Edison Nation, Inc. Launches First Crowdfunding Micro-Brand on Kickstarter; The MasterSous: The 8-in-1 Smart Cooker
PHILLIPSBURG, N.J., Nov. 07, 2018 (GLOBE NEWSWIRE) -- Edison Nation, Inc. (“Edison Nation”), a full-service product development company, has launched its first micro-brand crowdfunding campaign on Kickstarter, the MasterSous: The 8-in-1 Smart Cooker.
MasterSous is a Wi-Fi-connected cooking device that can sous vide, deep fry, simmer, sear, sauté, boil, steam and slow cook, all while autonomously stirring the food. Users can use the MasterSous mobile app to remotely adjust cook times and control the automatic stirring mechanisms that keeps food in constant motion for even cooking.
“The MasterSous is an incredible product sourced from our proprietary innovation search engine, which to-date, has received 100,000 idea submissions, resulting in over $250 million in retail sales,” said Chris Ferguson, CEO of Edison Nation, Inc. “As a true full-service product development platform, creating value for both innovators and our shareholders alike, we are uniquely positioned to bring products to market at light-speed. This represents our first crowdsourcing campaign as a combined entity, and we are already extremely pleased with the robust interest in this product, which has already exceeded our pledged goal by more than 300%.”
Ferguson, continued: “By utilizing the efficient and effective opportunities that exist with crowdfunding, we are able to identify proprietary products through idea submission, find the ‘best of the best’, and launch them into the market quickly. We are able to not only source these great ideas, but assist with everything from manufacturing and product development, to fulfillment and logistics and sales and marketing. This de-risked business model provides both the inventor and our companies a significant opportunity to grow quickly, while realizing maximum sales potential for a given product.”
Edison Nation’s Crowdfunding Approach
Edison Nation’s Crowdfunding tool was introduced to drive higher success potential for ideas to be commercialized. Investors submit their ideas through the Edison Nation platform (located on its website www.edisonnation.com), and for all ideas chosen from the Crowdfunding search, Edison Nation will handle the costs to develop the products and run their respective crowdfunding campaigns. Successful campaigns will provide a stronger position for products to be commercialized, either directly by Edison Nation, or through traditional licensing agreements.
Edison Nation’s proprietary platform ensures privacy of intellectual property and streamlines communication and negotiations with innovators. For over 10 years, Edison Nation has been and continues to be the trusted destination for innovators, partners and consumers alike and the trusted leader for quality innovation.
About Edison Nation, Inc.
Edison Nation, Inc. is a vertically integrated innovation aggregation and full-service product development and manufacturing company, offering innovation sourcing, design, sales, fulfillment and shipping services. Edison Nation’s model is to provide a risk mitigated platform that connects innovators with companies to bring new products to market. For more information, please visit www.edisonnation.com.
Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing the Company’s views as of any subsequent date. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company’s control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including consumer, regulatory and other factors affecting demand for the Company’s products, any difficulty in marketing the Company’s products in global markets, competition in the market for consumer products, any inability to raise capital to fund operations and service the Company’s debt. Additional information that could lead to material changes in the Company’s performance is contained in its filings with the SEC. The Company is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.
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Released November 7, 2018