Less than a week after Torquing Group announced that it was dissolving, Kickstarter said it is mystified as to how the British startup and its Zano drone raised $3.4 million in less than a year then totally collapsed.
In a statement sent to backers on Monday, Kickstarter wrote that it was “extremely frustrated by what’s happened with this project.”
We learned the news of the Zano bankruptcy the same way that you did—through a bare-bones project update. We e-mailed the creators as recently as two weeks ago to encourage them to be more communicative with their backers, but received only a cursory response.
You deserve more than that, and we are committed to helping backers get to the bottom of what happened here.
Today we sent an e-mail to the Zano team informing them of their obligations to backers and asking them to share an open and transparent update on what happened with the project. We have asked them to post this update by Monday, November 30.
If they do not adequately brief backers by that time, Kickstarter will independently pursue an inquiry into the Zano project. Should this occur, we will share those findings with you, the backers, once…