Just five days after launching its Kickstarter fundraising campaign, Archie Comics has decided to cancel it and cited negative reaction and criticism from people as the main reason why they pulled it down.

The company initially planned to raise $350,000 to "accelerate" the launch of three new comic book series by Adam Hughes, Chip Zdarsky, and Dan Parent, according to The Hollywood Reporter. The three new comic books would be a summer re-launch of its primary Archie series - Jughead, Betty and Veronica, and Life with Kevin.

And while people are pretty excited about these new comic books, they weren't thrilled with the Kickstarter campaign.

"It was no longer about the books and how amazing they will be," the company explained in a statement.

The statement added that "while the response to these new titles has been amazing, the reaction to an established brand like Archie crowdfunding has not been."

The intention of the fundraising campaign was to enable them to work on the series ahead of a schedule that is allowed by the company's own funds, but people did not seem to like it and it "became another conversation, leading us further away from the purpose of this whole campaign."

They expect that their goal would be funded, but because of the negative response they have received, the attention has veered away from the comic books and how amazing they will be. "We don't want that. This is why we're shutting the Kickstarter down today," they explained.

The company also said that they do not regret trying something new, since that is what Archie's has been about for the last six years. They promised that they will continue to be a fearless, risk-taking and vibrant brand that will "do its best to embrace new platforms, technology, and ways to interact with fans."

People were furious with Archie's Kickstarter campaign, because many were suspicious that a publisher that has been around for 75 years would require financial support to produce new material lines. They were also miffed with the reward levels, which included being followed on Twitter for $15, and digital downloads of the first issues of each of the new series for $20.

As for those who donated before they closed down the page, the company said that they will receive "special thank you gifts" from the publisher. They managed to raise $34,000 within five days, thanks to 642 die-hard fans who contributed to their campaign.