Monday, 23 January 2017

Crowdcube's graveyard is filling up


Togethera raised over £200k on Crowdcube in 2015. Just a year later it had spent this and closed.

Togethera was an app - well that might be slightly over egging it. It may have been an app if it had lasted more than a few months.

Backed by some seasoned overseas investors to the tune of £500k, the company's Crowdcube projections showed turnover of almost £3m by now. 
 
According to a rather strange piece in Techcrunch here from July 2016, which says they have closed having failed to raise the Crowdcube round. However Crowdcube and filings show they did.

We find it a little surprising that they have closed, given that the accounts/projections show they were on target and were not due to raise more capital. Something a little odd here - but then this is a Crowdcube story.

The company isn't technically closed yet. First gazette posted.

3 comments:

  1. I've invested in 5 companies through Crowdcube since 2012 and, so far, 5 have survived. That's my success story. I wonder what the statistical chances of that were?

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  2. Well done. Actually the stats on that are good as many co's have not gone bust but have done very little or nothing when compared to their CC projections. As Im sure you know, having illiquid shares in a company going nowhere is as much use as having a condom in the Vatican. Our report on 400+ CC funded co's will be out in couple of months - very (I mean very) few have achieved their sales/profit targets.

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  3. This company has now been dissolved

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