In April 2010, Quirky received $6.5 million in Series A venture capital funding, led by RRE Ventures.[3] The company later received a $16 million Series B round in August 2011 led by Norwest Venture Partners, and a $68 million Series C round in September 2012 led by Andreessen Horowitz and Kleiner Perkins Caufield & Byers.[4] Then, in November 2013, Quirky raised $79 million in Series D funding from General Electric (GE) as well as its venture investors Andreessen Horowitz, Norwest Venture Partners, RRE, and Kleiner Perkins Caufield & Byers.[5] Part of the deal included a $30 million investment from GE, as well as a partnership to build 30 connected-home gadgets together in the next five years.[6]
The May 6, 2012, episode of CNN'sThe Next List featured CEO Ben Kaufman and the company.[8]
On July 31, 2015, Ben Kaufman stepped down as CEO following a layoff of 111 employees due to trouble getting funding.[9][10][11][12][13]
On September 22, 2015, the company filed for Chapter 11 bankruptcy.[14][15] The company's assets, including its website and most of its products, were bought by Q Holdings for $4.7 million in late 2015, despite objections from General Electric.[16][17][18] Quirky's smart home Wink platform was sold to Flextronics for $15 million in November 2015.[19][20]
It was announced on February 8, 2016, that the company had new financing and owners.[21]
As of April 24, 2024, Quirky's invention submission platform is not accessible. [22]
^"This week on 'The Next List': Quirky.com brings invention to the masses". CNN. Retrieved 2016-07-13.
^D'Onfro, Jillian (1 August 2015). "The CEO of New York startup Quirky steps down in the wake of lay-offs and funding struggles". Business Insider.
^Diana, Chelsea (3 August 2015). "Quirky founder Ben Kaufman steps down as CEO". New York Business Journal.
^Alois, JD (3 August 2015). "Quirky CEO Ben Kaufman Out. Replaced by CFO Ed Kremer". Crowdfunding Insider.
^Pastore, Rose (3 August 2015). "Quirky CEO Ben Kaufman Steps Down".
^Crist, Ry (2 August 2015). "Quirky's Ben Kaufman steps down as CEO".
^Gleason, Stephen (22 September 2015). "Invention Startup Quirky Files for Bankruptcy". The Wall Street Journal.
^Lohr, Steve (22 September 2015). "Quirky, an Invention Start-Up, Files for Bankruptcy". The New York Times.
^"New York bankruptcy judge approves sale of Quirky despite General Electric objections". Albany Business Review. American City Business Journals. 2015-12-11. Retrieved 2016-07-13.
^Mann, Stephanie Gleason And Ted (2015-12-04). "GE Says Quirky Has Hurt Its Reputation". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-07-13.
^"Quirky Gets Nod On $4.7M Asset Sale - Law360". www.law360.com. Retrieved 2016-07-13.
^Kastrenakes, Jacob (2015-09-22). "Quirky files for bankruptcy and announces plans to sell Wink". The Verge. Retrieved 2016-07-13.
^Kastrenakes, Jacob (2016-04-01). "Wink opens up about surviving the fall of Quirky". The Verge. Retrieved 2016-07-13.
^"An Introduction". A Quirky Blog. Quirky. Retrieved 2016-07-13.