– DESCRIPTION OF THE PRODUCT
Geek Wave is one of the most recent successful product growing on IndieGogo. It is a “no-compromise Portable Music Player”, as advertised on its campaign. It is a well designed device for listening music with high resolution potentials, small, light, for who prefers having a Hi-Fi always on his pocket. Definitely a captivating product, almost 10 times stronger than an Ipod.
– GOAL OF THE CROWDFUND
The goal of the crowdfund is mainly to “pre-sell” the product and lunch it at the end of the campaign. The crowd can choose from a symbolic donation of 1$ to a proper pre-order of 128 units for the price of 4.420$. In addition, since the campaign has been an incredible success – $978,796USD raised, 2.576% of the primary goal – the producers are also developing extra devices for a complete music experience.
– ACCESSIBILITY OF THE PRODUCT
Geew Wave (and the complementary stations) are a classic example of a very clear kind of product. Very often crowdfund campaigns lack of clearness about the real nature of the product or the final goal of the campaign on itself. On the contrary, this product is very well advertised and the potential investors can spontaneously understand if they are interested or not. The market is a very competitive market, with big giants controlling it, even if the real funs of music are always looking for higher quality.
– LEVEL OF CO-CREATION
What really strike observing this crowfunding, it is the quality of the community integration. The founders managed to build an efficient system to communicate with the pledges, listen their observation and modify the product accordingly their preferences. The investors are real co-creator, discussing with the designers the technical potential or alternatives of the products. Geek Wave is not only a successful crowdfund, indeed is also a brilliant community creation where the pledges are raising their familiarity with the brand, their trust, and their support to this company.
– OVERALL REVIEW – Grade 9/10
Following the Geek Wave campaign, interacting with other investors, it comes clear to the mind the reason of the incredible success of this crowdfund that raised 1 million $ in only one month. A clear product, a clear goal, and the elasticity to improve it following the preferences of the investors. A deserved 9 over 10.
UPDATE: the campaign finished on July 12, $1,321,851 raised.