A mass exodus of investors must be Crowdcube's worse nightmare.
Their latest attempt to entice people to part with their money has been a total flop. With only 11 days left, a meagre 32 of their tens of thousands of supporters have put in a tiny £140k of the required £500k.
Of course the masters of PR are unlikely to allow this to tarnish their mythical status in the world of ECf. We'd expect the 11 days left to suddenly become 111 and at least one large £100k sum to spring from a nearby bush where it had been loitering with intent. You know the story.
We think the main problem maybe the fact that Crowdcube 'experts' will be picking the fund's winners. That is likely to have investors heading rapidly for the exit.
Worst idea they've ever had. Total joke of a "product". Give me £500k to invest in dud businesses and I'll only charge you 3% for the privilege.
ReplyDeleteThe EIS fund would have given them more control over which pitches gained investment and which didn't. The so claimed (ticked the box) sophisticated investors would have followed the EIS fund and any pitch that didn't get invested into by the fund would have suffered. So the fund would have had to invest in every pitch to back their DD and to be seen as Impartial. Laughing out loud here at even using that word (Impartial) anywhere near the name Crowdcube. In a way its a shame it failed or is failing as it would have highlighted just one of many flaws in the company.
ReplyDeleteKeep up the good work.