Qknives, a Danish company known for making top-quality kitchen knives, has suffered a huge loss of more than $140,000 on Kickstarter. At the beginning of February, the company decided to introduce its brand-new knife series on the site to raise funds. The campaign became a success, receiving more than $68,500 in donations within a span of two days. The campaign continued its run and was well-received by funders. On March 9, 587 of those supporters pledged to get the knife series, raising a whopping amount of $147,000 in just one month.
However, as the campaign was inching closer to its finish line, Qknives received a notification from Kickstarter’s trust and safety team. According to them, the campaign will be immediately removed from their website due to a violation of their reseller policy. The allegation came from their discovery of the company’s Danish website showing the knives series. This was considered to be a breach of that particular guideline. Of course, this also meant that the company lost the pledged amount.
The rescue plan
Despite the fact that Qknives has complete ownership of the entire knife design, Kickstarter didn’t offer a chance to appeal the termination. We tried to contact the Kickstarter team to get a clear statement regarding the suspension of the campaign from their website. However, as of the time of writing this article, we have not received a response from them.
After suffering a huge loss of more than $140,000, Qknives began to think of other backup strategies to recover the funds and bring back the supporters. The company started approaching other popular crowdfunding platforms to obtain permission to resume its campaign. Finally, Qknives was able to collaborate with Indiegogo and signed an agreement to move the campaign to the new platform.
By teaming up with Indiegogo, Qknives was able to get its campaigning back on track. More importantly, it was able to gain back the majority of the raised funds and its supporters. At the moment, the company has already raised more than $100,000 from the platform and will hope to increase the numbers to at least equal or exceed the amount that they lost during the Kickstarter campaign.
Photo credits: The images used are owned by Qknives and have been provided for press usage.
Source: PR Newswire