How A Light Bulb Raised $1.3 Million On Kickstarter In 6 Days

 

 

 

 

 

 

” In 1879 Thomas Edison patented the incandescent light bulb. Over the next hundred years the light bulb largely remained unchanged. It was inefficient and it used an excessive amount of energy. Thanks to Phil Bosua and the team behind LIFX that’s all changed. LIFX is a Wi-Fi enabled, multi-color, LED light bulb that’s controlled by your smartphone. LIFX was launched on Kickstarter in October of 2012 and raised $1.3 million in just six days.

Here’s how it happened (from founder Phil Bosua):

Q: What were your business goals and objectives for your Kickstarter campaign?
A: The goal of our Kickstarter campaign was to first find out if people liked the idea. We really wanted to know if it resonated before we built it. Secondly, the pledges help fund your first production run so the money we raised was a big part of it.

Q: Why did you decide to seek funding on Kickstarter as opposed to seeking funding from investors or other more traditional sources?
A: I was only just becoming aware of the more traditional sources of funding. We’re from Australia and we don’t have the same well-worn paths to investment that exist in the US so Kickstarter was the only real choice.

Q: Why did you choose Kickstarter over other crowdfunding platforms?
A: Kickstarter was the best crowdfunding platform at the time and with such an engaged user base we thought it would be a perfect way to find out if people liked LIFX.

Q: Many crowdfunding campaigns have difficulty gaining traction. Did you do any marketing or promotion to draw more traffic to your campaign?
A: We didn’t use any marketing or PR for the Kickstarter project, not even one out bound email. This was a conscious decision. Early on I remember saying that all the effort we were going to put into PR and marketing should be put that into the Kickstarter project itself. If the product and the project was good enough, people would back it on its own merits.”

 

 

 

What is LIFX?

” LIFX is the smartest light bulb you’ve ever experienced. It’s a wifi-enabled, energy efficient, multi-colored bulb that you control with your iPhone or Android. LIFX gives you unprecedented control of your lights, reduces your energy costs, lasts up to 25 years and delivers an amazing range of experiences we think you’ll love.

  LIFX is incredibly easy to set-up. Simply replace your existing bulbs with LIFX smartbulbs, download and install our free app from the App Store or Google Play and you’re good to go.”

 

 

 

 

   Read the rest of the interview here and learn more about this revolutionary new light bulb that can change color and last 25 years at the company’s website .

 

 

 

 

 

 

 

The Lightbulb Reinvented

” LIFX® is a wifi enabled, multi-color, energy efficient LED light bulb that you can control with your smartphone.

  With LIFX there is no need for electricians or complicated control boxes. Just replace your existing bulbs with LIFX bulbs. The LEDs in LIFX bulbs are also rated to last up to 40,000 hours. That’s 27 years at 4 hours use per day, so sit back and relax.”

 

 

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