After Initially Locking Down Funds, PayPal Relents And Gives GlassUp Access To Indiegogo Cash
The GlassUp, an ambitious Indiegogo project that wanted to take the concept of Glass and make it more about passive consumption of content than about privacy-treading recording, video and photography, was in danger of losing a full third of its funding earlier today due to a PayPal rule, but is now on track again after the payments giant reversed its initial decision.
In what was potentially a disastrous development for hardware companies and others that use Indiegogo to fund projects and collect money from backers to help devices enter production, PayPal had at first stated that any backing pledges made via its service would have to be withheld until after GlassUp delivered its hardware to buyers. That’s fine and dandy when it comes to traditional e-commerce endeavours, where a product is generally shipped before someone is charged, but awkward when the whole point is to fund the creation of…
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