“$1 million USD is not a lot to launch a product” – Keezel
We cringed when we read that. If you did too, read on…
Another portable vpn company sent out an email lauding an equity based crowd fund that they’re running. So far they have burned through over a million dollars, don’t have enough money left for production runs to satisfy orders from 2015, are refusing refunds and the equity crowd fund is for a new company in the US with what looks like little to no assets which will loan the original company $300K to dig itself out of a hole (assuming they manage to raise that much).
If you’re a backer of our competing product, there is an olive branch for you at the bottom of this post.
InvizBox Go isn’t our first run at crowd funding. We produced the InvizBox back in early 2015, on time and on a budget of just over $20,000 USD all while working full time jobs. We turned around delivery to 600 customers in 4 months from the end of funding.
Keezel launched their crowdfunding campaign in July of the same year and we were gutted. We had already put some engineering effort into what we called “InvizBox Mobile” at the time (“InvizBox Go” now) but we were beaten to launch.
We scrambled, launched our campaign and raised just over €100,000. To cut a long story short, 5 trips to China and lots of revision was needed before final delivery. We were just short of 10 months late in total.
Total project cost including a long and unexpected delay, firing our first manufacturer and delivery of all our pre-orders was under $250K. That’s what bugged us so much about someone saying “$1 million USD is not a lot to launch a product”. It IS a lot. More than enough. Way more.
While getting the product to market we had long, sleepless nights and faced into a cash abyss as is the norm in a startup. We spent time creating a contingency plan and that plan never had us touching the production run money. How could it? Having the expectation of delivery is a tremendous weight on your shoulders.
It is even worse continuing to take orders from people knowing you haven’t got the capability to produce their product. This has been going on for months now. They’ll take your money today if you’ll place an order. How is that right?
“$1 million USD is not a lot to launch a product.” – nonsense
If you’re one of the folks who bought a Keezel and are still waiting on delivery 2 years later: Get yourself an InvizBox Go now, email us your Keezel receipt and we’ll give you a free 50% increase in your service subscription length.