Tuesday, 20 October 2015
Brewdog extends its Crowdcube pitch again...again....again...agai....aga....ag...aaaaaaaaa
Brewdog is not the first and wont be the last to have multiple extensions to what was a set period - complete or not. Today they have extended their pitch yet again for another 11 days. For the first time we can see people actually cancelling their pledges to this company - they should be very careful. There is no comment on the pitch about this - for a new comer they simple have 11 days left on the original pitch which in fact should have finished weeks ago.
It make a complete mockery of the Crowdcube 'system' which is explained on the platform. Pitches are given a time frame to raise their money or they get nothing. Crowdcube have already allowed pitches to change their 'total' to help them to complete, now they are using the time frame. Research shows that this time allowance affects investment decisions. So it might be ok to say that a 90% completed pitch should get another week to make up the shortfall, but not to extend pitches ad infinitum.
If you are going to have timeless pitches then just be honest and say so Crowdcube and stop taking the Michael out of your customers.