There is a certain poetry to the way Crowdcube deal with bereaved shareholders who have lost £1m.

Crowdcube customer service levels are on the up. Now some investors get an email telling them they have lost the lot. 

From: Crowdcube <support@crowdcube.com>
Date: Wed, 24 Oct 2018,
Subject: Cocoon Sale: outcome of vote announced
To: poorsoul.com

Important information about Cocoon Email not displaying correctly? View it in your browser. Hello Poor Soul, Further to our previous emails requesting your vote regarding the potential sale of Cocoon, we can now confirm that the majority of investors voted in favour of this transaction. What is the effect of this vote now it’s approved by Crowdcube Investors? As the majority (measured by the number of shares owned beneficially) of respondents voted in favour of the transaction, the Nominee has signed the Sale and Purchase Agreement (SPA) and shares have been transferred to the Buyer. As per our previous email, which included an update from Cocoon, as the business is being sold at a price significantly below the valuation at which you invested, you will unfortunately not receive a return on your investment. What about Loss relief? You may be able to claim EIS loss relief on your investment even though the transaction will proceed. We strongly advise you to seek independent tax advice and independent advice on the proposed actions requested. Kind regards, The Crowdcube Team

The issue isnt the return on the investment you idiots, shareholders wont even get back a penny of the principle sum. Why did shareholders vote for this outcome? It makes less sense than Brexit. 

Help offered - None. Apology offered  - None. Service levels - Zero. Reasons people keep on handing over their money - None. Outcomes - None. Sense - None. Keep up the good work.

Cocoon fails and losses Crowdcube investors £1m plus

Cocoon raised £2.3m on Crowdcube, from over 1000 investors. Now the failed company, 'worth' £15m in 2017, is being given away leaving shareholders to rue their own poor judgement. 

Shareholders might exclaim that the management at Cocoon were full of it. And they would be right. They might also question Crowdcube's part in this. But as usual the debacle that is now unfolding will benefit the purchasing company, some of the management, the sales team and no one else. Well apart from Crowdcube who have already made their commission.

In the usual pathetic suicide note, shareholders are told - 

It is clear now, that the business required significantly more time and investment than that available to achieve success in this dynamic and competitive market. 

Who knew that - it was clear back in 1890. 

These guys were seasoned entrepreneurs (according to the glowing pitch on Crowdcube). So how does that make sense with this statement above, which could have been written by a year 4 student. 

Not sure what the next stage is when you leave farce - but Crowdcube are now in it.