What Investment now has a regular column by that well known independent financial journo Darren Westlake. Topic - well of course its how brilliant his company Crowdcube are.
See here - http://www.whatinvestment.co.uk/easy-exit-crowdfunding-investment-2553600/
And here - http://www.whatinvestment.co.uk/is-there-liquidity-for-crowdfunding-investments-2553774/
You will notice that all the plus side is wrung out until even the pith has gone , whilst with the usual guile Darren skates around the downside.
At least have the sense to call it what it is - Advertorial.
All this from a guy who still claims to be a serial entrepreneur. Well that's probably because the only company of any significance he has founded went into administration and was sold (at the same time Darren resigned) for next to nothing, then went into admin with the IP being bought in a prepack and closed. All in all we estimate that investors lost around £80k, not to mention creditors etc. You wouldnt expect anything less from a Crowdcube founder. Mind you, he is excellent at receiving rewards.
Oddly all reference to this company, ID Telecommunications, has vanished from Companies House but we already hold the administrator's report. CH Google search shows the company but then you click the link you just get
This page cannot be found
Which is odd. It isnt to be found under Darren Westlake's various directors names at CH either. Wonder why that is? Only collapsed in 2006 and was certainly there a year or so ago when we wrote about it here Is it possible to get companies removed from CH?
https://www.linkedin.com/in/darrenwestlake/?ppe=1
ReplyDeleteHe worked there 2000-2005
No, he founded the company with his brother in 2000. It got into serious financial difficulty so they sold what was left for £50k. It then went bust and in prepack deal the IP was purchased by the same company for just £20k. He likes to claim this as some sort of entrepreneurial success - which is why we pass on the truth.
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