In a recent article on the Business Insider site, Luke Lang, the PR in Crowdcube's cat, stated -
"It's quite common. As much as we like to think we fund every business, we don't. Only around 50% of businesses that go live on the site reach their funding target. That number's been steadily increasing over the years."
This idea that 50% of the pitches they run are funded is simply wrong. Of course by using the prefix 'around' and not being a numbers man, Lang can get away with this hype. The real figure is closer to 30% than 50%. Why - well because most of the pitches on the site are uninvestable through either being ludicrously over valued or simply nonsense. Punters are beginning to wake up to this fact so if anything the percentage of live pitches completing is falling not rising.
Its just typical of the sort of PRing that Lang comes out with and which journalists seem to print unchallenged.
Seen this? http://www.nurturemoney.com/crowdfunding-reached-tipping-point/
ReplyDeleteThanks - have now. More of the same BS PR - no facts to back it up as there is no evidence that investors will ever see a single penny of their money again let alone any ROI. Love the bit about the forums - hahahaha - if you dare post anything that is detrimental to the site or the pitch you get banned. I have been banned and removed on around 30 occasions but there are ways around this as they make it so easy to join that any child could manage it.
Delete