Aug 31, 2016 - 05:15 PM UTC — AAPL: 106.10 (+0.10, +0.09%) | NASDAQ: 5213.22 (-9.77, -0.19%)
“Josh Guyot knew he had a hit on his hands. He’d created an elegant, inexpensive device that turned iPhones into remote-controlled robotic video machines–and used Kickstarter, the ubiquitous online crowdfunding platform, to raise startup capital,” Steven Rosenbaum reports for Forbes. “Within three and a half days he and partner JoeBen Bevirt had hit their $100,000 goal; by the time their campaign ended a month later their company, Motrr, had raised a staggering $702,427.”
“‘That was a great confirmation that people really were interested,’ says Guyot,” Rosenbaum reports. “The plans went out to an assembly plant in southern China that Bevirt had engaged for an earlier project to make tripods for iPhones. At that point they had more than $500,000 in back orders from 5,200-plus early funders.”
Rosenbaum reports, “Guyot’s story begins, as so many entrepreneurs’ do, in college…”
Read more in the full article here.