Sunday, 22 May 2016
Lovespace struggle to fill up second time around
Lovespace raised a shed load of money on Crowdcube and now they have spent it, they are back for more.
We are not going to bother with figures for this post - what is the point?
Lovespace's explanation for their very poor performance and their very large losses is that they are evolving. Funny that, for the first raise they were very positive that their projections were conservative and more than doable. Nothing wrong with evolving but you cant have it both ways.
If you want to have a laugh just read the responses to the questions in their current forum - they are certainly not short of strategy, business school BS.
This time around the investors are being far more cautious with only a few days to go the total raised is well short of the target. But our money is on a this one completing - it's too large a punt for Crowdcube to let fail. Either extensions, increased equity or a large sum will suddenly materialise and the hey presto the box will be full.
We have seen it all before.