When this campaign completes and it already almost has on day 2, Cauli Rice or FullGreen will have taken £4m off Crowdcube investors. Yet they have never once managed to produce figures that compared to the ones in the various campaigns.
It is a truly incredible story. If you check out the Ocado/Waitrose reviews of the product, they are mixed to put it politely. The smell seems to be the main problem. Now it would appear that the founders are pinning their hopes on the US army to buy in volume - assuming they wont mind the smell?
You can imagine the squads at Camp Pendleton signing - 'Cauli Rice, tastes like .ice, smells of .ice, Hmmm Good, Cauli Rice'. Sir YES Sir. You can fill in the missing letters.
The valuation this time is just above the £9.5m from early 2017. The company claims this is legit and yet again wheels out friends, Blue Box, to verify this. Well Im sorry but the previous valuation was based on the previous one and the so on. So if the original is nonsense (and it was) and the promised growth has not appeared for the last 3 years (which it hasnt), then this one is equal nonsense. However just for variety Blue Box have decided this time to use DCF as their chosen method. You are having a laugh guys?
Yet more promises of fantastic new listings come forth in the new campaign - like the other 4 campaigns. Trouble is most of the other ones fell through. Irrelevant but mind bending stats on the position of Cauli Rice in the world's rice hierarchy replace the real numbers. Suffice to say that for yet another year, the company is loss making. In the last raise in early 2017, they showed profits for 2017. In the earlier raises, profits by now had made them millionaires. The pitch shows no profits for 2017 and only a promise of one in the UK for 2018. We have all heard that one before.
Cauliflower rice is a great product. Its available fresh at most supermarkets, you can very easily make your own for next to nothing and it takes a just a few minutes. So why would you want some foul smelling (tasters notes) packet, long shelf life, alternative? And it purports to be a health food!
Good luck to all of you already on board, we have been warning you for years about this and the previous product these guys marketed - Righteous Salad Dressings. We were right about Righteous, so you'd better hope we are wrong about Cauli. You can find numerous posts here.
Full Green ahead.
I contributed to the last raise and I'm surprised that they are back so soon.
ReplyDeleteI'm finding quick return-raises to be common on crowdcube.
you might enjoy the last few days' Dilbert cartoons (28/11/17 onwards)
ReplyDeleteI have invested modest amounts in all but the first round because I believe in the product and the patent behind it. People want mega healthy food but also need convenience ...something that has a long shelf life and doesn't need to be kept in the fridge. I made my own cauliflower rice once; to prepare, cook process and then clean up the total mess I had made took nearly an hour and I vowed from that day on never again. I have a family, a job, I like to keep us all fit and healthy but and have very little time to be faffing about in the kitchen.
ReplyDeleteCauli Rice products are now available in all my local supermarkets and I think they are going to be a great hit in the US, where they have are already available in Heb
and due to launch in Walmart and Kroger, among others.
As for bad reviews, (of which I see over time there are now less of as it is now more readily available) I find the best way to use cauli rice is to be a bit creative, for example, use some extra spices and serve it with a nice curry sauce. Sorted. The bad reviewers are most likely the type who are having take away every other night and wonder why they have a weight problem.
Fullgreen are going to win with their patent on this one, especially since they have brought sweet potato and broccolli into the fold. Yes they have raised a lot but they know their market and I do believe it will pay off.
It took you an hour to make real cauliflower rice -I feel your pain. It takes a normal person 5 mins max. If it smells so bad you have to disguise it with a curry sauce then that is enough evidence for me.
ReplyDeleteI decided not to invest in this after tasting (and smelling) the product. I wonder how much of their sales are people trying the product for the first time. I'd be surprised if they get much repeat business.
ReplyDeleteI had to search the shelves of my local Tesco to find a single unopened box of these on the top shelf of the world foods section. Bought two packs (probably doubling their sales), cooked at home and nearly had to move home the smell was so terrible. Maybe some people love the taste so much that they dont mind their house smelling like a retirement home. Im out of this one
ReplyDelete