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Tiko is the 3D printer you’ve been waiting for. Simple, accessible, and dependable, all for a pledge of $179.
Tiko is the 3D printer you’ve been waiting for. Simple, accessible, and dependable, all for a pledge of $179.
Tiko is the 3D printer you’ve been waiting for. Simple, accessible, and dependable, all for a pledge of $179.
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16,538 backers pledged $2,950,874 to help bring this project to life.

Highs and Lows

232 likes

Hi Everyone,

If you have followed us these past couple of years, then you have witnessed the struggles of entrepreneurship. The ups and downs. The highs and lows. The exciting victories, and the painful losses. You have seen that starting a company is a perilous journey, where success is the exception, not the rule.

Today we have some regretful news to share. Just when it seemed we had finally made it, we have once again found ourselves in a difficult situation.

 

What Happened?

It’s a long story, but it’s all out there in the updates.

We started as a trio of starry-eyed first-time entrepreneurs. With your support, we set out to change the world. Our mission was grand: to build the ultimate prototyping tool and empower everyday innovators around the world. We set off with a bang, and with blind optimism, we jumped head-first into manufacturing. It felt like we had it all figured out…

Except, we didn’t. We had no idea how difficult it would be to go from a prototype to mass production.We learned along the way, but most mistakes were costly and irreversible. Our greatest mistake was committing to inventory too soon. We didn’t realize it at first, but by ordering components in bulk, we had backed ourselves into a corner. Design flaws appeared, and we were trapped. By the time we understood our predicament, it was already too late. We were in too deep, and there was no turning back. Our cheerful mission to empower innovators had become a struggle to survive.

Despite the year and a half of hardware and software setbacks, manufacturing challenges, repeated delays, regulatory hurdles, unending certification requirements, unplanned operating expenses, logistical nightmares, sleepless nights, strained relationships, frustrated suppliers, a disgruntled community, new competitors, and a jaded industry, we simply refused to give up. Day after day, we kept fighting with all our hearts. Evenings. Weekends. More engineers. More developers. More prototypes. More testing. Nothing was ever enough. We did everything we could to turn this around, but by November 2016, we were at a breaking point. With resources running thin, and options running out, we prepared for one final push. We believed software improvements could solve the remaining technical issues, and that pre-orders could solve our financial ones. It was our big chance to get back on our feet.

We gave it everything we had, and we made great progress, but in the end it wasn’t enough. Software had improved, but not enough. Same with hardware and quality control. Pre-orders streamed in, but they too were just not enough. We were right at the finish line, and yet, we were miles away.

 

How Far Did You Get?

We developed the software, finalized the hardware, and manufactured 16,000+ sets of (almost) every component. We managed to ship a little over 4100 finished printers. The first hundred went to early-bird backers, and the rest were spread across three large batches. One to Canada, two to the United States. Europe was next, but feedback suggested the software was not ready, the hardware still needed work, and we no longer had the resources to assemble/ship further batches.

There’s also a myth that we bought/built an entire factory. It’s based on the ambiguous wording of a previous update. The fact is, we simply rented a space for assembly. We later backed out because of registration issues, but were allowed to stay in the free space we had before.

  

What Is the Status Now?

By early January, we had no choice but to lay off our team and wind down operations. It was the hardest thing we had ever done. Despite the team’s incredible effort and dedication, their sacrifice and their faith, we simply could not afford their salaries. We had to let them go. We asked everyone to organize and document their work, and with heavy hearts, we wished them farewell. Everything is now in “hibernation mode”. Frozen, but well documented and ready to resume at a moment’s notice.

Meanwhile, in China, operations have slowed to a crawl. We continue to run small-scale tests to show that hardware can be improved, and we do our best to fulfill warranty requests, however we are no longer in production. Most of the components are sitting there in boxes, but we lack the resources to purchase the remaining few, or to assemble/ship full batches of finished printers.

We have also cancelled all pre-orders. We deeply appreciate their patronage, but the risk is now too high. We must return our focus to fulfilling Kickstarter rewards before making promises to anyone else.

Basically, the company is now on standby while we pursue ways to get back on track.

 

So, Is Tiko Dead?

No, at least, not yet. We made countless mistakes, and we are now in a tough place, but it doesn’t mean that everything we built is suddenly worthless.

The cost of 3D printers has dropped significantly since our campaign launched. Now that this price war (aka race to the bottom) is nearing its end, we have asked ourselves: What is the next frontier? Where will this industry go next?

