Monday, 15 February 2016
Crowdbnk adopt Crowdcube tactics
They do say that one rotten apple will spoil the barrel.
And it does seem that the type of hype and misdirection used so readily by Crowdcube is now being adopted by other more recent platforms. There really is no place for it in serious business investment.
We noted a few posts ago that Investden had been falsely telling punters that their horse investment was in its last 12 hours and then extending it by another week. This pitch now states it's in negotiation (whatever that means) having raised only 36% of its total. Poor bloody horse must be exhausted.
Now Crowdbnk are also at it.
In a recent email they sent to 'members' they shouted out about their pitch The New Craftsmen being over 50% funded in just a few days - just over £512k to be precise. Hey we all thought, better get over there and invest before the mad rush wipes out our chances.
Well guess what.
A whole two weeks later, the same pitch has still got the same solitary 8 investors with the same total of just over £512k.
So you see it is very easy to shoot yourself in both feet and then your knees if you go around blasting off misleading press releases. You can fool some of the people some of the time, but you cant fool all of the people all of the time. Not even Crowdcube will be able to do that.