Failed Panono IndieGoGo Offers Backers A Chance to Get The Camera If They Pay More
Mike Sanders / 3 years ago
After launching their product on Indiegogo, the Panono camera quickly found the funding it required. Offering a full 360-degree camera with exceptional image quality, it easily found people willing to back the idea.
In a report via CNN, the 2,600 backers raised over $1.2 for the camera and initially things were looking good.
Unfortunately, however, Panono went bankrupt before the camera was released. As such, all of the backers who were expecting their camera found themselves completely empty-handed.
The Bryanston Group, a Swiss group, purchased the rights to the Panono camera and the good news is that they are giving backers an opportunity to get the camera. The bad news is, however, that they will want them to pay more first.
While some Indiegogo projects can be a huge success, this is one of those horror stories that occasionally pop up.
Pay us more, please?
The fact that the new owners are asking for more money is likely the cause of the Panono’s failure. A complete underestimation of how much it costs to bring a product, particularly a high-tech one, to market.
Upon the initial Indiegogo campaign, backers only had to donate $550 to get their hands on one. Unfortunately, as above, with the original owners going bankrupt, the new owners were under no obligation to honor that agreement. As such, you can currently buy a Panono camera, but for £1,800 retail.
The Bryanston Group, however, are willing to offer backers a 50% discount on the retail price. This, put simply, means that any backer will either have to pay an additional $1,000 or $3,200 more, depending on what model they requested.
While some may question this policy, others will point out that the Bryanson Group were under no obligation to do anything at all.
What do you think? A nice gesture or further gouging? – Let us know in the comments!