Directors of Escape the City take their advice and jump off the loss making Crowdcube funded platform

Following yet more disappointing results for what used to be a Crowdcube gold plated success story, 3 out of the 4 board directors of Escape the City have left this month. 

Escape has never made any money  - just losses. Now much of the cash is gone. Whats next? Well from the recent departures one might guess either closure or rebirth. 

Escape the City gives Crowdcube some much needed GOOD NEWS!

Escape the City raised money on Crowdcube in 2012 and has been very well featured on the platform as one of its stars.

4 years on, the company predicted an exit in 2016 or 2017. Oddly the amount raised as promoted by Crowdcube was £600k but there is only around £450k in the accounts. Still for Crowdcube that is accurate.

For the first time in its existence, Escape the City has reported a profit. £9,400, which if you split it between the 400 CC investors will give them a return on a par with the other 3 CC exits.

Oh come off it - we said we would look for good news and this is the best we could find!

More losses for Escape the City.

Escape the City raised £600k on Crowdcube in 2012, valuing themselves at £2.4m. Since then they have reported accumulated losses of £216k over the two years trading to Dec 2014. At this rate they will be refunding early in 2016.

We thought these guys had an ok business so here's hoping they can turn the corner and make a return for the 400 crowd investors who backed them. It doesnt look likely that it will follow the Crowdcube version of events with an exit predicted 2016/17. We'd love to be wrong.