Monday, 28 March 2016
Crowdcube's Glassfit in liquidation.
Ex Crowdcube pitch Glassfit Inc has gone in to liquidation owing over £600k.
The company completed its Crowdcube pitch for £120k, although we are not sure the funding ever went through. Alex Foster is the CEO, or was. The name was changed to Race Yourself. We wrote about them -
http://fantasyequitycrowdfunding.blogspot.co.uk/2015/03/the-case-of-glassfit-inc-or-race.html and the internet has several articles saying they did raise the money on Crowdcube.
It is very possible that this one was a scam - certainly the company's software for Google Glass was so poor that it is very surprising Crowdcube ever took them onto their platform. Mr Foster is silver tongued.
Not one of Crowdcube's finer moments this one.