0

The rise and fall of Sugru @sugru Purchased by @tesatapeinc #makerbusiness

Adafruit 2018 0500
The rise and fall of Sugru, the British Blu Tack rival that almost crowdfunded itself to death @ WIRED UK.

Investors in adhesive wonder material Sugru are losing most of their money after the crowdfunded startup failed to scale. So what went wrong?

Crowdfunding a startup is a risky business. Last month FormFormForm Ltd (FFF) — the British firm behind a moldable material called Sugru — disappointed investors after it sold out to German adhesives specialists Tesa for a knock-down price of £7.6 million. That’s almost £25.4 million less than it told investors it was worth when they backed it on Crowdcube. That means the investors are losing 90 per cent of their money – and needless to say, they are pretty bummed.

“I’m very disappointed as the funding literature indicated high growth plans,” says a Crowdcube backer who wishes to remain anonymous. “The marketing material was clearly inadequate and did not highlight the risks and threats especially with the bank funding. Sugru should have advised us months ago.” This investor lost 91 per cent of his £500 investment. He says he would have invested more had it not been his first time investing on Crowdcube. Asked if he’d use the platform to back startups again, he shakes his head: “Most likely not”.

Read more. Sugru is an excellent product, we’re looking forward to it continuing with Tesa.


Make a robot friend with Adafruit’s CRICKIT – A Creative Robotics & Interactive Construction Kit. It’s an add-on to our popular Circuit Playground Express, FEATHER and other platforms to make and program robots with CircuitPython, MakeCode, and Arduino. Start controlling motors, servos, solenoids. You also get signal pins, capacitive touch sensors, a NeoPixel driver and amplified speaker output. It complements & extends your boards so you can still use all the goodies on the microcontroller, now you have a robotics playground as well.

Join 7,500+ makers on Adafruit’s Discord channels and be part of the community! http://adafru.it/discord

CircuitPython in 2018 – Python on Microcontrollers is here!

Have an amazing project to share? Join the SHOW-AND-TELL every Wednesday night at 7:30pm ET on Google+ Hangouts.

Join us every Wednesday night at 8pm ET for Ask an Engineer!

Follow Adafruit on Instagram for top secret new products, behinds the scenes and more https://www.instagram.com/adafruit/


Maker Business — Despite multiple bankruptcies, RadioShack continues to find ways to keep the lights on

Wearables — Molding with glue

Electronics — A few words on inductor resistance

Biohacking — Running Blades

Python for Microcontrollers — Help bring CircuitPython to other languages!

Get the only spam-free daily newsletter about wearables, running a "maker business", electronic tips and more! Subscribe at AdafruitDaily.com !



No Comments

No comments yet.

Sorry, the comment form is closed at this time.