Holy moly, wow, no?! ! I just didn’t know what to think when I stumbled across this Fortune video: ‘The company’s CEO Ben Kaufman sits down with Fortune Editor Alan Murray to explain why Quirky’s business model didn’t allow the innovation platform to succeed.’
Quirky failed? How could that be?
Ben has been the bold and eminently likeable poster child for innovation, entrepreneurship and commercialization – helping bring inventors’ dreams to life for six years. In fact, just the other day I saw some Quirky plug/wire organizer thingamajigs at TJ Maxx and smiled to myself. Cool, I thought. Ben was someone I invited to keynote a conference (though logistics didn’t work out); I was glad to see the Quirky label in a popular store.
So when I saw that Quirky, the company, failed, I was both stunned and bummed. After watching the video, it makes more sense. Check it out:
While the combination of razor thin margins and price perception/limitations of the Quirky brand is tough, I still believe there are ways to do what Quirky attempted. And I am certain that Ben Kaufman, like all resilient entrepreneurs, will get back on the horse and succeed.
As for Quirky, I wish I knew what the better business model would be. Its absence leaves an important void to fill. What do you think?