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The Coolest Kickstarter tops $9 million

Written By limadu on Minggu, 24 Agustus 2014 | 19.33

kickstarter cooler

NEW YORK (CNNMoney)

More than 46,000 people think so. The Coolest Cooler has raised over $9.2 million on Kickstarter -- and it still has a week to go.

It's described as a "portable party" and includes features like a blender, waterproof bluetooth speaker, USB charger, cutting board and bottle opener.

It's the second highest grossing campaign ever, ranking just behind the Pebble (the smartwatch that raised a record $10 million in 2012).

"There's a point where products derive much more attention than any rational expectation would suggest," said Jason Greenberg, PhD and assistant professor at New York University's business school, "In a market where potato salad can raise $55,000, it's not that surprising."

What's more surprising is that this isn't Coolest's first time around the Kickstarter block.

Related: The 13 most WTF gadgets

Ryan Grepper of Portland, Ore., unsuccessfully tried to raise $125,000 for similar model of The Coolest In November 2013. He only raised about $100,000.

On Kickstarter, Grepper detailed the biggest changes this time around: Seasonality (July vs. November), more supporters and an improved design.

It's certainly worked -- but are the millions any indication of how it'll fare post-crowdfunding?

They could be.

"We've seen more and more angels and investors using [Kickstarter] as a minor league in terms of [gauging] customer demands," said Greenberg.

Related: Water balloon lovers pledge $645,000 on Kickstarter

According to PrivCo, a financial data provider on privately-held companies, U.S. cooler sales totaled $635 million in 2013.

Igloo Products Corp "dominates" the market, according to Matt Turlip, senior analyst at PrivCo. The company, which was acquired by VC firm J.H. Whitney & Co. earlier this year, owns 53% of the full-size cooler market.

"Maybe in a year or two, with $9 million in funding, The Coolest can hope to compete," said Turlip.

Those who pledged enough for the cooler ($165 or more) will have to wait until February 2015 to get the product (which will come in Margarita, Blue Moon and Coolest Orange).

But they will have saved a cool $130 -- it'll retail for $299.

First Published: August 22, 2014: 5:22 PM ET


19.33 | 0 komentar | Read More

10 Western companies getting slammed in Russia

LONDON (CNNMoney)

Many are reporting slower Russian sales and, in some cases, store closures as the Ukraine-Russia conflict drags on. Some have seen their share price get pummeled since the start of the year.

Cold War-style tensions and escalating sanctions are slamming these companies, as American and European leaders blame Russian President Vladimir Putin for the unfolding crisis and violence in Ukraine.

Here are 10 of the highest profile, worst hit companies:

1.McDonald's: Russian officials and regulators have been cracking down on the restaurant chain. Officials shut a handful of popular McDonald's (MCD) restaurants in Moscow this week, and state media report that Russia's consumer watchdog will be conducting checks on outlets as part of a food standards investigation.

Meanwhile, Wendy's (WEN) was recently forced to exit Russia due to what it said was a change in management at its local partner Wenrus. Wendy's had been in Russia since 2011.

2. Coca-Cola: The drinks giant said this week that quarterly sales declined by about 5% in Russia, Ukraine and Belarus. Coca-Cola (KO) blamed "economic instability in the region," but global sales increased by 3%.

3. Carlsberg: The Danish brewer warned this week its annual results will be weaker than expected, as Russian demand dries up. Carlsberg (CABGY) estimated that industry-wide Russian beer sales fell by as much as 7% in the first six months of 2014 due an uncertain economic environment, leading it to also lose market share. Carlsberg beer is the most popular beer in Russia by a wide margin. The company's stock has fallen 15% since the start of the year.

4. Adidas: In late July, the German sportswear company announced it was shutting stores and scaling back expansion plans in Russia. It said that "tensions in the region" had hurt consumer spending, and that the decline in the Russian ruble hurt profitability. Adidas (ADDYY) slashed its 2014 earnings forecast by 20% to 30%, partly because of Russia. Shares have plunged 37% since the start of 2014.

5. Volkswagen: The German automaker blamed an 8% drop in its Russia car sales during the first six months of the year on political tensions, and it said it believes i sales industry wide fell about 25% in July. Volkswagen (VLKAY) shares are down 13% since the start of the year.

