Close Menu
  • English
  • Featured
    • AI & Robotics
    • Energy
    • Finance
    • Leisure
    • Science
    • Security
    • Sustainable Development
    • Tech
    • Transport
  • About Us
  • Advertising
  • Contact Us

Subscribe to Our Newsletter

News, investigations, and analysis — our top stories every morning to start your day right.

Trending
Illustration of Sony's strategic approach in the gaming industry and its position with the PlayStation 5. Image generated by AI.
“We Have a Different Strategy”: Sony Breaks Silence on PS5 Vs Switch 2 Debate With a Cold Dose of Corporate Reality
Illustration of the anticipated enhanced version of Red Dead Redemption II for next-gen consoles. Image generated by AI.
“I Just Got Some Very Exciting News”: Red Dead Redemption Voice Actor Hints at Upgraded Version That Could Drop Any Moment
Illustration of iPhone displaying animated full-screen music covers on the lock screen. Image generated by AI.
Spotify Users Stunned: iPhone Owners Rejoice as This Mind-Blowing New Feature Revolutionizes Your Music Experience and Leaves Rivals in the Dust
Facebook X (Twitter) LinkedIn RSS
Rude Baguette
Facebook X (Twitter) RSS
Newsletter
  • Featured
  • AI
    Illustration of the Figure 02 robot demonstrating advanced package sorting skills. Image generated by AI.

    “Robots Are Taking Over”: This Groundbreaking Video Shows Figure 02 Robot Mastering Human-Like Package Sorting Skills with Precision and Speed

    June 19, 2025 at 11:49 AM
    Illustration of the dual-mode robot ATOM showcasing its ability to both fly and roll. Image generated by AI.

    “Flies and Rolls on Two Actuators”: Scientists Build Shape-Shifting Robot That Defies Mobility Engineering Norms

    June 19, 2025 at 10:10 AM
    Illustration of 1X Technologies' humanoid robot NEO performing household tasks autonomously. Image generated by AI.

    This Sweater-Clad Robot Just Got a Brain Boost and Can Now Cook and Clean Solo Like a Real Domestic Assistant

    June 19, 2025 at 8:14 AM
    Illustration of artificial intelligence organizing information like human cognition. Image generated by AI.

    “AI Thinks Like Us Now”: Chinese Study Unveils Stunning Evidence of AI Mimicking Human Brain’s Sorting Abilities

    June 19, 2025 at 7:06 AM
    Illustration of the EngineAI RL Workspace platform for humanoid and legged robot development. Image generated by AI.

    “China’s Humanoids Are Coming In Your Home”: This Robotic Breakthrough From Beijing Just Changed the Future of American Tech Forever

    June 18, 2025 at 3:54 PM
  • Energy
    Illustration of fiber-based cooling technology managing heat in data centers. Image generated by AI.

    “Coldest AI Centers Ever”: This Passive Cooling Tech Just Smashed Temperature Records and Could Save Billions in Data Power Costs

    June 18, 2025 at 5:11 PM
    Illustration of the transformative potential of Ruddlesden-Popper perovskites in renewable energy and optoelectronics. Image generated by AI.

    Shapeshifting Perovskites Unleashed as Researchers Reveal Game-Changing Material That Supercharges Solar Devices and LED Efficiency

    June 18, 2025 at 8:54 AM
    Illustration of the innovative process by MIT researchers to produce hydrogen using recycled soda cans and seawater. Image generated by AI.

    From Soda to Superfuel: Researchers Use Coca-Cola and Ocean Water to Produce Clean Hydrogen for the Future of Mobility

    June 13, 2025 at 8:11 AM
    Illustration of China's Hualong-1 nuclear reactor and its impact on global energy dynamics. Image generated by AI.

    “France on the Brink”: China’s Nuclear Reactor Threatens to Wipe Out the Last Stronghold of French Economic Power

    June 12, 2025 at 4:05 PM
    Illustration of a groundbreaking electrochemical reactor for lithium extraction and its impact on sustainable technology. Image generated by AI.

    “U.S. Uncovers Rare Earth Bombshell”: This Shocking Discovery Could Flip the Global Tech Supply Chain on Its Head

    June 12, 2025 at 8:04 AM
  • Finance
    Illustration of James Howells searching for his lost Bitcoin hard drive in a landfill. Image generated by AI.

