AppTag 38% Funded – LOVE @Kickstarter
We’ve still got 32 days to go, wbut already 38% funded after just 5 days, LOVE kickstarter!
Kickstarter is going to disrupt a lot of businesses! Previously an inventor like me would pitch inventions, then the toy company has a bunch of committee meetings, they then decide to evaluate it with an option, if they then proceed they offer a small prepayment and an eventual 5% royalty on wholesale. They cover all marketing and manufacture. Inventors can do really well with the right toy!
Now with Kickstarter, I can develop an idea and do the same work as I pitch to the toy companies (create a movie and do a presentation). I then upload it to Kickstarter – where thousands of people evaluate the product! Real customers put there money down if it is good!
So for example with the jaja pressure sensitive stylus (which we pitched as a kids coloring in toy) we have now had over 1000 backers, and raised enough to do the tooling and final development work ourselves – we own the IP, and we can sell direct online for a cheaper price with a greater margin.
I mean look at the Nerf toy – they are selling for $40 and wont be available until August – we’ll be sending ours out in June and you can get one for just $25, and we make the margin rather than the 5% royalty, it pays for our production and everyone is happy!
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