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XOXO shut down its subscription platform before it launched
Last October, Kickstarter announced that it was ending its subscriber-based crowdfunding platform, Drip, but that it was planning a successor project with XOXO festival creators Andy Baio and Andy McMillan. Now, that project has been shut down, according to its creators.
Drip’s unnamed successor project was designed to provide “financial stability and transparency to independent artists.” It came out of conversations from Kickstarter founder Perry Chen and Baio, Kickstarter’s former CTO, with the intention of migrating Drip creators over to it before shutting it down later this year. Kickstarter provided seed funding for the new platform, and Baio and McMillan had brought on people to develop and run the company, but explained that…