Monday, 2 April 2018

Crowdcube funded Kokoon announce more delays, an online data storage issue and more.



Kokoon used Kickstarter to pre sell their sleep enhancing headphones 3 years ago. Then they used Crowdcube to raise £1.65m six months ago. So far, nothing has been delivered except for broken promises.


This one just keeps on going. Every time they set delivery dates, they postpone them. Everytime they declare the product ready, it has new tests. To date the KS forum is setting something of a record with over 2500 comments. The latest update says there is no date for completion or shipping. Just more testing - into year 4.

We did warn you - - several times.

Their Australian customers are getting a little nervous as the Government there is about to put a 10% tax on all consumer imports - that's in a couple of months.

Kokoon recently announced that their app will down load sleepers information to the cloud. This has caused quite a stir as it apparently wasnt made clear that the headphones would have to work on line or that any data would be stored. Coming at this time, when FB is under such scrutiny, is not the best.

There is a rumour that they have stopped issuing refunds. Most of the comments are not complimentary. You investors must be holding your breath.

More when we have it. 



3 comments:

  1. Kokoon also took £150,000 off the British Design fund as well (a Seedrs backed fund). Incidentally this is the only investment that this fund has made since trousering its investors cash last May/June time. They said that they would be investing in a diverse portfolio of at least 10 companies but have since told backers they will only be investing in 3 (the dreadful Kokoon being one of them).

    Back to Kokoon it seems the promise of headphones for backers by April has yet again been broken. Will they arrive before next Chinese new year? Where is the oversight from Kickstarter, Crowdcube and Seedrs about these sorts of companies who have now taken millions from punters and delivered absolutely nothing?

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    1. This situation is far worse than it seems. Kokoon started their Crowdcube campaign declaring they needed £750k - that apparently was easily enough to complete the (apparently already shipable) headphones and make headway to positive EBITDA. They in fact raised over £1.6m - so an extra 850k and still they cannot deliver a single item....as of today. If you are not going to question the managements honesty then you must at the very least question their ability?

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  2. Good Article - Keep Up The Good Work!

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