Ubuntu Edge Now Most-Backed Crowdfunding Campaign Ever

Volanin writes "The Ubuntu Edge has now passed the $10.2 million mark, thus making it the most pledged-to crowd-funder in history. While the Ubuntu Edge campaign is to be commended for reaching such a mammoth milestone as this, it can't quite claim ultimate victory yet, since it's just short of making one-third of its $32 million goal with a little less than a week left."

Why Crowdfunding ?

[Anonymous Coward]

Shuttleworth should just cancel his next trip to mars to raise the funds.

Superlatives are superlative!

[ReallyEvilCanine]

...the most pledged-to crowd-funder in history.

Until the next one. And then the one after that. And the next one. And in 10 years comes the next story about constant-dollar successes.

All the while, the actual story is (less spectacularly) "After 25 days Ubuntu Edge only has one-third of $32M goal pledged with five days left."

Re:Superlatives are superlative!

[houstonbofh]

It also was very helpful in showing them the correct price-point for the phone. It is different from anything else out there, so knowing how to price it was going to be a challenge. Now that they know what the market is willing to pay, they can build around that.

Also, I would not be surprised if Shuttleworth makes up the difference at the last minute and goes forward anyway.

Re:Superlatives are superlative!

[Kjella]

Remember, you're not putting down $650 blind. If it doesn't reach the goal, you're out nothing.

Yes, but assuming they'd reach their $32 million they'd take your money now and you might get a product that is roughly what they promised and on time or just one or neither. Chances are there's no canceling, no return, no refund so anything they slap an "Ubuntu Edge" sticker on you're stuck with, at best a class action where you get a silly coupon. There's a huge difference in risk between that and a finished product on the shelf.

Re:so star citizen doesnt count?

[tlhIngan]

the ubundu edge campain on indiegogo is escrowed, if they dont raise the $30M then everyone gets their money back.

And that's why I don't participate in Indiegogo, but do many Kickstarters.

Kickstarter doesn't charge you UNLESS the project is funded. Indiegogo charges you first, then refunds you if it fails.

There are two problems with the charge/refund model - one, if you're doing a currency conversion, that means an instant 5-10% hit on your pledge - just due to currency exchange losses. Neverminding currency fluctuations that occur from when you pledge to when you get refunded (and no, you can't win).

The second problem is well, you tie up money. Indiegogo makes a profit based on simply holding the money (and this isn't including the Indiegogo fees). I suppose it makes Indiegogo brilliant business people - they have this huge pool of cash they can pretty much invest with - all they need is enough cash to cover the payouts of the day, but money's coming in for future payouts.

But it's the currency losses that get to me. Pledge under $100, and it's not a huge deal - it's probably $5-10 you lose. But I've done bigger pledges on Kickstarter, and you're looking at huge losses. $1000 pledge? Are you really willing to give up $100 or so in the currency exchange?