Friday, 27 April 2018
Crowdcube versus Seedrs - who would you want in your corner when it all goes tits up?
A direct comparison is possible between the way Crowdcube deal with shareholders in a failed company and with how Seedrs deal with them.
You may remember the debacle that was Ethos Global - they ripped £800k off Crowdcube investors and then allowed the company to be put into liquidation whilst taking that money and spending it on assets for their new venture Soma London England. The Insolvency guys are still trying to find out what happened almost a year later. Help for CC investors from CC; absolutely none. We have copies of CC emails from the CC 'team' telling investors that really they should talk to the founders of Ethos - there is nothing Crowdcube can do. That's it. We emailed them on behalf of some investors who asked for help and got no response at all.
Crowdcube have a reputation for this shabby behaviour - we have highlighted many instances on here.
So compare this to the developments with Nick Hatter's Giftgaming - which funded via Seedrs. Nick has been a bit of a naughty boy - according to Seedrs. Ignoring the ins and outs of what went on with his now defunct company, Seedrs have pressured him to give up his 78% share of the proceeds of the liquidation, in order to give these to the Seedrs investors. They have spent a considerable amount of time and effort to reach this outcome and have sent investors a lengthy email to explain the current situation. It is still a loss for investors, but it shows that at least Seedrs care for their clients - the investors who make Seedrs tick.
Crowdcube on the other hand couldnt give a tit, let alone three.