August 22, 2013

Ubuntu Edge Smartphone Misses Its Crowdfunding Goal by Over $19 Million

When Canonical launched its crowdfunding campaign for the Ubuntu Edge smartphone last month it set an ambitious goal: raising $32 million through Indiegogo. As it turns out, that goal was a little too ambitious, as the campaign has wrapped up nearly $20 million short. After 30 days, Canonical was able to raise just over $12.8 million from more than 27,000 backers.

While the campaign rocketed to nearly $3.4 million within the first 24 hours, the influx of donations quickly slowed at that point. It led Ubuntu to reset the pricing scheme several times. Under the original structure, the first 5,000 backers would receive a phone for $600, while everyone thereafter would need to pay $830. Limited tiers of $625, $675, and $725 were eventually...

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