6. Ford: A weakening ruble and slower sales in Russia have hurt Ford's (F) bottom line.

7. Renault: The French car maker has warned investors about a sharp slowdown in Russia and other emerging markets. Russia is Renault's (RNSDF) third largest market in terms of sales.

8. BP: The British oil giant BP (BP) owns a large stake in Rosneft, Russia's biggest oil company, and warned that unit will suffer from tougher U.S. sanctions. Investors are also worried about other energy companies, including Total (TOT) and Exxon Mobil (XOM), which have significant ties with Russia.

9. Societe Generale: Profits at the French bank's Russian unit fell 36% in the second quarter.

10. Danone: The French food multinational said first-half results were hurt by a decline in the ruble, and that it was forced to hike prices for some products in Russia due to strong inflation.

-- CNN's Olga Pavlova contributed to this report.

First Published: August 23, 2014: 10:12 AM ET


19.33 | 0 komentar | Read More

Glenn Beck sought out CNN deal, but talks died fast

NEW YORK (CNNMoney)

But the idea fizzled fast and talks aren't expected to resume, according to several people with direct knowledge of the exchange. "The talks were never serious," one of the people said.

Still, Beck's interest -- first reported Friday night by the Wall Street Journal -- is a sign that he is seeking partnerships to help his two-year-old cable channel, called The Blaze.

The Blaze has had a hard time gaining distribution on cable and satellite systems. It is not alone: Many fledgling channels are in similar positions, particularly channels that are not backed by major media companies.

Time Warner (TWX), owner of CNNMoney and CNN, is one of those major media companies. It also owns HBO, TNT, TBS, and other channels, so it has significant leverage in negotiations with distributors like Comcast (CMCSA) and DirecTV (DTV).

That's one of the reasons why Beck's representatives from his media company, Mercury Radio Arts, reached out.

One of the sources compared the proposal to the joint venture between Oprah Winfrey and Discovery Communications for the channel that became OWN. Discovery provided the shelf space on cable systems and Winfrey provided the bulk of the programming for that channel.

Related: Future of media

Another source said Beck's company proposed that it buy a block of time on HLN, a smaller television sibling of CNN. That would have been a homecoming of sorts for Beck, who hosted a nightly show on HLN from 2006 to 2008. But CNN signaled that it was not interested.

The contact from Mercury Radio Arts came after media reports about talks between Time Warner and Vice Media. Those talks, first reported in late June, have also involved HLN. They are believed to be ongoing, though neither of the companies have commented publicly.

Spokespeople for Beck and CNN declined to comment.

When I interviewed Beck for CNN's "Reliable Sources" last month at his headquarters in Irving, Texas, he acknowledged the challenges that independent channel owners face. At the time, I didn't know about his company's outreach to CNN, and he didn't mention any possible partnerships with major media companies.

Related: Glenn Beck's challenge: Getting into your TV

But he spoke at length about his interest in making sure Mercury Radio Arts reaches audiences through television, radio, the Internet, in-person events, and other means.

"I am interested in delivering an experience for people," he said. "And I want to be in every -- in every possible venue."

Beck's channel is arguably the biggest opportunity he has. It originated on the Internet and was picked up by the country's second-biggest satellite television provider, Dish Network (DISH), in 2012. At the time, that was a big coup for Beck.

Since then, The Blaze has struck distribution deals with about 70 smaller TV providers. But the industry is top-heavy, and only two of the ten biggest providers, Dish and Cablevision (CVC), have supported The Blaze so far.

Beck's representatives have declined to say how many of the country's 100 million homes with pay-TV currently have access to The Blaze, which helps to explain his apparent interest in partnerships.

First Published: August 23, 2014: 8:17 PM ET


19.33 | 0 komentar | Read More

The Coolest Kickstarter tops $9 million

Written By limadu on Sabtu, 23 Agustus 2014 | 21.29

kickstarter cooler

NEW YORK (CNNMoney)

More than 46,000 people think so. The Coolest Cooler has raised over $9.2 million on Kickstarter -- and it still has a week to go.

It's described as a "portable party" and includes features like a blender, waterproof bluetooth speaker, USB charger, cutting board and bottle opener.

It's the second highest grossing campaign ever, ranking just behind the Pebble (the smartwatch that raised a record $10 million in 2012).

