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Surprise: Another Kickstarter Success Story Is Broke

 & Angela Moscaritolo Managing Editor, Consumer Electronics

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Back in August 2014, the so-called Coolest Cooler was basking in its success as the highest funded Kickstarter project of all time with more than $13 million. Now, it's broke.

According to The Next Web, the Coolest Cooler has "burned all the way through its $13 million in funding, and is now searching for an investor to help bail them out." Many Kickstarter backers are still waiting for their long-ago promised cooler, which features a built-in blender, removable waterproof Bluetooth speaker, and USB charger—and as you can expect, they are not thrilled about the more than year-long delay.

In a recent message to backers, the Coolest Cooler team basically said they need more cash to fulfill remaining orders.

"We are in the process of identifying the right partner who can provide the capital and strategic resources to fund the remaining production of backer rewards and help grow the company to the next level," the Coolest Cooler team wrote, according to TNW (recent updates are only available to backers). "We're not quite there yet, but it is moving forward."

As the report points out, the cooler is still available for purchase on Amazon, even as some Kickstarter backers wait for their orders to arrive. Worse yet, the company is giving backers a hard time about issuing refunds, as you can see in the Twitter exchange below. 

coolest cooler refund

For its part, the Coolest Cooler team says it's still committed to getting the tricked-out tailgate accessory in the hands of everyone who ordered it.

"While there have been delays, we are still working diligently to complete our project–and our obligation to our backers," Coolest spokeswoman Susan Towers reportedly said in an email to The Oregonian.

Towers added that the company has "contingency plans" to get coolers in the hands of remaining backers should it fail to find an investment partner. To date, the company says it has shipped more than 30,000 coolers — though it's not known how many of those units went to actual Kickstarter backers, given that the product has hundreds of Amazon reviews.

"The project is not complete and we remain 100 percent committed to fulfilling ALL backer rewards," Towers told The Oregonian.

Meanwhile, Pebble Time's 2015 Kickstarter campaign has since eclipsed Coolest Cooler to become the most funded campaign with more than $17 million.

This article originally appeared on PCMag.com.

About Our Expert

Angela Moscaritolo

Angela Moscaritolo

Managing Editor, Consumer Electronics

My Experience

I'm PCMag's managing editor for consumer electronics, overseeing an experienced team of analysts covering smart home, home entertainment, wearables, fitness and health tech, and various other product categories. I have been with PCMag for more than 10 years, and in that time have written more than 6,000 articles and reviews for the site. I previously served as an analyst focused on smart home and wearable devices, and before that I was a reporter covering consumer tech news. I'm also a yoga instructor, and have been actively teaching group and private classes for nearly a decade. 

Prior to joining PCMag, I was a reporter for SC Magazine, focusing on hackers and computer security. I earned a BS in journalism from West Virginia University, and started my career writing for newspapers in New Jersey, Pennsylvania, and West Virginia.

The Technology I Use

My little Florida beach bungalow is brimming with smart home tech. I have a smart speaker or display in every room, allowing me to control other connected devices by voice. The Nest Hub on my bedside table lets me set wake-up alarms, control my smart light bulbs, and set the temperature on my smart thermostat. I use the Amazon Echo Show 8 on my kitchen counter to browse recipes, reorder protein powder, check the weather, and watch the news while I do dishes. 

Because I suffer from allergies, air purifiers are essential. My favorite model is the Dyson Purifier Cool TP07, which doubles as a fan and continuously sends indoor pollution data to its companion mobile app. 

My pitbull Bradley sheds, so a good robot vacuum is a must. I currently use a premium Ecovacs Deebot that can both vacuum and mop, empty its own dustbin, and wash its own mop cloth. 

For fitness, I like to mix up my routine with cycling, indoor rowing, running, and strength training in addition to yoga. I take classes on the Tonal 2 smart strength training machine, I row indoors on an Aviron machine, and track my beach runs with an Apple Watch while listening to music on my Apple AirPods Pro. On the weekends, I love riding e-bikes like the rugged, beach-friendly Aventon Aventure for fun and fitness.

My job involves a lot of virtual meetings, so a quality webcam, microphone, and ring light are important. I use the Jabra PanaCast 20 webcam, the Elgato Wave: 3 microphone, and a Yesker tripod ring light. 

As for my preferred phone platform, I'm an iPhone person, but I've also extensively used Android for product testing.

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