In a posting on Facebook the elusive Steve Tan, founder of the Kreyos Smartwatch, responded to his critics. For those of you who are just catching up now, Kreyos launched a crowdfunding campaign on Indiegogo in 2013 that was hugely successful. The campaign closed as one of the most funded campaigns ever on the global crowdfunding platform. After suffering innumerable delays the product, a “smart watch”, has started to ship with many backers complaining about missing features, faulty products or the fact the watch can’t tell time.
Steve Tan had posted some pictures on his Facebook page hopping into a Ferrari and indulging in a designer store shopping spree – something that generated a bit of an uproar amongst backers.
Steve statement, posted not the Kreyos page, is below:
Hi guys,
This is Steve from Kreyos. Things are getting out of hand right now, and I’m sure my reputation sucks because of it. I know there’s been word going around and I’d like to clarify that I never used a single cent of the money I crowdfunded from Indiegogo for my personal use or gain. From the start of the company up until now, I haven’t received a single pay check to my name; this is because the company can make better use of the money at this point in time.
Steve Tan Ferrari and ShoppingFYI, I do not own a Ferrari. The Ferrari and shopping images below were taken way back in 2010 (before I even started Kreyos) on a holiday trip in Italy with my friends. I’m really sorry if the photos that have been circulating were misconstrued. Unless I can take the money and teleport back four years ago, suggesting that I am using the money to buy myself a Ferrari is simply stupid.
Currently, I am writing a very detailed post of what went from the start of the project up until our current situation. This includes details includes how the money was spent and where it was spent. I’ll post this hopefully at the end of next week.
In the meantime, the team is currently doing all they can in handling your requests, fixing bugs, and processing hardware replacements. It’s a tough time for all of us, but we are doing our best to fix these problems. Please keep my employees, and ex-employees, out of this; I will take full responsibility for these problems.
Sincerely,
Steve