Can Crowdcube pitches get more ridiculous?
Qtsy is raising £150k valuing their new enterprise at £1.2m.
The Crowdcube pitch claims - ' Joe is a successful entrepreneur, qualified vet and media personality. Founder of Pets' Kitchen, Vet's Klinic and tails.com, and media vet on ITV This Morning.'
So how does this look in reality. We do not have a definition for a 'successful entrepreneur' but we are pretty sure it has to contain some success.
Joe Inglis was indeed involved with Vetskilinic before he resigned. The company has run up losses of over £1.4m in its 9 years of trading - is that a success. Tails.com has not filed accounts as its too new and Pets Kitchen is the company that runs Vetsklinic so this is shadow boxing or just plain wrong. All in all Joe has not had a single success; with two other businesses he started closing having not traded. Hmmm. He has appeared on Telly though, so that bit is true.
So much for Crowdcube's due diligence. Really guys you must try harder if you want to really con people out of their money.
Despite my general reservations about 95% of the businesses pitching on these ECF platofrms, I actually think this one has a chance. The app is a simple proposition and is easy to use (you can be in and out in seconds), if he can build a large regular user base, the $$$ will surely follow.
ReplyDeletei dont disagree with the idea - its the claims made by its founder I would run a million miles from. In the end growing a start up is all about the ability of the very small, in this case one man, team. He is not to be trusted.
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