Easy Property raised £1.36m from 376 investors on Crowdcube in 2014. The company, also known as Eprop, was valued then at £60m.
After going nowhere, they did a deal with another group also going nowhere. The result has been a forced sale to Tosca Aquisition, who have paid a pittance at £17.85m. Crowdcube investors have lost out again. Although technically this business has been sold rather than dissolved so we are sure it will get their approval. After EIS and loss relief some investors might even break even.......doesnt that tell you something about how stupid we are being.
I would say that punting out Eprop at £60m in £2014 could be classified as highly misleading. Clearly today's value would confirm that. So FCA, what would you say?
Look guys you are really making this far too easy for us. We yet again predicted this mess here . Our members will be able to benefit from our knowledge and your investors will no longer put up this sort of thing. Let me know when you come to your senses and want some advice.
Spending £48 a year on ECF.Buzz, to avoid losing many hundreds, is looking increasingly like plain common sense.