"There's a point where products derive much more attention than any rational expectation would suggest," said Jason Greenberg, PhD and assistant professor at New York University's business school, "In a market where potato salad can raise $55,000, it's not that surprising."

What's more surprising is that this isn't Coolest's first time around the Kickstarter block.

Related: The 13 most WTF gadgets

Ryan Grepper of Portland, Ore., unsuccessfully tried to raise $125,000 for similar model of The Coolest In November 2013. He only raised about $100,000.

On Kickstarter, Grepper detailed the biggest changes this time around: Seasonality (July vs. November), more supporters and an improved design.

It's certainly worked -- but are the millions any indication of how it'll fare post-crowdfunding?

They could be.

"We've seen more and more angels and investors using [Kickstarter] as a minor league in terms of [gauging] customer demands," said Greenberg.

Related: Water balloon lovers pledge $645,000 on Kickstarter

According to PrivCo, a financial data provider on privately-held companies, U.S. cooler sales totaled $635 million in 2013.

Igloo Products Corp "dominates" the market, according to Matt Turlip, senior analyst at PrivCo. The company, which was acquired by VC firm J.H. Whitney & Co. earlier this year, owns 53% of the full-size cooler market.

"Maybe in a year or two, with $9 million in funding, The Coolest can hope to compete," said Turlip.

Those who pledged enough for the cooler ($165 or more) will have to wait until February 2015 to get the product (which will come in Margarita, Blue Moon and Coolest Orange).

But they will have saved a cool $130 -- it'll retail for $299.

First Published: August 22, 2014: 5:22 PM ET


21.29 | 0 komentar | Read More

Hypoallergenic nuts to solve nut allergies

ozy-nuts

NEW YORK (CNNMoney)

Gus had suffered — but luckily survived — anaphylaxis, a potentially fatal reaction. Tests later revealed he had allergies to peanuts and tree nuts, like almonds and hazelnuts, the mere scent of which makes his eyes and throat itch. Now 5 years old, Gus politely refuses his friends' high fives, lest they bear traces of M&M's or other nut-containing products. Hass carries baby wipes everywhere, cleaning every surface within his reach. Yet Gus still suffers a reaction roughly once a month, and he's experienced around 20 anaphylactic episodes besides.

More from Ozy: How does money smell?

Gus knows his allergies can kill him. "He asks tough questions," Hass says. " 'What happens to kids who die from food allergies? Are there food allergies in heaven?' "

At present, no treatment exists for nut allergies. An EpiPen can quell severe reactions, but the only widely accepted preventive measure is vigilant avoidance. It's rarely vigilant enough.

That's why researchers at the U.S. Department of Agriculture have shifted their focus. Instead of treating people who suffer from nut allergies, they're trying to treat the nut. That means "disrupting [the] structure" of nut proteins, says Christopher Mattison, a molecular biologist at the USDA's Agricultural Research Service.

More from Ozy: Crime that pays well unless you're a woman

Understanding how this works requires a bit of biology. Nut allergies typically flare when an antibody in the immune system, immunoglobulin E (IgE), binds to the nut's protein, triggering a reaction. So scientists have devised a clever tactic to trick IgE: modifying the shape of the proteins so the antibody can't recognize them.

To that end, Mattison and his colleagues treated proteins from cashew nut extract — proteins similar to those found in many other nuts — with a combination of heat and sodium sulfite, a chemical often used as a food preservative. Both disrupt crucial chemical bonds that help hold nut proteins intact, basically dicing them into smaller pieces. The researchers then mixed modified and unmodified cashew proteins with IgE from people allergic to cashews.

More from Ozy: Extreme food at state fairs

Sure enough, roughly 50 percent less IgE latched on to the altered proteins, as described in the Journal of Agricultural and Food Chemistry in June — indicating that the modified cashew proteins might at least dampen the severity of an allergic reaction.

But "there's plenty of work to be done before we can extend [this] into ... a practical solution," says Mattison. So far, scientists have only extracts, not whole nuts; at this stage, it's hard to know what a modified nut would taste like. And while the scientists have reduced IgE binding, they haven't eliminated it altogether — which doesn't help patients sensitive to even the tiniest amounts of nut protein.

