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The real reason Quirky, a startup that raised $183 million, went bankrupt in 6 years | LinkedIn

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Interesting article on Business Insider. We will discuss about Quirky failure soon also on Startup Over Blog. There’s been a lot of buzz covering the story of Quirky failing this summer (and filing for bankruptcy this week). It usually reads something like “venture backed company burns through mountain of cash without real business” or some other such garbage. I’ve found myself thinking a lot about the fundamental reasons why Quirky failed and think it’s a prescriptive story for hardware founders. I was lucky enough to be at Macworld in 2007 when Steve Jobs launched the iPhone. It also happened to be the same year I met Ben Kaufman who was working on a company called Kluster. I’m not sure if Ben would describe it this way, but Kluster was sort of a rough draft of Quirky. At Macworld, Kluster had setup this funky looking booth where the attendees could take a break from the mayhem of the conference to brainstorm new product concepts. The idea, which is confirmed by research and one of

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