The Coolest Cooler is one of the wildly successful Kickstarter Campaigns to bring you the next level of beverage entertainment at your summer beach outing.
Complete with a cutting board, blender, Bluetooth speaker and USB charger, the Coolest Cooler raised more than $13 million and broke Kickstarter’s funding record.
Creator Ryan Grepper developed the product for a cool price tag of $165-$185.
The funding took off back in 2014 as the opportunity was too good to pass on.
However after a successful funding campaign, the Coolest Cooler ran into problems.
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The slow spiral downward for the Coolest Cooler.
Almost two years after the Coolest Cooler launched its public campaign, only about 1/3 of the backers on Kickstarter have received their orders, leaving about 36,000 people without the product they were promised.
Well when August 2015 rolled around delays in shipment were evident.
Private messages to the backers of the campaign informed them of an estimated November delivery date. That deadline then came and went.
The Coolest Cooler Was Being Sold on Amazon To Keep The Lights On
Grepper then explained on a YouTube video that the Coolest Cooler was now being sold on Amazon to “keep the lights on,” according to The Verge.
The current asking price for Coolest on Amazon is $400, over $200 more than the original investors put up on Kickstarter.
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An update posted on April 12 to its Kickstarter page for backers only, which according to Motherboard explained that if the original investors wanted to get their Coolest Cooler within the next three months in time for the summer of 2016 …
An additional $97 would need to be provided.
What happens if investors in the product were not willing to contribute more money?
Well an indefinite delay in delivery would occur until profits from Amazon sales would be able to cover the expense for manufacturing and shipment for the original Kickstarter backers.
Let’s just say the uproar from many have been less than positive as many have begun to lose faith in the company and even crowd source funding in general.
Kickstarter has stated that only about 9% of successfully project are not able to deliver.
So the story about the Coolest Cooler is not exactly typical however it is more of the more prominent issues brought to light given the scale of its funding success.
But that doesn’t mean you cannot purchase the Coolest Cooler for yourself this summer.
The product is currently available on Amazon.
Only those who originally backed the investment of the product at its early stages are going to have to either pay the difference being requested or wait longer for the delivery promised to them at the onset of the Coolest Cooler’s success.
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Coolest Cooler is One of the Best and Worst Kickstarter Campaigns
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