Mindgenius employed us to help run their Crowdcube campaign. We recommended another platform but they had already signed with CC. The campaign failed but now Mindgenius is looking to take great leaps forward.
Mindgenius, a Scottish based B2B software company, employed ECF Solutions to run their 2016 ECF campaign. Unfortunately by the time they came to us, they had already signed to CC as we would not recommend a company in this sector for this platform.
Despite a convincing pitch, the Crowdcube investors didnt see glossy rewards and were blind to the possibilities. We could, but as we work on commission based on a successful campaign, it doesnt help much!
The company has just announced future growth prospects, based on its new product Barvas, over the next 5 years, that make the Crowdcube valuation of £5m pre money look like a bargain. Anticipated revenues are to grow to £10m by 2022, which is way ahead of the Crowdcube projections. The Crowdcube pitch was based on the future growth of Barvas, so we were spot on there.
That's what you get with credible product development and an experienced team - real growth. It is just a shame that the Crowdcube investors prefer to cash in their chips for cases full of beer and empty promises.
Still we believed in them and that does us some credit. One to watch.
Thanks for the positive words and the "Free" help with the initial campaign. It was a shame we never convinced enough investors to meet our initial target as i think they would have enjoyed the journey. There are many ways to grow a business and crowdfunding may not have worked out for us but we learnt alot. We remained confident in the product, Barvas, and the team here and that is probably the key to overcoming setbacks along the way. Best Regards Ash
ReplyDeletePleasure working with you all. Im sure had you been open to changing platform we could have cracked it. But its all water under the bridge now and its great to see your progress. Just shows that using ECF needs to be carefully planned in advance.
Delete''Will'' your comments have been rejected as they do not add anything to the debate. Please if you wish comments to be published make them relevant and polite
DeleteDo you mean where I asked what "point" they had proved? Just trying to understand the headline...
ReplyDeleteNo it was the other post. But since you bring this up we had better answer it. The'point' is that this was business we selected as being a good bet for CC investors. CC investors couldnt see the opportunity because there were no rewards and it was B2B not some consumer nonsense. They didnt back it - they didnt take our advice and they have missed out. That is the point. It reinforces pretty well everything we have said on here for the past 16 months. We think that makes it quite a large point but you may disagree. I think it's made pretty plain in the post if you read it.
DeleteAh right. I thought you were just saying that CC should always be avoided (through "proper planning", and that you were assuming they would have done better elsewhere. This is based on your second sentence, and the last sentence of your response to Ashley. Not as clear as you thought!
ReplyDeleteAs for the other post, I didn't call anyone an imbecile, or insult CC investors by implying that they only go for B2C, or that all B2C is nonsense, so why not publish and see what others think? Which bit did you think was anything but polite?
That is exactly what we were saying - for non consumer pitches other platforms will get you better results and I know we could have got them funded elsewhere. This is getting a little tedious so please dont bother to post anymore as they will not get published. You can start your own blog if you wish.
ReplyDelete