Still, the possibility excites Hass and others. Peanut and tree nut allergies plague an estimated 19 million kids and adults in the U.S., and the number of children with peanut allergies in the U.S. has tripled in just over a decade.

More from Ozy: Me, mom, dad, grandparents all under one roof

Earlier studies have used similar treatments, but with harsh, laboratory-grade chemicals. The new study is the first to use a compound — sodium sulfite — that falls under the Food and Drug Administration's "generally regarded as safe" category, bringing modified nuts a step closer to being made as a food product.

Still, hypoallergenic nuts probably won't appear in supermarket aisles for several years. First, Mattison and his team want to tweak the treatment process so they can use a smaller amount of sodium sulfite, or an even milder alternative. They also want to explore whether the process can be applied to other nut proteins. So far, preliminary tests have revealed that it significantly alters the the structure of some peanut, pistachio and pecan allergens.

More from Ozy: Come to the U.S.: Buy a sports arena

They're also working to modify whole cashews, not just cashew extract — and to ensure that modified nuts taste the same as their unaltered counterparts. They'll also eventually need to test the method in a living system, such as mice and actual cells.

Mattison's approach, treating the allergen instead of the patient, is the opposite of oral immunotherapy — gradually scaling up consumption of allergy-triggering foods to dull the immune system's sensitivity to them. Oral immunotherapy has shown promise, but building tolerance can take months.

In a clinical trial, 84 percent of children tolerated the equivalent of about five peanuts, but only after 26 weeks of therapy, as described in The Lancet in January. And patients could still suffer severe allergic reactions as their immune systems learn to tolerate the offending food. In contrast, nut allergy sufferers could theoretically eat however many allergy-free nuts they want, whenever they want.

Even if researchers do successfully manufacture hypoallergenic nuts, some view them as the second-best solution. "My preference ... would be to actually decrease the allergic response of the individual," says Jessica Martin, a food allergy blogger whose son is allergic to pistachios, cashews, a host of other tree nuts and about 15 other foods. Oral immunotherapy "is the holy grail in my mind. I want a cure."

But other parents, like Hass, would embrace even a quasi-fix. "Anything helps."

First Published: August 22, 2014: 3:10 PM ET


21.29 | 0 komentar | Read More

10 Western companies getting slammed in Russia

LONDON (CNNMoney)

Many are reporting slower Russian sales and, in some cases, store closures as the Ukraine-Russia conflict drags on. Most have seen their share price fall since the start of the year.

Cold War-style tensions and escalating sanctions are slamming these companies, as American and European leaders blame Russian President Vladimir Putin for the unfolding crisis and violence in Ukraine.

Here are 10 of the highest profile, worst hit companies:

1.McDonald's: Russian officials and regulators have been cracking down on the restaurant chain. Officials shut a handful of popular McDonald's (MCD) restaurants in Moscow this week, and state media report that Russia's consumer watchdog will be conducting checks on outlets as part of a food standards investigation.

Meanwhile, Wendy's (WEN) was recently forced to exit Russia due to what it said was a change in management at its local partner Wenrus. Wendy's had been in Russia since 2011.

2. Coca-Cola: The drinks giant said this week that quarterly sales declined by about 5% in Russia, Ukraine and Belarus. Coca-Cola (KO) blamed "economic instability in the region," but global sales increased by 3%.

3. Carlsberg: The Danish brewer warned this week its annual results will be weaker than expected, as Russian demand dries up. Carlsberg (CABGY) believes that its sales in the Russian market fell by as much as 7% in the first six months of 2014 due an uncertain economic environment. Carlsberg beer is the most popular beer in Russia by a wide margin, but it has recently been losing market share that. The company's stock has fallen by 15% since the start of the year.

4. Adidas: In late July, the German sportswear company announced it was shutting stores and scaling back expansion plans in Russia. It said that "tensions in the region" had hurt consumer spending, and that the decline in the Russian ruble hurt profitability. Adidas (ADDYY) slashed its 2014 earnings forecast by 20% to 30%, partly because of Russia. Shares have plunged by 37% since the start of 2014.

5. Volkswagen: The German automaker blamed an 8% drop in its Russia car sales during the first six months of the year on political tensions, and it said it believes its sales in the market fell by about 25% in July. Volkswagen (VLKAY) shares are down 13% since the start of the year.

