Quirky

For other uses, see Quirky (disambiguation).
Quirky Inc.
Type Private
Dissolved September 22, 2015 (2015-09-22)
(Filed for Chapter 11 Bankruptcy)
Headquarters New York City
Key people Ed Kremer (CEO)
Subsidiaries Undercurrent
Slogan(s) We Make Invention Accessible
Website www.quirky.com
Registration Optional
Users 1,130,000
Available in English
Launched June 2009 (2009-06)
Current status Inactive

Quirky was an invention platform that connects inventors with companies that specialized in a specific product category.[1] Partners included General Electric, Mattel, Harman and PepsiCo.

History

Quirky was founded in 2009 by Ben Kaufman.[2]

In April 2010, Quirky received $6.5 million in Series A venture capital funding, led by RRE Ventures.[3] The company later received a $16 million Series B round in August 2011 led by Norwest Venture Partners, and a $68 million Series C round in September 2012 led by Andreessen Horowitz and Kleiner Perkins Caufield & Byers.[4] Then, in November 2013, Quirky raised $79 million in Series D funding from GE as well as its venture investors Andreessen Horowitz, Norwest Venture Partners, RRE and Kleiner Perkins Caufield & Byers.[5] Part of the deal extends a partnership that Quirky and GE struck earlier this year, with GE now putting $30 million into the funding round and committing to build 30 connected-home gadgets together in the next five years.[6]

In 2011, a reality television series named Quirky debuted on the Sundance Channel following events at the Quirky office.[7]

On July 31, 2015, Ben Kaufman stepped down as CEO of Quirky following a layoff of 111 employees due to trouble getting funding.[8][9][10][11][12]

On September 22, 2015, the company filed for Chapter 11 bankruptcy.[13][14]

See also

References

  1. ↑ "About". Quirky. 3 June 2014.
  2. ↑ "AdWeek". Quirky. 3 June 2014.
  3. ↑ Quirky's 23-year-old CEO finds love with the supply chain, Paul Boutin, VentureBeat, April 27, 2010
  4. ↑ Fenn, Donna (September 7, 2012). "Quirky Gets Backing From Andreessen Horowitz and Kleiner Perkins". New York Times. Retrieved October 17, 2012.
  5. ↑ Gannes, Liz (November 13, 2013). "Quirky Raises $79M, Including $30M From GE to Make Connected-Home Gadgets". All Things Digital.
  6. ↑ Stinson, Liz (November 19, 2013). "Quirky and GE Partner to Conquer the Internet of Things". Wired.
  7. ↑ Associated Press, "Startup Quirky brings people's ideas to life", Japan Times, 28 August 2011, p. 5.
  8. ↑ D'Onfro, Jillian (1 August 2015). "The CEO of New York startup Quirky steps down in the wake of lay-offs and funding struggles". Business Insider.
  9. ↑ Diana, Chelsea (3 August 2015). "Quirky founder Ben Kaufman steps down as CEO". New York Business Journal.
  10. ↑ Alois, JD (3 August 2015). "Quirky CEO Ben Kaufman Out. Replaced by CFO Ed Kremer". Crowdfunding Insider.
  11. ↑ Pastore, Rose (3 August 2015). "Quirky CEO Ben Kaufman Steps Down".
  12. ↑ Crist, Ry (2 August 2015). "Quirky's Ben Kaufman steps down as CEO".
  13. ↑ Gleason, Stephen (22 September 2015). "Invention Startup Quirky Files for Bankruptcy". The Wall Street Journal.
  14. ↑ Lohr, Steve (22 September 2015). "Quirky, an Invention Start-Up, Files for Bankruptcy". The New York Times.

External links


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