After taking tens of thousands of crowd-funding pre-orders for a high-end pair of “3D sound” headphones, audio startup Ossic announced this weekend that it is shutting down the company and backers will not be receiving refunds.
The company raised $2.7 million on Kickstarter and $3.2 million on Indiegogo for their Ossic X headphones which they pitched as a pair of high-end head-tracking headphones that would be perfect for listening to 3D audio, especially in a VR environment.
The team worked exceptionally hard and created a production-ready product that is a technological and performance breakthrough.
Through January 2017, the San Diego company had received more than 22,000 pre-orders for their Ossic X headphones.
This past January, Ossic announced that they had shipped out the first units to the 80 backers in their $999 developer tier headphones.
In the end, after tens of thousands of pre-orders, Ossic only built 250 pairs of headphones and only shipped a few dozen to Kickstarter backers.
A group of over 1,200 Facebook users have joined a recently-created page threatening a class action lawsuit against the team. »