SOFTWARE DEVELOPER Canonical has failed to raise $32 million to build its Ubuntu Edge smartphone.
The British firm turned to crowdfunding to finance its phone development plans, and asked Indiegogo users to help it out.
It set a high target of $32m and quickly raised $1m. The next total it hit was a record $10.2m, but since then things slowed down.
Now the funding period is over and the Ubuntu Edge phone is about $20m shy of its target.
Anyone that kicked in will get their money back in less than a week according to Canonical CTO Mark Shuttleworth, and everyone at Canonical is sad.
"So ends a crazy month. We've broken records, we've been written and talked about across the world, we've worn out our F5 keys, and we've learned a lot of invaluable lessons about crowdfunding. Our bold campaign to build a visionary new device ultimately fell short, but we can take away so many positives," he wrote.
"The big winner from this campaign is Ubuntu. While we passionately wanted to build the Edge to showcase Ubuntu on phones, the support and attention it received will still be a huge boost as other Ubuntu phones start to arrive in 2014. Thousands of you clearly want to own an Ubuntu phone and believe in our vision of convergence, and rest assured you won't have much longer to wait."
The firm tried hard to push investment in the last couple of days and had a burst of interest in the final hours. However, despite securing some funding and at least one enterprise customer, it raised only $12,809,906 of the $32m target. µ
Plus the cost of ambition as moonshots eat into the coffers
Spoiler alert: it's probably VeriSign
Did we say cuts off? We meant traps them inside their own home