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Samsung Buys Kickstarter-Funded Internet of Things Startup For $200MM

Posted by Soulskill on Friday August 15, 2014 @03:36AM from the keeping-up-with-the-Googses dept.

jfruh writes: In September of 2012, SmartThings took to Kickstarter with the promise of delivering an "Internet of things" package to backers, including a hub device that would control various home gadgets via the user's smartphone. They aimed to raise $250,000. They got $1.2 million. And now they've been bought by Samsung for a reported $200 million, as the South Korean electronics market tries to get a foothold into this emerging market.

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Re:Hesitant about Kickstarter and hardware by Anonymous Coward · 2014-08-15 05:32 · Score: 2, Interesting

Mod parent up! I'm starting to see real problems with this crowdfunding model.
One of the reasons people were so pissed at OR was that if the crowdfundies (crowdfunders? I dunno) had the same benefits as a typical investor (percentage of stock, etc) then the sale to FB would have made them all a little bit of money. Instead, they got a t-shirt. All the risk, none of the reward.