Honeywell Crowdfunding Bombs

By John Honovich, Published Nov 08, 2017, 07:58am EST

100,000+ employees and $40,000,000,000 in annual revenue. That's Honeywell.

~200 backers and ~$67,000 in funding in a week. That's Honeywell crowdfunding campaign for its 'smart home security system.'

It is a dealer-angering dud.

But we see some upside.

Why Bombing?

Two reasons:

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********, ************ ******** / excitement ** ****** ******* startups - *** ****** guy - *********** *************. ******** ****** *********'* campaign '* ****** *****'. *** ***** ****** it '********'. ****** ***** *** Honeywell, ****** *** *** PR ******** *** ***** magazines Honeywell ****.

******* *******

***** ********* *** ************ ignoring **, ******* *** not *******, ** *** the *****.

*** ******** *** **** significant, ********** ********* ***** ****** ***** groups, ******** ********* ** '******** their *******', '******* ***', 'steal[ing] *** ********', '********' 'junk', '****' *** ****. Here *** ******** **** a *** *********** ** Honeywell's *** ******:

 

The ******

*** ****** *****, ** us, ** **** *** offering, ** *****, *** some ********** ********** **** existing ********** ******* (*** ****'* ****** ** ********* Indiegogo-Funded *** ********* ******). **********, *** ******** still *** * ******.

** ** ***** ********* ****** ************. They **** ******* *********. Do *** ** **** again.

Update ***** ***** $**** *******

***** ** **** **** of *******, *** ******** ended **** * ***** of $***,*** *** *********.

Comments (3)

I suspect their motivation was quickly gauging interest and gathering feedback from the "leading edge" end user crowd more so than obtaining funding.  As you pointed out Honeywell has plenty of revenue to self fund the development.  Their target of $50K would presumably only fund a few % of the development costs.

I'll give the big lumbering company some credit for being nimble in this voice-of-customer gathering activity.  Rather than pay for a market research firm's 6 month engagement, they probably spent a month creating Indiegogo content and monitoring funding.  That being said, I sure wouldn't use this as my only voice-of-customer activity.

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I’ve been getting a ton of Honeywell/ADT robo-calls. SUPER annoying. 

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As I mentioned in a previous post.

Crowdfounding and check people reaction while you earn 67kUSD (peanuts for them) against spending 50kUSD for a marketing research company globally... I think it is smart.

On the other hand, if integrators really think it will hit their market... That's weird.

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