6. Ford: A weakening ruble and slower sales in Russia have hurt Ford's (F) bottom line.

7. Renault: The French car maker has warned investors about a sharp slowdown in Russia and other emerging markets. Russia is Renault's (RNSDF) third largest market in terms of sales.

8. BP: The British oil giant BP (BP) owns a large stake in Rosneft, Russia's biggest oil company, and warned that unit will suffer from tougher U.S. sanctions. Investors are also worried about other energy companies, including Total (TOT) and Exxon Mobil (XOM), which have significant ties with Russia.

9. Societe Generale: Profits at the French bank's Russian unit fell 36% in the second quarter.

10. Danone: The French food multinational said first-half results were hurt by a decline in the ruble, and that it was forced to hike prices for some products in Russia due to strong inflation.

-- CNN's Olga Pavlova contributed to this report.

First Published: August 23, 2014: 10:12 AM ET


21.29 | 0 komentar | Read More

Coming soon: The Maxwell House K-Cup

keurig kraft

NEW YORK (CNNMoney)

Starting this fall, Keurig (GMCR) will partner with Kraft (KRFT) to offer Maxwell House, Yuban and Gevalia K-Cups.

Kraft has been selling a "single serve" coffee product for awhile that works in Keurig machines, but this will be the first time the companies are collaborating on branding and distribution.

Call it the morning beverage friendship. It's already caffeinating returns, at least for Keurig Green Mountain. The company's stock soared 13% Friday, sending the stock to its highest price ever -- over $135 a share.

To put it another way, you can buy roughly 220 K-Cups at the grocery store for the same price as one share of Keurig stock.

The deal hasn't done much for Kraft, however. Its stock was flat after the announcement.

Related: Should Coke buy Keurig Green Mountain?

Keurig Green Mountain Keurig Green Mountain stock popped another 13% after its deal with Kraft

Keurig already has dozens of K-cup partnerships, including ones with Dunkin' Donuts (DNKN), Starbucks (SBUX) and Snapple (DPS). This latest deal also adds McCafe, the McDonald's (MCD) coffee that is sold in stores, to the K-Cup offerings, since Kraft helps promote and distribute McCafe.

"They have all these partner brands. This really gives the consumer what they want," says Marc Riddick, a senior analyst at Williams Capital who covers the stock. "Keurig doesn't need to dictate to a consumer what they should chose."

Keurig's stock is up an incredible 77% since the start of the year, as the home coffee and tea brewing machine gains in popularity. The company joined forces with Coca-Cola (KO) in February, and there are plans for a cold beverage Keurig machine.

Related: Green Mountain soars on Coke partnership

"I am positive on the management team, but the bigger issue is the growth that is available in this beverage space," says Riddick. He notes that consumers are voting with their dollars and shifting more to coffee and tea and away from carbonated soft drinks.

The Kraft deal makes Keurig's device even more integral to a typical home. In some ways, Keurig has managed to do what smartphone makers have done -- the coffeemaker is now the focal point device for consumers to access a wide variety of beverages, much like apps on smartphones.

Investors are sensing there could be even more partnerships in the works.

First Published: August 22, 2014: 2:50 PM ET


19.33 | 0 komentar | Read More

Hypoallergenic nuts to solve nut allergies

ozy-nuts

NEW YORK (CNNMoney)

Gus had suffered — but luckily survived — anaphylaxis, a potentially fatal reaction. Tests later revealed he had allergies to peanuts and tree nuts, like almonds and hazelnuts, the mere scent of which makes his eyes and throat itch. Now 5 years old, Gus politely refuses his friends' high fives, lest they bear traces of M&M's or other nut-containing products. Hass carries baby wipes everywhere, cleaning every surface within his reach. Yet Gus still suffers a reaction roughly once a month, and he's experienced around 20 anaphylactic episodes besides.

More from Ozy: How does money smell?

Gus knows his allergies can kill him. "He asks tough questions," Hass says. " 'What happens to kids who die from food allergies? Are there food allergies in heaven?' "

At present, no treatment exists for nut allergies. An EpiPen can quell severe reactions, but the only widely accepted preventive measure is vigilant avoidance. It's rarely vigilant enough.

