Crowdfunding can be a wonderful thing. It also has a bit of an ugly side to it, like when a company that had received support goes belly up.
That’s exactly what happened to the 12,075 backers of the Zano drone project on Kickstarter, who saw their more than £2.3 million Euros ($2.5 million) go to waste when the company backing the effort announced in November that it would be shutting down. It was the largest Kickstarter effort ever in Europe.
In an effort to deliver to Zano’s backers more information on the company, and in turn, perhaps some closure, Kickstarter has hired American technology journalist Mark Harris.
In a blog post, the freelance journalist announced that the company will pay him to “uncover the story of Zano, from its inception to the present.”
“Kickstarter has asked me to lay out the progress of the project, from start to finish; to discover what happened to the over £2m in funds pledged; and to answer the questions of whether Zano’s creators could have done anything differently, or made mistakes that future Kickstarter projects might avoid,” Harris wrote.
Staying true to proper journalistic practices, Harris said he will also look into Kickstarter’s involvement in the project. “I will also be looking into Kickstarter’s role in the project, and whether it could have served Zano’s creators or backers better throughout.”
Harris added that though Kickstarter will be given a copy of the story before he releases it (he hopes to have it done by mid-January) to the backers, and also the public, Kickstarter will not be allowed to change the story or demand that changes be made.
Harris said he didn’t back Zano, but he did add that he pledged to crowdfunding efforts in the past. He also shared what he perceives to be the pros and cons of crowdfunding campaigns.
“I believe that crowdfunding has generally been a driver for innovation, particularly in the area of technology, but that it suffers its fair share of hype, over-ambition, inflated expectations, technical snafus, unpredictable markets, poor management, and plain bad luck,” Harris said.