Happy Christmas from Kokoon - the guys who help you sleep tight at night. Now you have paid for your headphones - well you paid £2m+ 3 years ago and we still have only delivered a few, and we have run out of cash, again, we are back on Crowdcube privately selling more equity. We thought that would bring the cash in, in this season of Good Will.
The valuation in this Crowdcube round is up by 50% and it is still ludicrous. We have written about them before - here
Much in the same way as May is blackmailing MPs, her deal or ruin the country, so Tim Antos, the CEO, knows investors will see this as give us more cash or we go under. Which is in fact what he should have said in the last Crowdcube round.
Tim wrote - in all seriousness - 'With so many of you expressing interest in
following your money to maintain or increase your stake we’re delighted to be
making this round available to you privately via the Crowdcube platform.'
That is not the impression we get from talking to investors. But he should know.
We still have no real idea if the product is any good. The first few that have gone out have had a good but mixed reception - certainly not great. People still demanding refunds. And so few have arrived with customers when compared to the 'sales' that you have to wonder about the numbers. It doenst really help that Kokoon has been selling the headphones off their website for delivery nowish when so many people who paid 3 years ago have not seen a thing. That is simply wrong.
The whole pitch is a little odd. Target £600k. 7 invetsors have put in £498k at the opening. Largest investment £478k. Crowdcube funding??
We smell the usual Crowdcube BS. Cash in, followed by fire sale and all investors in this round lose the lot.
Mind you if that keeps you awake, maybe you should invest.
No comments:
Post a Comment