Friday, 18 March 2016
All packed and gone away. Oh Latte.
The company due to take over the world of coffee has closed its Crowdcube pitch; early and well short of its target..
We wrote about them before - http://fantasyequitycrowdfunding.blogspot.co.uk/2016/03/what-can-you-make-of-pact.html
Pact claimed it was on course to raise £30m in the next 3 years only to spend it all plus some on customer acquisition.
We dont get any explanation from the guys at Crowdcube as to why just a few days before this campaign was due to run out of time, they just disappear. A good guess would be that the plans are pretty good nonsense as is the Crowdcube pitch - no one was really very keen to invest. Of their £1m target they had received around £200k.
Maybe investors are eventually waking up to the facts that we keep posting here?
It is good to see that the Crowdcube OTL department were out to coffee with Pact recently - http://blog.crowdcube.com/2016/03/08/pactcoffee/
We'd love to hear from anyone who has the inside story.
Thanks to our skinny friend for the tip off.
Again thanks for this tip off - https://vimeo.com/159219013 - this is an explanation (of sorts) as to why they have pulled the campaign. Its a little sad to watch and in the end just emphasises that The Plan was total caque.
Looking forward to seeing him in six months time.