Well, we have our theories, and we believe that Tiko as a platform is exceptionally well positioned for this future. Granted, these technologies need some re-engineering, more testing, and much better execution, but the potential is still there. It turns out there are people who feel the same way...

  

What Are You Doing To Fix This?

We are doing something we should have done a long time ago. We are speaking with investors.

Up until now, we have been on our own. We believed investors would get in the way, but that was immature. It’s time to put that thinking behind us, and start working with people who have the resources and experience to manufacture a product at this scale, and build a sustainable business.

We are already well into discussions with a number of interested investors. They are fully aware of our situation, but see our vision for the industry, and the roadmap for our technologies. They understand the challenges, but also recognize the potential for a bright future.

Of course, these discussions cannot be rushed. It’s a lengthy process, and it could take months for us to reach something conclusive. We’ll update you on this once we have something definitive.

 

Why Didn’t You Tell Us Sooner?

Keeping technologies private is one thing, but this is entirely different. It’s an incredibly heavy burden to bear, and holding back was not easy. Unfortunately, many investors value discretion, especially in the early stages of discussion. The headlines of our failure would hurt the odds of reaching a deal, so we did what was best for the project and kept quiet. It’s all out in the open now, but we’ve already made good progress, so it might not be a dealbreaker.

 

What If Investment Falls Through?

There are other roadmaps for how we could proceed. Some position us for a slow recovery, while others involve a gradual wind down. Either way, we feel that you should have a say in all this. Over the coming weeks, we will be in the comments section to collaborate on a variety of ideas. Everyone is welcome to participate, and we hope you will join us as we work together to define the next chapter of the Tiko story.

 

Can I Get a Refund?

No. If we cannot refund everyone, then it is unfair to refund anyone. Our priority is still the successful delivery of all Kickstarter rewards, and the remaining funds will be used for the turnaround effort, in line with Kickstarter’s Terms of Use.

 

Final Thoughts

Starting a company is a fight against the odds, and a journey into the unknown. Just when you think you have it all figured out, reality comes in and hits you in the gut. We climbed to the top, then fell off and hit every branch on the way down. We’re sorry we disappointed you. You believed in us, and we let you down. It hurts like hell... but this isn’t over yet.

We know you're tired. We are too. The thing is, we still love what we do. We still have our vision, our passion, and perhaps even our future. These are tough times, but we haven’t given up yet, and we hope you won’t either.

Thank you for supporting us at our highest heights, and our lowest lows. We may be down, but as long as you believe in us, we will never be out.

We’ll be in touch,

Team Tiko

Dylan Wase, max, and 230 more people like this update.

Comments

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    1. Amir Bashan 5 days ago

      update??????

    2. Kalus on May 18

      @tiko...update please.
      Tiko's shipped, who many ? Outstanding shippments ?
      Remaining funds, aha, which amount ?
      Remaining shipping costs amount ?
      Production and delivery plan ? (Your 'priority' you said)
      Did you already payed the standard scam penalty to Kickstarter ? (Sh*t, i can't see your face...)

    3. Constancio Gonzalez on May 16

      Just a comment... how did you spend the 2.950.874 $ (when your initial budjet was only 100.000) ??... its 29 times what you said you needed!!! 29 times!!! Trully you have done really big mistakes... or you are cheating us... are you?

      Really dissapointed wity you... really dissapointed...

    4. Wei Khiung on May 15

      Agree!!! Shipping fee~~~

    5. Missing avatar

      3d4all on May 14

      Same advice full refund or cash back

    6. Missing avatar

      Marc Daniele on May 13

      If you don't at the minimum refund the shipping, I say we form a class action lawsuit.

    7. Missing avatar

      Asaf Cohen on May 10

      I would like to formally request full refund for the Tiko printer that you promised with a value of 179$ and the 55$ that you requested for shipping.
      Thank you in advance.

    8. Missing avatar

      Krystle DiPaolo on May 9

      I am formally demanding my $55 shipping fee immediately. Shipping was collected when the imminent demise of this project was well known by TIKO management team. This money was collected outside Kickstarter and not part of the backing investment and therefore not to be commingled with the initial backing monies.

    9. Yong He on May 5

      I agree with most of you that we need ask for the shipping fee back. We accept the truth that TIKO was failed, but the shipping fee is for shipping, it didn't happen. We need this money back. Kickstarter should help us to solve this problem.

