Panono continues to be a shining example of the whole lot that may go wrong with crowdfunding. After elevating $1.25 million, going bankrupt, and failing to ship its product to most backers, supporters of the marketing campaign are actually being offered a 2nd likelihood to obtain the 360-level digicam they already paid $500 for — via paying every other $1,ONE HUNDRED more.
Remaining we heard from Panono, its assets have been scooped up by way of an funding corporate named the Bryanston Group and put inside a preserving company named Professional360. on the time, the Bryanston Crew mentioned it felt “morally obliged” to do one thing for the Panono backers who never won their camera, which made it sound like the company may make and send units out or offer refunds.
but it surely turns out, the answer is neither: Bryanston is offering backers a chance to shop for the puzzlingly pricey Panono digital camera at a reduction.
“we predict that is an even be offering.”
Backers of the Panono have already paid at least $500 to obtain a digital camera. Having done that, they ’re now being introduced the chance to shop for a digital camera package deal at what Professional360 claims is manufacturing cost — or part off its retail price. Backers have the choice among two different bundles, which, cut price incorporated, vary from a bit over $1,ONE HUNDRED TWENTY to $1,240.
To be actually transparent, this is a terrible deal. Backers have been with out their cash for almost 4 years, and so they ’re now being given the chance to buy the digicam at a no longer particularly considerable discount whilst you come with the money they ’ve already paid.
On top of that, 360-degree cameras have complicated considerably within the 4 years on the grounds that Panono ’s crowdfunding campaign. Backers idea they have been buying a slightly dear and fairly inventive toy. However at this aspect, you’ll purchase something that replicates the functions of the Panono for less than $100. (It gained ’t have the answer of the 36-lens Panono, but the high quality more than likely gained ’t be all that far off.)
Professional360 is also giving Indiegogo backers who purchase the camera free and unlimited use of Panono ’s paid cloud features, but the ones options are a joke. Panono gives free garage of 360-stage pictures in the cloud for all customers as it is, that is great. nevertheless it fees €9.90 (approximately $11.70) monthly for access to enhancing options, and it fees another €19.90 (about $23.50) to take away a Panono watermark that will get put on the pictures.
The frustrating section for backers is that they don ’t have any recourse right here. The Bryanston Team didn ’t buy all of Panono — it handiest purchased the company ’s assets, logos, and patents — so it could make new Panono cameras, nevertheless it doesn ’t grasp any of the liabilities that got here with the company. that incorporates owing the rest to the two,000 or so backers who paid money and never received their cameras.
To make all of this extra sophisticated, Professional360 says it will most effective sell 50 discounted cameras per thirty days to backers (and every backer is limited to simply one digicam). Whilst the corporate says it ’s making an exception this month and can sell beyond the 50-camera limit, that still manner it might take years for backers to get their cameras (though it ’s onerous to imagine so much still need them at this aspect).
Professional360 has emailed backers with the offer and claims that the majority replies are “very sure” and that it won greater than 50 orders in precisely the first hour after reaching out. “we think this is a fair be offering, as we do not earn any margin at the camera and backers might nonetheless be paying — in general — considerably lower than any of our regular shoppers,” a company spokesperson mentioned in a press release. “we’re glad to in any case end the Indiegogo supporters ’ years of ready and uncertainty. we are remaining a chapter in Panono ’s history and glance forward to what lies beforehand.”
However the company ’s offer is much from what backers signed up for when they set down $500 four years in the past. that is an excessively excellent reminder that, in particular whilst it involves difficult tech merchandise, it ’s often a fair idea to attend to peer if a crowdfunding project if truth be told ships in preference to giving the campaign cash up front, although it manner dropping out on a discount.