#kreyos

New Post has been published on http://www.cellularelectronicsoutlet.com/suspect-indiegogo-user-never-delivers-his-product-but-is-spotted-in-a-new-ferrari/

Suspect: Indiegogo User Never Delivers His Product But Is Spotted In A New Ferrari

While crowdfunding sites like IndieGoGo and Kickstarter can be great ways for entrepreneurs to fund their businesses, there’s a sort of inherent honor system that has to be respected.

Sort of like Craigslist, but without the killers (hopefully).

For some, these sites can be an enormous help, even in weird situations. Remember the potato salad guy?

But, it seems like the days of trustworthy usage of the sites may be over, thanks to Kreyos.

Here’s the story. Back in July 2013, Kreyos, a company founded by Steven Tan, launched an IndieGoGo campaign to raise enough funds to create a “smart watch.”

The initial goal of $100,000 was surpassed, and the campaign ended up raising a whopping $1.5 million.

Customers who helped fund the watch’s creation were supposed to get their gadgets in November of that year.

Instead, they didn’t receive them until July of this year, and the watches they did receive were not what they were initially promised.

Here’s where the scandal comes in. The founder of Kreyos recently posted a host of pictures to his Facebook page, showing him posing with his new Ferrari in one, and surrounded by a pile of designer shopping bags in another.

It appears he took the profits from the campaign, built a bunch of crap watches and kept the rest of the money for himself.

Though Tan claims the incriminating photos are from 2010, it remains unclear where, exactly, the funds went, if not to constructing the watches Kreyos promised their customers.

What is clear is this: The policies of these crowdfunding sites must be changed to protect users from scams.

H/T: Yahoo! News, Photo Courtesy: Facebook/Yahoo

Kreyos Smart Watch Review – Tech Thursday

Kreyos Smart Watch, A Full Smart Watch For Under $100?

The Kreyos Smart Watch was a massive success on their Indiegogo campaign, raising a total of $1,500,764, which was 1,501% over their intended goal of $100,000. The Indiegogo campaign ran from the 23rd June to the 12th August 2013.

Kreyos Smart Watch © Kreyos

The Kreyos smart watches specification for a smart watch, bearing in mind that this…

KREYOS: The ONLY Smartwatch With Voice & Gesture Control

日々のアクティビティを計測

カレンダー 、カウントダウンタイマー、スポーツモード対応 - ウォーキング計測、ランニング＆サイクリング計測、世界時計

アナログディスプレイ、デジタル表示、マルチサイレント振動アラーム

そのほかに、モーションコントロールが内蔵されているので、3軸ジャイロスコープを使用して、ジェスチャーコントロールできます。

Turn off the lights – they’re outta here.

Be careful who you back on those crowd funding sites!

After back-pedaling for several months and giving excuse after excuse for delayed shipments of their Meteor smart watch – and their CEO’s infamous Italian Ferrari scandal – Kreyos has apparently thrown in the towel.

Founder and CEO of Kreyos, Steve Tan, explained to his bewildered customers in a Medium blog post that the company is shutting down, effective immediately.

In his memo, Tan admitted that he was in way over his head from the beginning, but also places all of the blame squarely on the shoulders of a key manufacturer for the company’s troubles.

To quote Tan,

I was too naive to see the red flags for two full years. I believed blindly on faith alone and gave almost all your money to someone whom I barely knew. I had no knowledge or experience of what I was doing, other than promoting it. I’m sorry that I lost all your money by making poor choices and wrong decisions, but it’s not my fault… my partner deceived me!

…a certain solutions company — VIEWCOOPER CORP and its CEO Pro Yang who, ultimately perpetrated an intricate conspiracy against Kreyos.

In his “internet affadavit, Tan says that Pro Yang took $844,000 in profits from the total $1.6 mm spent on manufacturing the defective watches.

Tan also claims to have lost a lot of his own money in the company’s failure – he mentions that he invested $370,000 of his own money into Kreyos.

During the past few months, we received several emails from disgruntled customers claiming to have been defrauded by Kreyos. We looked into the matter but concluded the company was late, yes, but the CEO did not appear to be a scam artist to us (and that Ferrari picture was taken in Italy on a vacation before Kreyos was founded).

The Rise and Fall of Kreyos

In August I finally received my Kreyos Meteor Smartwatch + £30 custom charges that I had to pay to receive it.  This wearable device was the first of it’s kind before Android started to promote it’s own wear operating system. It was promoted as being the first fully waterproof smartwatch that would accept voice and gesture commands. Many tech editorial websites covered the unveiling of this new…

#Kreyos Meteor Review

A year ago, I was extremely psyched about the Kreyos Meteor smartwatch. It had a lot of great features that made it more than just a wrist notification device, which most of the smartwatches on the market at the time were. Kreyos claimed they had a working prototype and basically just needed the cash to put it into production. The features, and claimed timeline sold me so I went ahead and backed…