Wednesday, 29 July 2015
E Sign UK Ltd return to Crowdcube for more cash at a simply crazy valuation
Yet another Crowdcube ''success'' is back for more money. This one is a cracker.
Only a few months ago at the end of 2014 E-Sign UK Ltd raised £50k to get going. At a valuation of around £500k it was probably a punt. Now the company is back asking for £200k for 4.88%. So since the end of last year they must have made some great progress.
No. They appear to have made little real progress, lots pf talk but little action. Sales of next to zero. A major competitor is out there so how on earth can they now value themselves at over £4m - or 8 times the value of a few months ago.
So according to comments from Darren Westlake, CEO of Crowdcube, first round investors have done incredibly well and have seen a ROI of 8X.
Come on guys. Please.