Crowdfunding Startups

Crowdfunding Startups | Scoop.it

Earlier this month, the Internet learned of a Kickstarter backer who brought a lawsuit against a Kickstarter project creator.  The story of Hanfree, Seth Quest, and Neil Singh was first reported by Eric Markowitz in Inc. magazine. This is reportedly the first time a Kickstarter backer had sued a project creator, and it eventually led to a secondary story about how crowdfunding is serious business.  Quick summary: Seth Quest launched a Kickstarter campaign in March 2011 for Hanfree, a standing iPad mount he’d devised. The crowdfunding campaign was a success, and he raised $35,000. Production was a disaster, though, and Quest ended up unable to fulfill his backers’ pre-orders. Neil Singh was one of those backers, and he filed a lawsuit against Quest.