Tuesday, 17 April 2018

Is this another smash and grab on Crowdcube?

Jewelstreet is back on Crowdcube. It last funded here in 2014 and promised sales of over £30m in 2016. Sadly it has only just managed around a hundredth of this. Maybe this time round they will get to have a better go.

There has been a complete refurbishment of the management suite, led by the main shareholder, Guernsey based businessman Paul Fraser. Mr Fraser is a very busy man so how much time he will spend on this company is questionable. In fact Jewelstreet doesnt even get a mention on his Linkedin page. (Well it may now).

I suppose this all depends if you believe what they say in the pitch. The hard evidence we have is that for 3 years it has been a complete flop. But that is the same with pretty well all of the Crowdcube businesses. Yet you still fund them.

In the first pitch, which smashed its £100k total and finished on £180k, the company told investors via an article in Insider Media, here, that a likely exit date was 2016.

We wrote about them before here

 Non omne quod nitet aurum est!

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