Red flag for crowdfunding: the Kreyos smartwatch is another failed project, this time costing $1.5 million of backers' cash

Crowdfunding has seen booming growth in the past few years with websites like Kickstarter and IndieGoGo attracting massive amounts of money and the most popular projects there gathering millions of dollars. Remember the Pebble smartwatch? One of the most successful Kickstarter campaigns, it raised more than $10 million in funding, becoming a hit and is now one of the most popular smartwatches.



However, it’s not all roses in crowdfunding land, and many people are starting to wave the red flag after wasting their hard-earned cash on projects that fail miserably. Kreyos ...