think they likely even intend to do just that. I also think it won't work.

[sswift]

It's crazy enough that was selling those things on Kickstarter for $185 + shipping having raised $13M, but if you look at the campaign his initial goal was only $50K.  How did he expect to be able to produce any of them at anywhere near that price point with only $50K? 

[rrinker]

 Lack of experience? He probably figured it cost him $100 to build his prototype, but didn't count his time, and forgot he picked up the cooler he used for $5 at a yard sale. Then he found out how much it really costs to have custom plastic made, and when you have someone else build things for you, they most definitely charge labor costs.

[stejep]

I really thought it was a joke at the time.
Then $13M , and I slightly changed my mind.
People started reporting they had got theirs, oh well maybe they did do something right.

And now bingo. They did fail.

[ChunkyPastaSauce]

Apparently they are getting, or at least trying to get, a convertible note from CircleUp to keep them floating while setting up for series A.

https://circleup.com/companies/?search=coolest    ... but you can't see the details unless you're an accredit investor.

[Mechatrommer]

2.4 mills for development, 4.5 mills if including business ops... he should have a full factory by now with his glassed floor office at the sky top if he is me, i will use 3.5 mills to get full factory and consultants within my grasp. the balance of 7.4 mills i can make 60,000 the not so coolest tumbler. thats $120 a pop, if the china audit you ask, they can do it at less than $50. now if you dont have deficient attention disorder, you should noted there is 1 mill missing in the ledger, whats that? thats my retirement happy ending... i'll put my head in the sand for a very long time or jump out of a sky or something if i fail to deliver...