The collapse of ‘idea factory’ Quirky Inc. has left many of its inventors in the dark as to what will happen to their unproduced creations and missing royalty payments, reports The Deal’s Kelsey Butler. Venture capital-backed Quirky, which sourced ideas for new products from an online community and subsequently manufactured them, submitted a Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of New York in Manhattan on Sept. 22 following months of trouble. A number of sources who pitched ideas to the debtor as part of the Quirky community, or weighed in on the inventions of others as so-called influencers, told The Deal the company has gone radio silent since its financial troubles began. The New York company admitted as much in a Sept. 3 blog post to community members. ‘It has been some time since we have communicated with all of you as to the current state of Quirky. We sincerely apologize for the lack of clarity as we continue to explore all possible options,’ the company said. It continued: ‘As you know, Quirky product evaluation and development projects have been temporarily suspended. During this time we have undertaken efforts to market the company as part of a comprehensive sale process. Some of you have reached out to us, and we apologize for not being able to respond to each of you in turn–the marketing process is where we are focusing our efforts.’
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