Fraser Doherty has run Superjam or Eat Super for many years. They raised around £300k on Crowdcube a few years ago. He is also a hands on director Beer52, an Edinburgh based beer subscription site which raised £100k on Angels Den in 2014 and then another £800k privately via HNW individuals last year.
We have written about both here and here.
It is difficult to understand the figures as related to both companies. Superjam should, according to the Crowdcube vision, be making over £1.5m profit but instead made £3k on what appears to be a modest turnover. They seem to have lost all of their major UK listings apart from a one jam , heavily discounted offer in Waitrose. They were everywhere.
Beer52 have done better but articles that appeared after the 2016 funding stated that their 2015 turnover was £2.6m and in 2016 it was going to be £8m. Nothing in the accounts filed (to June 17) suggests figures of this size. Losses have become breakeven over the period. Not the vision that Angels Den promoted.
Anyone any ideas?
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