    “He’s Still Digging”: Man Who Lost $700 Million in Bitcoin 12 Years Ago in a Dump Faces Stunning New Twist in His Hunt

    June 13, 2025 at 9:05 AM
    Illustration of a lost hard drive containing 8,000 Bitcoins buried in a landfill. Image generated by AI.

    He Just Gave Up €200 Million in Bitcoin: After 12 Years of Digging Through Trash, the Lost Hard Drive Is Gone for Good

    May 30, 2025 at 7:14 AM
    Illustration of a man sleeping with black tape over his lips. Image generated by AI.

    “Doctors Sound the Alarm”: Viral Mouth Taping Trend Called Dangerous and Completely Unproven by Leading Medical Experts

    May 25, 2025 at 8:02 AM
    Illustration of Visa's integration of AI systems into digital payments (AI-generated, non-realistic illustration). Credit: Ideogram.

    Visa’s AI Is Now Shopping for You: This Robot May Soon Swipe Your Card Automatically—and Mess With Your Mind

    May 4, 2025 at 8:07 AM
    Microsoft Strikes Unprecedented Deal: World's Largest CO2 Removal at 7.44 Million Tons, Setting New Environmental Milestone

    “Microsoft Strikes Historic Climate Deal”: World’s Largest CO2 Removal Pact Targets 6.75 Million Tons in Unmatched Green Push

    April 19, 2025 at 9:55 AM
  • Leisure
    Illustration of the anticipated enhanced version of Red Dead Redemption II for next-gen consoles. Image generated by AI.

    “I Just Got Some Very Exciting News”: Red Dead Redemption Voice Actor Hints at Upgraded Version That Could Drop Any Moment

    June 21, 2025 at 3:45 PM
    Illustration of a player photographing a pug in Los Santos for the GTA Online animal photography challenge. Image generated by AI.

    “Found It After Hours of Searching”: Exact GTA Online Location Revealed for the Pug Dog Photo Challenge Everyone Misses

    June 21, 2025 at 6:54 AM
    Illustration of creative methods for sharing wealth in GTA Online. Image generated by AI.

    “Stop Wasting Millions Alone”: This Proven GTA Online Method Lets You Instantly Give Cash to Any Friend Without Risks

    June 21, 2025 at 5:50 AM
    Illustration of the Lynel Mask from The Legend of Zelda: Tears of the Kingdom. Image generated by AI.

    “The Lynel Mask Is Real”: Here’s How to Unlock This Legendary Headgear in Zelda Tears of the Kingdom Right Now

    June 20, 2025 at 4:47 PM
    Illustration of Emma Stone's journey from a young Hollywood newcomer to a multiple Oscar-winning actress. Image generated by AI.

    “She Started 20 Years Ago”: This Hollywood Icon Has Taken the World by Storm with 2 Oscars and Unstoppable Stardom

    June 20, 2025 at 9:07 AM
  • Science
    Illustration of the International Space Station in orbit with Earth in the background. Image generated by AI.

    “Elon Musk Plans Space Station’s Fall”: Shocking Timeline Revealed for ISS Deorbit as SpaceX Pushes Urgency to the Limit

    June 21, 2025 at 9:08 AM
    Illustration of India's groundbreaking advancement in quantum secure communication using quantum entanglement. Image generated by AI.

    “India Enters the Quantum Age”: Historic Breakthrough in Free-Space Secure Communication Signals Tech Superpower Rise

    June 20, 2025 at 9:51 AM
    Illustration of space-time as a memory system storing information from cosmic interactions. Image generated by AI.

    “Space-Time Has Memory”: Radical New Theory Suggests the Universe Remembers, Shaking the Foundations of Cosmology

    June 20, 2025 at 7:10 AM
    Illustration of Proba-3 creating an artificial solar eclipse to capture images of the Sun’s corona. Image generated by AI.

    “Artificial Eclipse Reveals Solar Secrets”: Orbiting Shield Gives Scientists Closest-Ever Glimpse of the Sun’s Corona

    June 19, 2025 at 5:01 PM
    Illustration of SpaceX's Falcon 9 rocket and Crew Dragon at Launch Complex-39A for the Ax-4 mission. Image generated by AI.

    “June 19 Launch Confirmed”: SpaceX and NASA Greenlight Ax-4 Private Astronaut Mission After ISS Leak Repairs Complete

    June 18, 2025 at 11:45 AM
  • Security
    Illustration of a Chinese satellite capable of identifying human faces from over 62 miles away. Image generated by AI.

