Type of business Private Headquarters New York City Subsidiaries Undercurrent Founder Ben Kaufman | Available in English Key people Ed Kremer, CEO CEO Ed Kremer (31 Jul 2015–) Founded 2009 | |
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Parent Quirky, Inc. (2009-2015)
Q Holdings, LLC (2015-present) Profiles | ||
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Quirky is an invention platform that connects inventors with companies that specialized in a specific product category.
Contents
The path to quirky
History
Quirky was founded in 2009 by Ben Kaufman.
In April 2010, Quirky received $6.5 million in Series A venture capital funding, led by RRE Ventures. The company later received a $16 million Series B round in August 2011 led by Norwest Venture Partners, and a $68 million Series C round in September 2012 led by Andreessen Horowitz and Kleiner Perkins Caufield & Byers. Then, in November 2013, Quirky raised $79 million in Series D funding from GE as well as its venture investors Andreessen Horowitz, Norwest Venture Partners, RRE, and Kleiner Perkins Caufield & Byers. Part of the deal included a $30 million investment from GE, as well as a partnership to build 30 connected-home gadgets together in the next five years.
In 2011, a reality television series named Quirky debuted on the Sundance Channel following events at the Quirky office.
The May 6, 2012 episode of CNN's The Next List featured CEO Ben Kaufman and the company.
On July 31, 2015, Ben Kaufman stepped down as CEO following a layoff of 111 employees due to trouble getting funding.
On September 22, 2015, the company filed for Chapter 11 bankruptcy. The company's assets, including its website and most of its products, were bought by Q Holdings for $4.7 million in late 2015, despite objections from General Electric. The Wink platform was sold to Flextronics for $15 million in November 2015.
It was announced on February 8, 2016 that the company had new financing and owners. The company relaunched sometime in May 2016.