Ben Kaufman on Why Quirky Failed

Quirky, a 2012 startup darling that burned through about $150 million in investment by 2015 and had to layoff about 20 percent of its staff, has figured out its next move, CEO Ben Kaufman says. And he's hopeful he'll land a fresh round of funding to help him, he told attendees at the Fortune Brainstorm Tech conference on Wednesday. Quirky is a platform that crowdsources inventions. Anyone can submit their ideas, others vote on if they like the idea and can modify and contribute to it.