    “China Can See Your Face From Space”: New Spy Satellite Sparks Global Alarm With Its Unprecedented Orbital Surveillance Power

    June 10, 2025 at 3:53 PM
    Illustration of the F-15E Strike Eagle equipped with APKWS II rockets targeting drones. Image generated by AI.

    “We’ll Swat Them Out of the Sky”: U.S. Air Force Upgrades F-15E With 42 Drone-Killing Rockets in Explosive Power Boost

    May 28, 2025 at 10:00 AM
    Illustration of using Starlink satellites to detect stealth aircraft. Image generated by AI.

    “Elon Musk Cornered by Invisible Threat”: China’s New Tech Can Hijack Starlink Satellites and Unmask Stealth Aircraft

    May 27, 2025 at 12:02 PM
    Illustration of Homeland Security revoking Harvard's foreign student program due to alleged China ties. Image generated by AI.

    U.S. Government Revokes Harvard’s Foreign Student Access After Explosive Findings of Deep Connections to China

    May 26, 2025 at 11:56 AM
    Illustration of a damaged North Korean naval destroyer at launch. Image generated by AI.

    “North Korea’s Warship Launch Fails”: Second Naval Destroyer Suffers Major Damage in Stunning Blow to Kim’s Military Ambitions

    May 25, 2025 at 11:48 AM
  • Impact
    Illustration of Tor Alva, the tallest 3D-printed building in the world. Image generated by AI.

    This 3D-Printed Tower Just Broke a World Record as Tor Alva Rises Higher Than Any Structure Ever Made by a Machine

    June 17, 2025 at 9:49 AM
    Illustration of the Jeddah Economic Company Tower rising as the world's tallest skyscraper. Image generated by AI.

    “Unlimited Saudi Ambition”: World’s Tallest Tower Now Rising at Lightning Speed, Smashing Every Construction Record in Sight

    June 17, 2025 at 8:02 AM
    Illustration of the world's largest 3D construction printer installed at a school site in Doha, Qatar. Image generated by AI.

    Qatar Installs Giant 3D Beast: World’s Largest Construction Printer Could Reshape Cities and Shake Up the Global Building Industry

    June 12, 2025 at 9:52 AM
    Illustration of the Jeddah Economic Company Tower under construction in the Saudi Arabian desert. Image generated by AI.

    “Skyline Will Never Be the Same”: Saudi Arabia’s Tower Surges Past All Records as World’s Tallest Skyscraper Rises in Blinding Speed

    June 8, 2025 at 4:54 PM
    Illustration of the Jeddah Economic Company Tower rising in the Saudi Arabian desert as the future world's tallest skyscraper. Image generated by AI.

    “Tallest Tower Surges Ahead”: Saudi Arabia’s Sky-Piercing Giant Breaks Records as Construction Accelerates Beyond Predictions

    June 7, 2025 at 9:46 AM
  • Tech
    Illustration of Sony's strategic approach in the gaming industry and its position with the PlayStation 5. Image generated by AI.

    “We Have a Different Strategy”: Sony Breaks Silence on PS5 Vs Switch 2 Debate With a Cold Dose of Corporate Reality

    June 21, 2025 at 5:04 PM
    Illustration of iPhone displaying animated full-screen music covers on the lock screen. Image generated by AI.

    Spotify Users Stunned: iPhone Owners Rejoice as This Mind-Blowing New Feature Revolutionizes Your Music Experience and Leaves Rivals in the Dust

    June 21, 2025 at 12:06 PM
    Illustration of the Rise Tower, the world's tallest skyscraper planned for Riyadh's North Pole district. Image generated by AI.

    “World’s Next Giant Rises in the Desert”: Foster and Partners’ Saudi Tower Will Shatter Every Height Record Ever Set

    June 21, 2025 at 9:48 AM
    Illustration of Wikipedia editors resisting AI integration to preserve platform credibility. Image generated by AI.

    “Wikipedia Did What No One Expected”: This Open Platform Just Proved It’s Possible to Fight Back Against Powerful AI Systems

    June 21, 2025 at 8:06 AM
    Illustration of the 500th Falcon rocket launch by SpaceX marking a historic milestone. Image generated by AI.

    “From Garage to Glory”: Elon Musk’s Astounding Throwback After This 500th Falcon Rocket Launch Will Leave Space Enthusiasts in Awe

    June 20, 2025 at 3:54 PM
  • Transport
    Illustration of Renault's strategic shift towards military drone production and electric vehicle innovation. Image generated by AI.

