Overview

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Status
Quirky has been closed
Total Equity Funding
$175.33M in 7 Rounds from 11 Investors
Headquarters:
New York, NY
Description:
Quirky brings new consumer products to market by enabling interaction between the online global community and Quirky’s product design staff.
Founders:
Categories:
Crowdsourcing, E-Commerce, Marketplace
Website:
http://www.quirky.com
Social:

Company Details

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Launched in 2009, Quirky is a new type of socially developed product company founded with the vision of making invention accessible. Quirky’s community members, inventors and product “influencers,” ultimately share its financial success with them. Headquartered in New York City, Quirky brings game-changing products to the marketplace through interaction between its active online global community and Quirky’s expert product design staff, bringing to life ideas from their earliest stages to store shelves.

Quirky was founded by Ben Kaufman, who is also the company’s CEO. Quirky is Kaufman’s third entrepreneurial venture. He previously founded Mophie and Kluster. Kaufman founded Quirky on the belief that ordinary people have extraordinary ideas, and that invention should be accessible to everyone.

Any of Quirky’s community members can become an inventor or influencer by submitting ideas and helping to determine which products Quirky will design, manufacture, and sell. Inventors who submit ideas that are then created and influencers who contribute to those ideas share in royalties based on product sales.

The company solicits ideas for new products via Quirky.com and its iPhone app. Once an idea is submitted, the Quirky community vets it, praises it, critiques it, and votes for their favorites, many of which will eventually be made by the Quirky design team and sold online and in stores.

A prospective inventor can submit an idea to Quirky, and there is no limit on the number of invention ideas that a person can submit. When determining which products to make, Quirky considers factors such as uniqueness, manufacturing complexity, and intellectual property rights, yet they are committed to working on ideas both big and small that make life better.

Funding Rounds (8) - $185.33M

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DateAmount / RoundValuationLead InvestorInvestors
Dec, 2014$10M / Debt Financing0
Nov, 2013$79M / Series D5
Sep, 2012$68M / Series C2
Aug, 2011$16M / Series B2
May, 2011$5M / Venture0
Apr, 2010$6M / Series A4
Dec, 2009$1.33M / Venture1
Jul, 2006undisclosed amount / Venture6

Products (4)

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  • Aros is a smart AC unit developed by Quirky in partnership with GE. The product pairs to the user's smartphone that allows users to set a
  • A small dashboard that you can use to give you information such as Time, Email, Calendar, Traffic, Weather, Etc.
  • Porkfolio is the world’s smartest piggy bank. It wirelessly connects to an app on your mobile device so you can track your balance and set f
  • A meter that you put under your grill's propane tank and it sends the information to the Wink application on any smartphone.

Competitors (2)

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  • Genius Crowds is a platform for individuals to publish their product ideas and commercialize them in retail markets.
  • RocketHub is an online crowdfunding platform where users post campaigns to raise funds and awareness for projects and endeavors.

Offices/Locations (1)

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  • World Headquarters

    606 West 28th Street

    7th Floor

    New York, NY 10012

    USA

Past Event Appearances (2)

Images (1)

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