That's why researchers at the U.S. Department of Agriculture have shifted their focus. Instead of treating people who suffer from nut allergies, they're trying to treat the nut. That means "disrupting [the] structure" of nut proteins, says Christopher Mattison, a molecular biologist at the USDA's Agricultural Research Service.

More from Ozy: Crime that pays well unless you're a woman

Understanding how this works requires a bit of biology. Nut allergies typically flare when an antibody in the immune system, immunoglobulin E (IgE), binds to the nut's protein, triggering a reaction. So scientists have devised a clever tactic to trick IgE: modifying the shape of the proteins so the antibody can't recognize them.

To that end, Mattison and his colleagues treated proteins from cashew nut extract — proteins similar to those found in many other nuts — with a combination of heat and sodium sulfite, a chemical often used as a food preservative. Both disrupt crucial chemical bonds that help hold nut proteins intact, basically dicing them into smaller pieces. The researchers then mixed modified and unmodified cashew proteins with IgE from people allergic to cashews.

More from Ozy: Extreme food at state fairs

Sure enough, roughly 50 percent less IgE latched on to the altered proteins, as described in the Journal of Agricultural and Food Chemistry in June — indicating that the modified cashew proteins might at least dampen the severity of an allergic reaction.

But "there's plenty of work to be done before we can extend [this] into ... a practical solution," says Mattison. So far, scientists have only extracts, not whole nuts; at this stage, it's hard to know what a modified nut would taste like. And while the scientists have reduced IgE binding, they haven't eliminated it altogether — which doesn't help patients sensitive to even the tiniest amounts of nut protein.

Still, the possibility excites Hass and others. Peanut and tree nut allergies plague an estimated 19 million kids and adults in the U.S., and the number of children with peanut allergies in the U.S. has tripled in just over a decade.

More from Ozy: Me, mom, dad, grandparents all under one roof

Earlier studies have used similar treatments, but with harsh, laboratory-grade chemicals. The new study is the first to use a compound — sodium sulfite — that falls under the Food and Drug Administration's "generally regarded as safe" category, bringing modified nuts a step closer to being made as a food product.

Still, hypoallergenic nuts probably won't appear in supermarket aisles for several years. First, Mattison and his team want to tweak the treatment process so they can use a smaller amount of sodium sulfite, or an even milder alternative. They also want to explore whether the process can be applied to other nut proteins. So far, preliminary tests have revealed that it significantly alters the the structure of some peanut, pistachio and pecan allergens.

More from Ozy: Come to the U.S.: Buy a sports arena

They're also working to modify whole cashews, not just cashew extract — and to ensure that modified nuts taste the same as their unaltered counterparts. They'll also eventually need to test the method in a living system, such as mice and actual cells.

Mattison's approach, treating the allergen instead of the patient, is the opposite of oral immunotherapy — gradually scaling up consumption of allergy-triggering foods to dull the immune system's sensitivity to them. Oral immunotherapy has shown promise, but building tolerance can take months.

In a clinical trial, 84 percent of children tolerated the equivalent of about five peanuts, but only after 26 weeks of therapy, as described in The Lancet in January. And patients could still suffer severe allergic reactions as their immune systems learn to tolerate the offending food. In contrast, nut allergy sufferers could theoretically eat however many allergy-free nuts they want, whenever they want.

Even if researchers do successfully manufacture hypoallergenic nuts, some view them as the second-best solution. "My preference ... would be to actually decrease the allergic response of the individual," says Jessica Martin, a food allergy blogger whose son is allergic to pistachios, cashews, a host of other tree nuts and about 15 other foods. Oral immunotherapy "is the holy grail in my mind. I want a cure."

But other parents, like Hass, would embrace even a quasi-fix. "Anything helps."

First Published: August 22, 2014: 3:10 PM ET


19.33 | 0 komentar | Read More

The Coolest Kickstarter tops $9 million

kickstarter cooler

NEW YORK (CNNMoney)

More than 46,000 people think so. The Coolest Cooler has raised over $9.2 million on Kickstarter -- and it still has a week to go.

It's described as a "portable party" and includes features like a blender, waterproof bluetooth speaker, USB charger, cutting board and bottle opener.

It's the second highest grossing campaign ever, ranking just behind the Pebble (the smartwatch that raised a record $10 million in 2012).