    10. Missing avatar

      Per Nyblom on May 3

      Hello
      I am one of the lucky that has my tiko... I had some problems and it happens from time to time. But I found how to solve them!

      So far layer shifting seems to happen when extra materiel is coming out between layers. I just reduced the layer time to 0. Seems to help alot!

      Any way I am really happy with my tiki besides the trouble. Pleace don't stop. Please open the forum so people can continue to discuss solutions! Don't listen to the negative spam.

      Also I would like to buy spare parts. Please don't stop everything. Selling parts should work no?
      No change same design...

      Best regards,
      Per

    11. Scott Lancaster on May 3

      So, I understand that you are trying to cite KickStarter's TOS as blocking point for not issuing refunds. The point is that you flat out lied when you asked us for an additional $55 because you said your company was ready to ship the product. If that isn't a more blatant cash grab I don't know what is. It's kinda false advertising when you say a product is ready to ship, charge your base for the shipping, and then back out saying you failed with the "No one gets a product and No one gets a refund". I think at best you should at least be refunding the $55 seeing as you didn't collect that through Kickstarter and since there is nothing to ship, you no longer need that shipping fee.

    12. Stefano on May 3

      @#!@ thanks for stolen our money!!!!!! f#!@#! ba#!@!##

    13. Steven Kennett on May 3

      Well Tiko has finally done it. They banned the internet from their forums. I'll never back another project run by the founders of this failed turd. The product was no where near as much of a failure as the founders management of the company. They're horrible, miserable and cowardly people.

    14. Lorenzo Buffa + Analog Watch Co. on May 2

      @Tiko

      Guys, I know pulling a product off like this can be hard - I've done 3 myself. Seriously though, when will you post another update? If you've already made 16000 parts of certain things, why cant you just go ahead and begin assembly? Even if the blah blah blah is off slightly?

    15. Missing avatar

      Nicolas S on May 1

      @Tiko, I would like to formally request full refund for the Tiko printer that you promised with a value of $179 and the $55 that you requested for shipping. I will happily pay again if you can prove that the order will be fulfilled. Please respond or I will assume that no action will be taken on your part.

    16. Missing avatar

      Chris Edmondson on April 30

      I would like to formally demand my $55 shipping fee refunded to me immediately. I feel SCAMMED by the way the shipping was collected when the imminent demise of this project was well known by the TIKO management team.

    17. Slater on April 29

      Yet another over-promising, underdelivering "kickstarter".
      Shame on kickstarter for lack of due diligence.
      The fact that *so many* tech projects on kickstarter fail so badly is proof positive they do not have what it takes to do proper vetting.

      Let's face it. You overpromised and underdelivered, and how about that shipping fee? I don't want to assume you're fraudulent and deceitful, maybe you are, but I think we know you're amateur hour at best.

      I hope for your supposed prospective investors' sake, they all turn you down.
      Why? Because you're a sure loss. The capital could be better used on people who know what they're doing. And you clearly do not.

    18. Richard Parker on April 29

      Well I've only backed 3 Kickstarter campaigns, and 2 delivered as promised. Thank you @tiko3d for reminding me of the risk involved with helping online panhandlers and ruining it for any other entrepreneurs that might actually keep their word that might have gotten money from me.

    19. Chris Dobal on April 29

      So it's clear they've stolen our shipping fees. That much is NOT protected by kickstarter. How do we sue their lying butts to get it back? Enough of this, I'M PISSED.

    20. Ben on April 29

      Refund my shipping costs!

    21. michael black sr on April 27

      As long as we believe in you ? You have got to be kidding .
      What have you done that would foster faith In you ?

    22. michael black sr on April 27

      You should address the shipping charges soon .

    23. Raymond E Gaustadnes on April 26

      I reached out to my bank today, in hopes that it would refund the two payments made towards this company through the VISA part, as a payment for product failed to be delivered, where company of said product refuse to refund the payments in whole or part.

    24. michael black sr on April 24

      As long as we believe in you ? You have got to be kidding .
      What have you done that would foster faith In you ?

    25. Henrik Friberg on April 23

      @Tiko, I would like to formally request full refund for the Tiko printer that you promised with a value of $179 and the $55 that you requested for shipping. I will happily pay again it you can prove that the order will be fulfilled. Please respond or I will assume that no action will be taken on your part.

    26. Vito Nicola Iacobazzi on April 23

      come on, at least send us (to backers) all the un assembled pieces...

