So it is possible. Companies can raise money via Equity Crowdfunding and deliver what their projections show. Hats off to Vivobarefoot whose funky shoeless shoes have attracted a loyal following, increasing sales and profits.
All the bullshit we keep getting about how you cant expect startups to get close to their projections is now shown to be just that. Although granted this company is not exactly a new start.
Vivo raised £1.3m on Crowdcube (yes) in 2015. Heavy losses have now been replaced , as projected, with a £650k profit for YE June 18 on rising sales of over £19m. This is all ahead of its projections.
The success is based on a product that converts users almost instantly. I have not tried them but played golf a year or two ago with a couple whose admiration for each other was only surpassed by their admiration for their Vivo footware. And clearly the company is being run well - you cant make north of £600k profit otherwise.
So there you have it - real proof not PRing, that Equity Crowdfunding can work for business and investors. No ROI yet but ......................................
Worryingly, there is no mention of any this on Crowdcube!
Their products are awesome. Glad to hear they are profitable as id be upset if I could no longer buy running trainers from them. On the subject of exercise, I wonder how 1Rebel are doing :~O
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