Headphone Company Disappears with $3.2 Million Worth of Presales
Crowdfunding can work wonders for projects in need of extra cash. However, crowdfunding can also crash and burn when promises aren’t kept. Such is the case with start-up company Ossic, who raised $3.2 million for 3D audio headphones… before disappearing.
Ossic launched Kickstarter and Indiegogo campaigns in late 2016 to raise money for their Ossic X headphones. Marketed as 3D audio headphones perfect for VR, the headphones seemed like a revolutionary concept. Via their fundraising campaigns, $3.2 million was eventually raised to develop and sell the headphones. Ultimately, they received more than 22,000 pre-orders for the headphones.
Fast forward to this week, and the start-up has announced it will be shutting down without giving out refunds. In January, Ossic claimed they shipped out the first set of headphones to backers in the $999 developers tier and that they would enter mass production by late spring 2018. Despite the claim, only 250 headphones were built and shipped out to a few dozen backers.
While crowfunding backers sign-up for campaigns knowing the risks, this is a huge failure on Ossic’s part. A Facebook group with nearly 3,000 members is looking into filing a class-action lawsuit. It remains to be seen what happens, but we hope for the best for all backers.
This DJ Duo You've Never Heard of is Kickstarting $100,000 for Their 'World Tour'
A DJ duo by the name LYTT hopes to embark on a world tour, spanning the globe from Amsterdam to Berlin, Rome to Milan, Tokyo to Sydney, and all the way back to Miami. However, there’s one small problem: you’ve probably never heard them. There’s another, much bigger problem: they want you to fund their world tour for $100,000.
amberLY and maTT are an amateur DJ couple that have absolutely no shame in asking others to help make their dreams come true. While most touring DJs work their asses f, putting in countless hours work just to play small, local clubs starting out, LYTT hopes to bypass all that by launching a .
*insert eye roll here*
“We believe in a modern musical movement! We aim to share it all across the globe,” the duo exclaims. “LYTT has connections and can be booked in many places around the world. The problem they are facing is they need to build their following and grow more a fan base to start pulling in big money.”
Yeah, that’s the thing about being a DJ — fans and money don’t just magically appear.
We didn’t want to put these guys down too hard before checking out their SoundCloud first, so . As now, their account has 6 followers and one track with an astonishing 730 plays. Regrettably, I’m one those plays. This is just for the record, because we realize our post will bring some unnecessary attention to LYTT’s SoundCloud page. But, what the hell!
On LYTT’s only upload there are comments mocking the duo’s Kickstarter idea, i.e. “pledging 400k,” “This is easily worth $60k right here,” “ill pay 200k for you to quit now…”
We’re not about to hate on anybody’s dreams and aspirations, but asking for $100k seems a little sketchy. Let’s just say for argument’s sake that LYTT are legitimately talented. Maybe they are the best thing since sliced bread! So what do they need all this money for?
The couple has taken down most the Kickstarter’s funding breakdown and replaced detailed information with vague bullet points. That wasn’t before I copied and pasted the following out pure and utter shock: “Promotional Handouts $3,000 * Tees *Stickers *Cards with download codes for free music *Business cards.” Excuse me, WHAT?
Backing LYTT doesn’t come without its perks, however…
$15 or more: We will send you our newest song personally for free on the release date!
$50 or more: Get a download card for free music and one LYTTS T-shirts!
$100 or more: Get a download card, a T-shirt, a sticker, and a signed photo!
$500 or more: Get all LYTT’s Merchandise in a goodie bag! Includes; Download card, CD or USB, T-shirt, Keychain, Sticker, and an exclusive signed photo! Not only this but if you are in the area LYTTs Tour destination get 2 free tickets and go meet LYTT in person!
$7,500 donation: Get everything you need, brand new equipment, a hard drive with music, and a personal video lesson with LYTT to learn how to DJ! (Free Shipping)
With 10 days to go, LYTT has raised $48.13 their $108,500 goal. If you really want to help ’em out, .
H/T: | Photo