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Samsung Buys Kickstarter-Funded Internet of Things Startup For $200MM 107

Posted by Soulskill
from the keeping-up-with-the-Googses dept.
jfruh writes: In September of 2012, SmartThings took to Kickstarter with the promise of delivering an "Internet of things" package to backers, including a hub device that would control various home gadgets via the user's smartphone. They aimed to raise $250,000. They got $1.2 million. And now they've been bought by Samsung for a reported $200 million, as the South Korean electronics market tries to get a foothold into this emerging market.
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Samsung Buys Kickstarter-Funded Internet of Things Startup For $200MM

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  • by Anonymous Coward on Friday August 15, 2014 @12:32PM (#47679217)

    Mod parent up! I'm starting to see real problems with this crowdfunding model.

    One of the reasons people were so pissed at OR was that if the crowdfundies (crowdfunders? I dunno) had the same benefits as a typical investor (percentage of stock, etc) then the sale to FB would have made them all a little bit of money. Instead, they got a t-shirt. All the risk, none of the reward.

"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts." -- Bertrand Russell

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