Friday, 2 October 2015

Brewdog PR attempts to hide abject failure

Brewdog's latest PR release states proudly that Equity for Punks IV has broken world records with £10m raised. This is indeed true but its a bit like saying that I broke the world high jump record - the one for jumping over beer glasses holding a python. Its not a record anyone is interested in.

The real story is much sadder. Since coming to Crowdcube to raise the rest of its required funding - a whopping £14m - Brewdog have managed a pathetic £1.75m and its not going to increase by much before their deadline. They may of course resort to the usual Crowdcube game of extensions. The equity offer has already been tampered with by the platform who have suddenly given it a target to raise of £500k - which oddly enough is just above the amount raised to date! The real target was never stated at the outset of the pitch.

Over priced on their equity offer and under generous on their bond offer, it was a nice try boys but no one is going to believe you.

1 comment:

  1. Looks like they ended up on >£19M (presumably including the bond raise). Less than the targeted £25M but still the highest ever crowdfund raise and a decent effort. Whether the valuation is correct at £300M is another question but they have certainly delivered successfully for those who invested in previous crowdfunding rounds. They have delivered on many of their promises, unlike most companies you feature on here!

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