    27. Ivo Felix Schaap on April 23

      @Tiko, I would like to formally request my $55 shipping refunded to me. I will pay my shipping fee again once you are ready to send me my printer.

    28. David on April 21

      @Tiko, I would like to formally request my $55 shipping refunded to me. I will pay my shipping fee again once you are ready to send me my printer.

    29. Missing avatar

      Francisco Jullian on April 17

      Are you telling us that we wont see any product for the money we paid??? even the shipping???

    30. Randy Rodgers on April 12

      So, being the stubborn-as-a-mule person I am, I once again found myself trying to get a single object printed with my Tiko. On failed attempt number 8 or 10 for the day, I used the tip-over-to-stop technique to interrupt my print. The VERY thin lip on the top of the clear plastic part of the base cracked and came loose from the top part. There is, at this point, not one single thing I can say about this project that isn't negative. $3 million dollars bought the backers nothing at all. I am planning to order a Prusa within the next few days, hopeful it will restore my faith in humanity.

    31. Alan Carter on April 12

      Turns out I was looking in the wrong spot: https://www.kickstarter.com/profile/tiko3d/comments

      Repaste:


      Hi Everyone Thank you all for your continued commitment to the Tiko project. We understand many of your concerns, however we remain committed to the turnaround plan. Over the past few weeks, we have made substantial progress in our search for investment. We have further improved the printer and processes, updated our corporate strategy/business plan, and have made progress on a backer-delivery plan. We are still in discussions with key potential investors, and we believe that in approximately 6-8 weeks, we will know for certain if a deal will be reached. During this time we will continue to refine the current and future product development roadmap, price/position strategy, management structure, methods of operation/QC, and much much more. Our goal is to resume manufacturing in a streamlined and sustainable manner, however we are not simply seeking a cash injection to just continue business-as-usual. Instead, we are working with experts, consultants, advisors, and our potential investors to rebuild this company in a way that benefits you. This is a careful and thorough process, and we kindly ask for your patience during this time. We will let you know once we have more information. Regards, Team Tiko

      Mar 21 2017 on Tiko - The Unibody 3D Printer


      Hi Everyone, Thank you all for joining in to collaborate on the future of Tiko. We value your ideas, and we share many of your sentiments. We are listening. You believed in us, and we care about you. However, in light of some recent comments, we are re-evaluating options for how to best proceed. We kindly ask for your patience while we do so. Regards, Team Tiko

      Feb 25 2017 on Tiko - The Unibody 3D Printer

    32. Alan Carter on April 12

      "Over the coming weeks, we will be in the comments section to collaborate on a variety of ideas. Everyone is welcome to participate, and we hope you will join us as we work together to define the next chapter of the Tiko story." -- have they posted once ?

    33. Missing avatar

      James Hale on April 11

      Thousands of people paid the additional $55 fee for shipping. I've read estimates the total amount paid was one million dollars.

      This fee was paid in good faith with the expiation of receiving a printer. You have not acted in good faith, was it a mismanagement with the funds used to keep the project alive? If so you obviously had advance knowledge the printers would never ship, especially shipping thousands of printers without any funds.

      If you have nothing to hid, show some ethics, be transparent, let us know what happened to the money? Thousands of people deserve to know what happened and not some BS if you can't refund everyone you will not refund anyone because it not fair.

      I'm pretty sure everyone already knows , not everything in life is going to be fair.

      It's not uncommon for large American corporations to give multi-million dollar rewards called a Golden Parachute to CEO's for doing a poor or crappy job.

      Your continued silence regarding the One Million Dollars collected in shipping fee's, is cause for concern, this silence raises questions. At this point I do not feel it's unreasonable asking for some form or type of accounting The One Million Dollars was not a Golden Parachute gifted to yourself.

      I do not believe this is what happened, but your continued silence raises doubt.

    34. Missing avatar

      Philipp Dittmer on April 11

      I won't get may TIKO anymore....At least give us the shipping cost back! Because....there is nothing to ship. No package, no container, ...nothing

    35. Missing avatar

      Joerg Johann Mueller on April 11

      You wrote about "no refund" and step behind the "Terms of use" of Kickstarter. Ok. That's right for the printer itself. Anyway there is the shipping money you collect outside of Kickstarter. So you can't use the "Terms of use" of Kickstarter to hide. You have to pay this money back to all the backers that didn't receive their printer. I am sure no one like to get the accumulated interest that the money have collected on your bank account. Anyway it would be their right also to get this additional money. So now stop talking about what may happen in the future. Drop your pans and pay back the money you borrow. If you don't do, It's a fraud. You cheat serveral thousands People all around the world. I hope you can sleep with this in mind!

