Are you familiar with the idea of kickstarter, well its basically a website setup in 2009 which offers entrepreneurs with funding crisis an opportunity to raise the required funds from general masses who are interested in their products. The idea back then was pretty novel and remarkable and many projects have been funded by this method. And this method of fundraising offered unique opportunities for the backers as well, such as getting their hands on the proposed product before anyone else, along with some backers only exclusive contents as well. The only basic requirement for kick starter is that, a company setting up for a fundraiser must state the target sum and also state a deadline for accumulating the sum through backers of the project. Whether the project ever leaves the drawing board or whether the bakers get what they signed up for is not a responsibility of kickstaters.
Therefore, it is highly advisable to do a bit of research before setting out to invest in a project in kickstarters. The offers and promises made by companies raising funds for their projects are usually quite lucrative thus making it hard to pass on such an opportunity at the backers end. However, there have been incidents in the past of scamming the backers via kickstarter projects. If one happen to fall for such a scam, there is hardly anything to do after the donation has been made.
To learn about The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations please click the link to insider monkey’s blog post. Hopefully this post will prepare you to identify scams on kickstarters.
