Tuesday, 6 October 2015
Ongallery is not investible.
The newest pitch to appear on the Crowdcube platform has to be one of the most ridiculous.
OnGallery is an online sales platform for rubbish - sorry 'art'. The major claim in its pitch is that two very important people are investors. When you check out this claim these two individuals appear to have invested tiny amounts. It is hardly a vote of confidence. The art is nearly all limited edition print so would be totally worthless to a purchaser apart from as wall paper.
They hope to take a first year turnover of next to nothing to a year 2 figure exceeding £3m, then £9m and so on up to many many million. Using telepathic sales techniques presumably as they dont seem to have much of a promotional budget.
As an idea this pitch is laughable, has been done to death without any success and will most definitely fail should it be funded. Avoid.