"There's a point where products derive much more attention than any rational expectation would suggest," said Jason Greenberg, PhD and assistant professor at New York University's business school, "In a market where potato salad can raise $55,000, it's not that surprising."

What's more surprising is that this isn't Coolest's first time around the Kickstarter block.

Related: The 13 most WTF gadgets

Ryan Grepper of Portland, Ore., unsuccessfully tried to raise $125,000 for similar model of The Coolest In November 2013. He only raised about $100,000.

On Kickstarter, Grepper detailed the biggest changes this time around: Seasonality (July vs. November), more supporters and an improved design.

It's certainly worked -- but are the millions any indication of how it'll fare post-crowdfunding?

They could be.

"We've seen more and more angels and investors using [Kickstarter] as a minor league in terms of [gauging] customer demands," said Greenberg.

Related: Water balloon lovers pledge $645,000 on Kickstarter

According to PrivCo, a financial data provider on privately-held companies, U.S. cooler sales totaled $635 million in 2013.

Igloo Products Corp "dominates" the market, according to Matt Turlip, senior analyst at PrivCo. The company, which was acquired by VC firm J.H. Whitney & Co. earlier this year, owns 53% of the full-size cooler market.

"Maybe in a year or two, with $9 million in funding, The Coolest can hope to compete," said Turlip.

Those who pledged enough for the cooler ($165 or more) will have to wait until February 2015 to get the product (which will come in Margarita, Blue Moon and Coolest Orange).

But they will have saved a cool $130 -- it'll retail for $299.

First Published: August 22, 2014: 5:22 PM ET


19.33 | 0 komentar | Read More

Tourists flock to Colorado to smoke legal weed

Written By limadu on Jumat, 22 Agustus 2014 | 21.29

marijuana tourism Colorado dispensaries like the 3D Cannabis Center in Denver are sparking a boom in marijuana tourism.

NEW YORK (CNNMoney)

"We have a flow of tour buses coming in every day now," said Toni Fox, owner of 3D Cannabis Center, a Denver dispensary with an influx of Japanese and Saudi tourists. "We even get charter buses from Texas!"

Fox is billing her dispensary as a "tourist friendly" destination. It has a living-room-style reception room and an 80-foot long viewing corridor with rows of windows so customers can see inside the marijuana greenhouse.

"You can literally watch the cannabis you are purchasing grow right in front of your eyes!" boasts the dispensary's web site.

Fox estimates that 70% of her 200 daily customers are from out of state.

In Boulder, the Terrapin Care Station recreational dispensary gets at least of third of its income from out of state, according to manager Jarrod Guaderrama.

"I can definitely tell that all the people from Texas, Georgia, California made this their vacation spot because of legal marijuana," he said. "They'll say they're here because it's beautiful and they're going skiing. They'll say right after that, 'Plus, there's legal pot here.'"

The Colorado Office of State Planning and Budgeting says the state took in $19 million in tax revenue from recreational marijuana during the first half of the year.

But the state doesn't calculate how much of that is from tourism versus local buyers, and hard numbers are difficult to come by.

Colorado retailers began selling recreation marijuana on New Year's Day, and in what may or may not be a coincidence, the state also posted a record ski season for 2013-2014. Colorado hosted 12.6 million ski visits according to a local industry group, up 10% from the prior season, but industry executives can't say whether legal pot was a factor.

Most ski resorts and hotels don't allow smoking, but there's a niche industry popping up offering so-called "420-friendly" lodgings catering to this segment of tourists. Some bars and music venues also allow smoking in outdoor areas.

Entrepreneurs from outside Colorado are also cashing in. Rick Moore owns a bus tour company in Dallas, and started running buses to Denver dispensaries after marijuana was legalized. He charges $400 for the 12-hour trip, which leaves on Thursday and returns on Monday at 3 a.m., and includes two nights in a hotel. Colorado tours now account for about a quarter of his business.

"Some people might try to bring something back, but I discourage it," he said. "It's legal in Colorado but outside Colorado it's not, so I don't want anybody bringing it on the bus."

He added that not all of his Texan tourists smoke weed, but they still want to visit the dispensaries.

"They just want to go because they're curious," he said.

First Published: August 22, 2014: 9:31 AM ET


21.29 | 0 komentar | Read More
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