It all started back in 2016 when Ossic launched a campaign to raise funds for their new high-end headphones, Ossic X, which were marketed as a revolutionary concept perfect for Virtual Reality and 3D audio. With more than 22,000 pre-orders, the company was expected to enter mass production in spring 2018. When the time came they released a statement on their website informing that they were unable to keep their project alive, stating financial reasons as the main reason for deciding to shut the business down:
“To fail at the 5 yard-line is a tragedy. We are extremely sorry that we cannot deliver your product and want you to know that the team has done everything possible including investing our own savings and working without salary to exhaust all possibilities.”
In spite of the letter of apology, backers who supported the idea are extremely upset about the outcome, to the point that they are considering filing a class-action lawsuit against the company. So, next time you decide to contribute to an innovative idea, be aware that there’s always a risk.
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