    “Electric Cars Aren’t Selling Anymore”: Renault’s Bold Move Shakes the Market with a Game-Changing Strategy Worth Millions

    June 20, 2025 at 5:55 AM
    Illustration of the Govy AirCab, a revolutionary flying car by GAC Group, designed for urban travel. Image generated by AI.

    “World’s First Flying Car Revolution”: Chinese Firm Launches Stunning 18-Mile Range Vehicle That Defies Gravity and Rewrites Transportation History

    June 19, 2025 at 6:04 AM
    Illustration of a Tesla Model 3 veering off the road and crashing. Image generated by AI.

    “It Just Drove Itself Into the Ditch”: Shocking Tesla Autopilot Crash Caught on Video Sparks Global Safety Alarm

    June 17, 2025 at 4:09 PM
    Illustration of a Cybertruck on autopilot with its driver playing Grand Theft Auto V on a highway. Image generated by AI.

    Shocking Highway Scene as Man Lets His Cybertruck Drive Autonomously While He Plays Grand Theft Auto Behind the Wheel

    June 17, 2025 at 6:00 AM
    Illustration of the UK accelerating plans for autonomous vehicle deployment on public roads. Image generated by AI.

    “UK Hits the Gas on Self-Driving”: Bold National Push Could Make Britain the First to Fully Legalize Autonomous Cars Across All Roads

    June 16, 2025 at 5:51 AM
  • English
Rude Baguette

KissKissBankBank – The startup from Europe­ that got cloned by Kickstarter

Eirwen WilliamsEirwen WilliamsJune 1, 2012 at 1:50 AM0
Share Twitter Facebook LinkedIn Telegram WhatsApp Email Copy Link
Follow Us
Google News
Share
Twitter Facebook LinkedIn WhatsApp Email Copy Link

kisskissbankbankKissKissBankBank is one of the oldest crowdfunding websites in the world. The idea was loosely based on SellABand, who were the first one ever. They started seriously working on the idea 6 months before Kickstarter.

What is crowdfunding?

Crowdfunding comes in four flavors: P2P lending, philanthropy, rewards, and microventure. They are in the most popular one: rewards. The famous example is the design company that designs a cool watch, but doesn’t have the capital to invest in manufacturing, nor the risk appetite. So instead, they allow people to preorder their watch, and prepay. The project only happens if so-and-so much money is raised. So essentially, it’s a pre-sales channel that reduces risk.
Vincent Ricordeau, CEO and co-founder of KissKissBankBank, calmly explains that since they started, 32 competitors sprang up in France, and around 400 of them worldwide.
He says that, although Kickstarter is huge in the US, that’s not necessarily because they’re executing better. Rather, the US has a culture that’s much more adapted to the crowdfunding model, compared to France. He explains: In France, if you’re a professional, and you admit that you need funding, it’s seen as a weakness. He and his team are busy changing this perception, of course!

Technical co-founder or not?

KissKissBankBank, after some early love money, managed to raise €700k in 2009. With that cash in pocket, they realized that the team didn’t have a technical co-founder. So they shopped around for one, but were turned off by the demands of good technical people: 20-30% of equity. The number they had in mind was 10% as a maximum.

Should startups outsource?

Discouraged by this, they made one of the biggest mistakes a startup can make: they outsourced their whole product development!
[A section of the article has been removed]
At the accelerator where I work, the subject of development outsourcing comes up in a regular basis. While KissKissBankBank made the classic mistake – outsourcing without any internal technical knowledge, choosing a development company that never works with startups, and treating the project as one giant project, instead of iterating over many small releases, there are numerous examples of how it can go right.
First of all, you need a technical co-founder. There’s no way around that. Without that, you can neither manage, nor keep a close eye on your outsourcing partner. Second of all, the instinct of large IT companies and web agencies to sweep all the features together into one giant project is the exact opposite of what a startup should be doing: keeping the product development cycle short and lean. While there are development companies that specialize in startups, and are capable of doing that, clearly the company they chose was not able to do this.
Vincent concluded that although [removed] is a great company, it was a poor match for them. Thankfully, they recovered in time from their mistake, and hired two developers as fulltime, internal employees.

