CoinJob has failed to meet its requisite funding goals during their Initial Coin Offering (ICO) according to an announcement on their website in February, now it informs on error.

The project for a low-fee, distributed labor marketplace for computer-based work was launched in August 2017 and planned to raise up to 60,000 ETH, but collected $7,639 (less than 30 ETH at press time), according to ICObench.

“Definitely after the first day of the pre-sale, we knew we weren't going to make it because we just didn't see that many people are talking about it,” a former team member told Cointelegraph anonymously.

According to the source, the biggest problem was insufficient investment in marketing and not giving themselves enough time to advertise. “I think our idea was solid and our team was fantastic but, at the time, there were not standardized routes to having a successful ICO, so we were doing a lot of stumbling around in the dark trying to figure out what worked and what didn’t,” he said.