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Nano Watch Kit Near $1M on Kickstarter

techcrunch.com

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Re: Nano Watch Kit Near $1M on Kickstarter

#11

Post by anthonycerra »

sliverstorm wrote: post #5

What are they even going to do with all that funding? It really doesn't seem like the product is very complicated or expensive. (no offense or anything)

I thought the same thing when I started my startup (we make physical stuff too). Then I started learning about injection molding, tooling, materials, minimum order quantities, packaging, etc.

It turns out that very simple things are very expensive to start with because of the low quantities. I thought an order for 30,000 was massive, but some companies we worked with flat out laughed in my face.

So even though he raised a million bones, he's "only" making < 13,000 watches. That'll still be pretty expensive for him.

Re: Nano Watch Kit Near $1M on Kickstarter

#12

Post by stcredzero »

gursikh wrote: post #3

http://www.kickstarter.com/projects/1104350651/tiktok-lunati... Here's Scott Wilson's update form China in which he walks through the process of getting the watches manufactured. Integration with nike+ and perhaps a good set of bluetooth headphones make this the ideal running "watch".

If Nanos had the right bluetooth and WiFi integration, you could have "Star Trek: The Next Generation" style communicator badges!

Re: Nano Watch Kit Near $1M on Kickstarter

#15

Post by davi »

anthonycerra wrote: post #11
sliverstorm wrote: post #5

What are they even going to do with all that funding? It really doesn't seem like the product is very complicated or expensive. (no offense or anything)

I thought the same thing when I started my startup (we make physical stuff too). Then I started learning about injection molding, tooling, materials, minimum order quantities, packaging, etc. It turns out that very simple things are very expensive to start with because of the low quantities. I thought an order for 30,000 was massive, but some companies we worked with flat out laughed in my face. So even though he rai…

That's interesting. At what quantity do they stop laughing?

Re: Nano Watch Kit Near $1M on Kickstarter

#17

Post by sorbus »

dawie wrote: post #10
maxawaytoolong wrote: post #6

Earlier quoted context omitted.

The pledges are actually orders for the watches.

Depends on what you pledged. You basically paying for the opportunity to pre-order at the price they want...

Only if you pledge less than $25, which is just supporting the project. Anything more is considered a pre-order, and gets you one of the watch variants. Of the 13510 backers, only 128 pledged in the <25$ bracket - so less than 1% are merely paying for the opportunity to pre-order, as you put it.
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