Community update 22.08


#1

Dear community,

While we still did not get the final version of the full announcement approved by our negotiation partner for publishing, we would like post a bigger update to you this time. I am now in China with the team, getting everything ready for shipping all of the pending orders, accessories, and replacements out.

Now I would like to tell a bit more details about the situation.

As you remember, the key reason for this delay for some of you, has been issues with our working capital due to funds tied up in different places like supplier deposits, payment processors, etc.
During this time we have been focused on 2 things:

  1. Shipping Vs in smaller volumes, balancing the funds available and units we ship. Shipping Vs is our number one priority, as we realize that everything depends on it.
  2. Securing needed investment to get all of the units shipped out quickly and to make sure not to end up in the same situation in the future.

Since March we have had 100+ meetings with various investors of different types around the world. We’ve met Venture Capital, Private Equity firms as well as family funds, banks and strategic investors. Our top priority during this process was to ensure that we would stay customer-first and would not compromise on our vision of community developed products, no matter how big offer we would get. The biggest offer was from a Chinese fund offering 50 million USD for 51% of the business. (With a heavy heart we had to reject it as it compromised our vision too much; it would have ended all of this. Eve for our team is way more than just money, it’s something we are really passionate about and want to do in the future. We have devoted our lives on this for quite some time).
We had all kinds of meetings, some of them have been short 15 min calls ending with a polite “No, thanks”. Some have lasted for 5 months going as far as due diligence stage with lots of flights in-between, but getting cancelled at a very last stage due to some disagreement in the long term vision of the company. For example, one of the potential tier 1 investors wanted us to focus on our own OS instead of hardware devices.

What was the most frustrating during this process was extreme confidentiality of the discussions we had due to strict NDAs, and the nature of this business (it’s a small world and big investors talk to each other, if we would have spilled publicly information that was not supposed to be disclosed about one of the investors, the word would spread fast). Also their analysts checked community frequently so they would know who we are talking about. So we definitely did not want to ruin any potential partnership by posting premature info. It’s been a challenging process, as typically investors don’t invest alone, they invest in syndicates so sometimes it would be really hard to get a “no” from our potential lead, as investor would wait for others to say “no” first.

Since March we also got equipped with some of the industry experts (mentors) like Robert Krakoff (the Razer Guy). Once again I really want to emphasize that it has been really hard for us to stay silent regarding what we are doing, but it would put whole operation at risk. Getting all of the customer orders shipped is our top priority that is the reason we did not want to take such risk.

Now we are finally done with this process and we will be able to share great news as soon our announcement is approved. The reason it takes time is because it’s not only 1 investor that is investing in Eve.

I guess the key message of this update is that our slowness is finally coming to an end and you will know all of the details any moment now. We are truly sorry for all of the silence and delays from our side. At this point words are not enough, it’s time we act! I am now in China until all of the Vs get shipped out. In the next update, assuming we have received the permission to publish it, we will tell about our investors and what possibilities they open for Eve’s future. I can tell that they bring value way beyond money!


Here I am in China with some of the team after long day of talks with the partners and investor parties.


#2

Seems legit :slight_smile:


#3

That’s an actual update. Thank you!


#4

Nice updates! :grinning:

The hardest part is to keep silent.

Next hurdle is “Support”.

Hope to get V ASAP.


#5

I don’t see answer here on two questions I have for now: will my order created at December 4th 2017 be fulfilled until the end of August 2018? Only one week left until the final-final deadline etc. And the second one: what’s about compensation policy for long wait? :speak_no_evil: These two are pretty important for community at the moment, more than information about how many investors you’ll get. Good to hear that your company will move forward though


#6

bruh. u look like ur 17 in dis pic. @Konstantinos


#7

Hi Eve Team, great effort, really hope everthing will come out right for this extraordinary company. I still have faith in you and I’m sure my V will arrive in a short time. Stay focussed and keep your drive! All the luck and wisdom,
Gus


#8

Seems positive enough this time, I wonder if without the investor will u still go ahead and ship out all the pending orders and replacements?


#9

Hi @Konstantinos,

Glad to know you are in China.

I recognized the place… It’s this one, right?
http://f.amap.com/3cxpO_03C5sqD

Could I buy you a beer :slight_smile:

Btw I just found out my screen cracked in my bag… Are repairs being handled in Shenzhen? Thanks.


#10

Superb news! Sounds exactly like the eve I wanted to support from the beginning! :slight_smile:
I bet all the people who want their refunds are not happy, since nothing about this has been mentioned, but for me as a (:crossed_fingers:) soon to be eve V owner, this is fantastic news. Very transparent, commited. Like it. A little sad, about all the misscommunication beforhand, but if things stay on this course, eve will keep me as a supporter :smiley:

I am also starting to be curious about the investors!


#11

Would be great to meet! I’ll pm you wechat id

Thank you for your kind words guys. We will keep you posted! Cheers!

@tld8102 I think it’s the light in the end of the tunnel that reduces my age :smiley:


#12

Glad to see a proper Eve update :grinning: I suspected that the silence was because of the negotiations and NDA’s so I hope this update is a sign that all of that is past and that Eve communication will start to be more frequent and detailed. It’s what holds the community together and keeps the users committed to Eve and its ideas.

And I hope that I’ll finally get my V after all this waiting :slightly_smiling_face:


#13

Now that’s an update :slight_smile:

All sounds like you’re finally getting there, been a long time coming but I’m excited it’s reaching it’s conclusion and hopefully we’ll start getting our dispatch emails soon enough which does put a smile on my face :smiley:


#14

Thanks for the update, I hope to hear news about shipment soon, as you have roughly 9 days. I also hope to see the quality issues worked out that I have read about and the support issues. I really want a device like this to work well. It’s a great form factor, and the fact that it is still a full computer with all of the requisite ports means that I won’t have to compromise on gear.


#15

Great update, I’m actually quite happy you rejected the 50 mill Chinese fund which would’ve effectively made them the majority owner and change eve’s direction, probably for the worse.

Stay true to what you and your team intend eve to be, I’m sure plenty of us are looking forward to finally have it in hand (my dbrand skin can’t wait!)


#16

Hi @Konstantinos ! Could you clarify now or at least in the next update about the refund timeline and the possible refund cancellation?
Thank you.


#17

In an earlier update, @Konstantinos said they would absolutely do a compensation program or someway to make everyone “happy” despite the delays. I really would like to hear more about this because a 10+ month wait and all the complications that came with it is a hard pill to swallow.


#18

Thanks for the update. I can expect to receive my V during September or at the beginning of October, if my V is shipped at the end of this month as expected. Because I’m not sure how long the shipment will take from China to US. It states “UPS Priority” in my order, but there is no UPS Priority service on the UPS website. There is only USPS Priority service that I know of, which is United States Postal Service. It’s completely different company from UPS, which stands for United Parcel Service. So based on my past experience buying things from China, it should take at least a month to receive my V.


#19

Robert Krakoff? The man behind Razer?!
That’s just incredible, I can’t wait to see where Eve goes from here.
The situation isn’t great at the moment, hope everyone gets their Vs soon.
As a satisfied hyper early bird, I hope this mess is resolved, because we’re in this together, a community working as one to create devices in ways a traditional OEM cannot.


#20

Y, cauz of a liability…
Honestly I don’t think I care much where it goes after I got my refund.