Biz model

The traditional model for crowdfunding is to take a percentage from the project owner, and that’s exactly what they do – 5% of it. But they chose not to only have a B2C business model, and added a B2B revenue stream, by coming up with a clever and innovative formula.
Sponsoring comes in two ways: either you pay a lot of money to be a big sponsor, and many eyeballs see your brand. The second model is that you’re only a small sponsor of a big name, and that you use that big name in your own communication constantly. KissKissBankBank pursues that second model, but with a twist. Big-name client Banque Postale also tops up certain projects’ balance! They will match the funds of certain project by 50%. Obviously, this is hugely beneficial for both the project owners as well as the customers. What does BP get out of it? They get to talk about it endlessly! KissKissBankBank even goes so far as to provide the content for the PR messages.

Future

For the future, the first and most important focus is other countries than France. Germany, the UK, the Scandinavian nations, and perhaps Italy and Spain (not much money there at the moment though). They are careful not to overextend themselves, and hire a big team in a new country.
The other high priority is to get more sponsors (read: money)!
When asked about his interest in the other categories of crowdfunding, he expressed some interest in microventures, but cautioned that the French law is not up to it yet, and must be changed, and with the new President being so anti-business, that may not happen any time soon.
As for funding, they are currently funded to the tune of €1.4m, which allows them to move forward and keep building their community. He plans to start a new and bigger round of VC money in early 2013 at the earliest.

Conclusion

Several conclusions: first of all, Silicon Valley clones ideas from Europe and doesn’t get called on it! Second, crowdfunding is a fast growing field, that has huge untapped potential in France. Third, don’t do a startup without a technical co-founder! And last of not least, go check out KissKissBankBank, their platform is pretty cool.

Did you like it? 4.4/5 (28)

Subscribe to Our Newsletter

News, investigations, and analysis — our top stories every morning to start your day right.

crowdfunding Kickstarter The Sharing Economy
Follow on Google News Follow on X (Twitter)
Share. Facebook Twitter LinkedIn Telegram WhatsApp Email Copy Link
Previous ArticleThe Importance of Intellectual Property Protection
Next Article Registration Now Open for First Ever "Hack Days Transilien"
Related Posts
Illustration of Sony's strategic approach in the gaming industry and its position with the PlayStation 5. Image generated by AI.

“We Have a Different Strategy”: Sony Breaks Silence on PS5 Vs Switch 2 Debate With a Cold Dose of Corporate Reality

Illustration of iPhone displaying animated full-screen music covers on the lock screen. Image generated by AI.

Spotify Users Stunned: iPhone Owners Rejoice as This Mind-Blowing New Feature Revolutionizes Your Music Experience and Leaves Rivals in the Dust

Illustration of the Rise Tower, the world's tallest skyscraper planned for Riyadh's North Pole district. Image generated by AI.

“World’s Next Giant Rises in the Desert”: Foster and Partners’ Saudi Tower Will Shatter Every Height Record Ever Set

Add A Comment
Leave A Reply Cancel Reply

Subscribe to Our Newsletter

News, investigations, and analysis — our top stories every morning to start your day right.

Trending
Illustration of Sony's strategic approach in the gaming industry and its position with the PlayStation 5. Image generated by AI.
“We Have a Different Strategy”: Sony Breaks Silence on PS5 Vs Switch 2 Debate With a Cold Dose of Corporate Reality
Illustration of the anticipated enhanced version of Red Dead Redemption II for next-gen consoles. Image generated by AI.
“I Just Got Some Very Exciting News”: Red Dead Redemption Voice Actor Hints at Upgraded Version That Could Drop Any Moment
Illustration of iPhone displaying animated full-screen music covers on the lock screen. Image generated by AI.
Spotify Users Stunned: iPhone Owners Rejoice as This Mind-Blowing New Feature Revolutionizes Your Music Experience and Leaves Rivals in the Dust
News by category
  • English
  • Tech
  • Finance
  • Leisure
  • Transport
  • Science
  • Security
  • AI & Robotics
  • Energy
  • Sustainable Development
Information
  • Meet the Team
  • Legal notice
  • Privacy policy
  • About Us
  • Advertising
  • Contact Us
  • About Us
  • Advertising
  • Contact Us

Subscribe to Our Newsletter

News, investigations, and analysis — our top stories every morning to start your day right.

Facebook X (Twitter) RSS
© RudeBaguette.com. All rights reserved.

Type above and press Enter to search. Press Esc to cancel.