    36. Randy Rodgers on April 11

      Even your going out of business update is a bloated and obtuse load of manure--consistent until the very end. You guys delivered a piece of dung wrapped up in a Tiffany box after delay after delay after delay. Not everyone has the know-how or business savvy for entrepreneurship, but you guys did have the dance down pat. You will go down in infamy alongside such luminaries as Zano. Congrats. On a positive note, you have helped curb my Kickstarter addiction.

    37. Henry Mang on April 11

      @Tim Roberts
      I totally agree, KS is not just a shop where you walk in and select the goods you like.It's risky investment.
      I must agree with most of us about the shipping fee though.. You could have asked it properly and honestly or let's be honest, you could have asked it later, when there is something to ship to everybody, not just few bacthes to Americas..
      I know business struggle, i'll cope with that daily. Find you'r way to put it together and stand for your backers as they have stand for you.

    38. Renos Zannettos on April 10

      Another project reapping off backer. At least give us the shipping cost back.

    39. Giovanni Gentile on April 8

      I need justice for all the people that like me have paid $ 179,00 for a print and after $ 55 for a shipment of nothing. Dear TIKO if you did not have in stock the printers, why you asked the moneys for an expedition. This is a FRAUD. And why KICKSTARTER is silent about? This is dangerous, for the seriousness of this platform, and for the honest peoples who have been successful thanks to crowfounding.

    40. Ares Games on April 7

      I think that asking the backers to pay for shipping almost a year ago, when clearly the production was not going into the proper direction, was definitely - to be mild - inappropriate, if not downright dishonest. Apart from that, I understand the risk of pledging for a KS and there is nothing to blame. I agree with the other backers who write that at the very least, shipping charges should be refunded.

    41. Dipak on April 5

      You know what...on the one hand I do understand the growing pains...learning curves etc..etc...but each time you were asked about the shipping dates etc...a fairytale ensured...not good enough...we want to fine tune it..etc...almost US$3 millions has been invested....and what have you actually done with this money...perhaps a breakdown and transparency would help most of us. The point about shipping remains...just stop hiding behind excuses...man up...take responsibility for the fuck up and get this product made. If you can't say so....enough with the childish finger pointing. Yes...I am pissed...but at the same time...know business is not easy...but ethics ,values and principles ought to have been the foundations...evidently they weren't...hence we're here.
      Have a good day...and believe me...I have been very restrained in this email. But expect a harsher one privately;)

    42. Missing avatar

      Angel on April 5

      So as many up here I want a refund, if not a full refund, I'd expect at least a refund for the shipping costs. I still don´t get so many updates being positive and then the last one with all this crap and no more updates...

    43. Missing avatar

      Tamarinen on April 4

      @Doris Dorn
      As things look now, it would be a pretty solid bet to say there will be no more printers. I'd very strongly advice against holding one's breath waiting for it.

    44. Enes Biberoglu on April 3

      So its a loss too !!! Whats going on with kick starter many products are failing ... then we should be carefull

    45. James Dickson on April 2

      So guys, as an original investor, it would be great to get a printer, but as these things carry risk, I can live with a loss if you are stuck. Taking the shipping money if you could not ship us not right though.

      Are you going to satisfy original pledges as your update stated? If not you should refund shipping as this further extraction if my cash feels, well... a little Dodgy

    46. Roberto Mendoza-Diaz
      Superbacker
      on April 2

      Julio ... what's a pijo?

    47. Missing avatar

      Julio on April 1

      Tiko: Niños pijos, sinvergüenzas y estafadores. Seguro que están de vacaciones con nuestro dinero? Where's the many for the shipping?

    48. Doris Dorn on April 1

      So ---no 3D printer is coming ? Or maybe someday?

    49. Shuji Kanamaru on March 31

      As others said, if you don't send us Tiko, shipping fee must be refunded!!

    50. Missing avatar

      Guillaume Perton on March 29

      Hi, I understand that your project derailed, it is sad as the expectations were high. As a backer, the risks were clear, and I accept that the pledge money is forfeit.
      I am would definitely appreciate an update on the shipping money refund. This money was not supposed to be at risk.
      PM the details please.