28 August 2013
To all Cardboard Bike supporters:
In a previous email on July 15th we committed to returning contributions to our crowd-funding campaign, and we wanted to give you an update on where we are in this process.
During the course of the next few days, Cardboard Technologies will receive the contributed funds from Indiegogo, and will begin the refund process directly to those contributors who wish to receive a refund.
Please note that there are some procedural and regulatory issues that are country specific, so you should expect to receive a personal follow up email from us in the coming days requesting relevant details from you that will enable us to process your refund in a quick and efficient manner.
Again, we thank you for your support (and your patience).
The Cardboard Team
Cardboard Technologies has decided to stop our Indiegogo crowdfunding campaign.
We embarked on our crowdfunding campaign with the aim of incorporating you, our supporters, in the cardboard revolution and in helping us to raise the funds needed to build our first factory. We learned that, without a production facility in place, we were not able to provide you with a truly affordable bike within a reasonable period of time. We have therefore partnered with equity investors to build our first production facility.
We are closing our campaign, 25 days before due time. We will issue a refund to all who so generously contributed to our campaign and we hope they will continue to support us as Ambassadors and in focus groups. As a token of our appreciation, we will grant each of contributors our products, bikes or other rewards at our expense.
We listened to you, our greatest supporters, and will re-open our Indiegogo campaign once the factory is up and running and can offer lower prices and a three-month delivery time. That is the beauty of crowdfunding.
Thank you for your support! We hope we can turn to you for your help again in the future.