San Rafael, CA, June 29, 2012 --(PR.com
)-- According to Brad Hunter, "We were very encouraged by the support we received and have every intention of getting this product out to the tech community. After the initial release on Kickstarter, we learned what type of pledge funding we would receive and were able to significantly lower our target for fund raising and still meet costs for distribution."
Kickstarter works on a pledge based system where people who want to support a project will make a pledge in exchange for some kind of reward. The idea is to create a funding source for upstart projects through many small investors who do not get a portion of the company, but rather a token of some sort. Brad also mentions the type of reward most pledges selected were special release versions of the actual product.
According to Brad "We had originally guessed that a great deal of our pledges would include the token t-shirt or other materials we would have to purchase from another vendor and that the funds raised toward the actual USB Variable Power Supply would be a fraction of what it turned out to be. This whole process has been a learning experience and we are happy to have the support and a better understanding of what our community is interested in. Most of our pledges were for a special version of the actual device and this means most of the pledge money is available for our start into the market. This has also given us the insight for our re-launch allowing us to set the minimum funding target to a critical break even point without concern for a significant cushion as we had done before."
The news for Etonnet today is that they will probably reach their minimum funding goal without any issue this time as there is less than $200 dollars left to raise at the time of this writing. Etonnet representative Mike Zhao also added "We are very excited and will definitely be using this avenue for starting and developing more products in the future."
The re-launched product is on Kickstarter and titled "USB Variable Power Supply for Small Projects - ReLaunch."