[UPDATE: Please take time to read the comment from Robert Barnes from Fundry, as they changed their policy and explained their choices!]
Fundry, a digital platform to finance software development, is shutting down.
Two days ago I wanted to give some funds to a WordPress plugin developer that maintains a great LightBox plugin, Dan Zappone, to encourage further development of this great tool.
At first, I liked very much Fundry. The idea was cool: let developers have a simple way to do fundraising for their projects. Neat.
In the end, I didn’t use the Fundry service because I didn’t like Fundry’s policy: they ask you to buy Fundry “credits” in advance before being able to actually fund any project.
Today, I get a message saying that Fundry shuts down… giving a 2 weeks time to get your money back.
Hmm…this remembers me of a Simpson episode where Homer, in the Itchy & Scratchy theme park, changed all his dollars in Itchy & Scratchy-land money. In the end, all shops of this place showed a disappointing sign: “We do not accept Itcy & Scratchy-land money anymore”.
And what if some people have other things to do in those two weeks, rather than reading Fundry’s email, or what if this email gets in your spam box?
This is the email I’ve received, read well the bolded part:
I’m sorry to announce that we will shortly be shutting down Fundry.com.
We appreciate the effort all our developers and funders have put in over the last 18 months, but unfortunately the service is currently not financially sustainable, and we can no longer commit to supporting it.
Following are the steps we will take to wind the service down in a quick, fair and efficient way.
1 – With immediate effect we will no longer be accepting new projects or pledges.
2 – All funders now have 2 weeks to retract their pledges. We will reimburse PayPal fees for both your pledge and your retracted pledge. All pledges that have not been retracted by 2nd March at 23:59 EST will be converted to donations for the pledged developer.
3 – All developers will then have 2 weeks to withdraw funds. We will reimburse PayPal fees for all withdrawn funds. All pledges that have not been retracted by 16th March at 23:59 EST will be converted to donations to Fundry.
Once again, we’re sorry that we can’t continue Fundry. Thanks again for your support.
I am really sorry that Fundry is “not financially sustainable”, but do you think this behaviour is ethic towards open source developers who believed in it?