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Businesses The Almighty Buck The Internet Technology Hardware

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

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 @01:32PM (#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.

When I left you, I was but the pupil. Now, I am the master. - Darth Vader