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Thousands of 'Coolest' Kickstarter backers will only receive $20
Five years later, it's time to put a pin in the saga of "Coolest," the all-in-one entertainment system/cooler that broke crowdfunding records on Kickstarter in 2014. The Oregonian reports that in 2017 the Portland-based company and its founder Ryan Grepper reached a settlement with the Oregon DOJ that included a provision to send just $20 to backers outside the state who never received their promised hardware. In a message that blames the Trump administration's tariffs on products made in China, Coolest has finally admitted the remaining 20,000 or so backers (out of 60,000) will never receive their coolers -- a statement that comes after it was selling off coolers in a "cyber week" sale at prices of just $100 a few days ago.
Oregon authorities are investigating Kickstarter darling Coolest (updated)
When Coolest debuted on Kickstarter back in 2014, it set a funding record. The do-it-all cooler campaing took in $13 million for an outdoor beverage option with blender, Bluetooth speaker, USB charging and more. The company asked its backers for more money back in April, saying that the price it offered during the crowdfunding campaign was too low. What's more, some backers still haven't received their coolers despite the company selling them for a discounted price on Amazon, its own website and other retailers. The Coolest website says that if you hand over $400 for a cooler right now, it will ship in 48 hours.
Coolest Cooler asks backers for more money
Coolest Cooler is the latest proof that there are a lot of interesting ideas on Kickstarter from companies that lack a plan to execute them. The company set a funding record in 2014 with $13 million for a do-it-all cooler with a waterproof Bluetooth speaker, USB charger, cutting board and blender. However, it burned through the entire amount after shipping just a third of the products, showing that the tempting $185 price tag was way too generous. To complete orders, the company now says that existing backers (who already paid the full Kickstarter price) will have to pony up another $97 for "expedited" shipping of their Coolest Coolers.
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Kickstarter has a new king: Coolest, an all-in-one cooler
Back when it introduced its first smartwatch, there's no doubt that Pebble took the crowdfunding world by storm. But, more than two years after Pebble broke and set new records on Kickstarter, a cooler is now doing the same. As of today, Coolest is the most successful Kickstarter ever, at least in terms of money pledged on the site. The project has managed to lure in nearly 50,000 backers and collect a little over $10,424,610 so far, shattering Pebble's previous milestone of $10,266,845. Coolest is pretty much a portable party on wheels, complete with a plethora of built-in accessories, including a removable, waterproof Bluetooth speaker, USB charger, cutting board, storage space for plates and, wait for it, a battery-powered, rechargeable blender. In case that wasn't enough, the do-it-all cooler will be LED-lit on the inside, for those times when you're out camping late, and have a bottle opener to boot -- we all know how important the latter feature is. You still have a chance to try to get your own, but hurry because there are only 58 hours to go.
