IPVMU Certified / IPVM Admin | 08/11/14 03:49pm
They claim their idea is the 'World's Simplest and Most Affordable' Intrusion Alarm System, but at this point, that's all it is: an idea.
Korner recently held a successful crowdfunding campaign that committed over $400k for an alarm system that will cost endusers ~$100 to install and about $35/year to monitor.
Now the company is trying to raise millions more in a subsequent campaign, while still months away from shipping any product. In an 'invite-only' fundable.com campaign, the company is trying to attract another round of private investment.
The 'pre-money valuation' of $6,000,000 caught our eye:
Keep in mind, this is a valuation for a company that has not produced any hardware and shipped no product.
Some point to this as just another example of the VC tech-investment bubble that currently is poised to rupture.
In any case, what is your take on this?