Wednesday, 30 December 2015
Some of 2015's lowest Highlights
2015 was the year Crowdcube broke through the £100m invested barrier and the year they finally saw a funded company sold. Two in fact. Despite the returns being small, they are at least returns.
We said goodbye to quite a few Crowdcube funded businesses also in 2015. Most of the ones liquidated over the previous 3 years are also still in the process of closing. Losses for ECf have mounted and are now heading for the £20m mark.
The FCA continues to be AWoL and there seems little hope of them coming to the party in 2016. What exactly is it they are supposed to do? Answers on a postage stamp please.
Many companies labelled successes when they raised ECf continued to show spectacular form when it comes to missing projections.
Our award for the worst performing success story for 2015 has to go to Pizza Rossa - the self styled square pizza mafia. Two raises on Crowdcube and voted best business idea by the LBS and Crowdcube, this succail has broken all records when it comes to missing targets. We expect more of the same in 2016.
Worst performance by a ECf funded company is shared between Flavourly, whose reviews on Trust Pilot are a very amusing read, JustPark for likewise and Soshi Games who recently liquidated and seem to have lost their lead investor along the way. Some error with the AR apparently.
Quote of year as usual goes to Luke Lang, PRing director for Crowdcube, who told Altfi that of course Easyproperty investors would enjoy a considerable uplift in value despite dilution, after Stelio's namesake company raised a further £25m without entertaining Crowdcube investors. No figures then Luke - as usual!
Biggest fudge of the year - Camden Brewery sale with reported returns for ECf shareholders of 70%. Now looking a little dodgy that percentage.
Most resilient performance goes to Red Advertising, who having failed to raise yet more money on Crowdcube, have been successful in raising over £200k as a loan on Thincats. Of course the Thincats pitch didnt give details of the Crowdcube dealings.
Our quotes of the year - take your pick -
'Your blog should be essential reading for anyone interested in ECf' - an investor
'I wish the FCA would pay more attention to your writings' - an ECf platform - not Crowdcube!
'I love your blog. I discovered it today and couldn't stop until I had read every post. Truly insightful.' - a possible stalker.
Tip - keep your eyes open for a broadsheet article coming out shortly on a truly unbelievable phoenix event.
All the best for the NY & may at least some of your investments deliver a return in 2016!