Monday, 25 April 2016
Red Advertising threaten us.
In case anyone is wondering, we have removed a post on Red Advertising. The company founder threatened us and as we are not interested in a legal fight right now (too busy with real clients trying to launch ECF campaigns before Brexit), it was taken down.
Just for the record though. Facts only.
Red Advertising have raised 4 times on Crowdcube according to the platform - the last time in April 2014. They tried to raise funding on Syndicate Room but the pitch was removed according to SR. We thought they tried to raise on Crowdcube in 2015 but cant now find any records.
They have raised money on the P2P site Thincats - the last recorded time at CH being 2011. The CEO of Red states that the last time they tried to raise on TC (which was in 2015 according to the documents we have from TC) they succeeded but this raise doesnt appear at CH.
This company is apparently backed by a VC but we cannot find evidence for this. We asked the CEO for the name of the VC but he declined to give it. They are backed by a FA company but that is not the same as a VC. They have yet to get close to the projections used to sell their equity but then that puts them in the same company as 99% of Crowdcube's pitches.
We would like to hear from anyone involved in any way with Red. We do not want to publish information if its not true and equally we are not liking the threats if they are based on untruths.
Wait and see time.