Crowdcube are rapidly overtaking KellyAnne when it comes to BS
Lets start by stating that Brewdog is a massive success and that all the first three EFP round investors will see great returns - even if they cant realise them all now. Worth noting the company was a massive success before they went to Crowdcube.
Then lets read the PRing put about by Luke Lang's machine - here
Firstly the whole tone is very misleading, as Crowdcube investors came to the party very late, in 2016 and will only see returns of 1.7X. Not that great unless you look at the other returns CC have offered.
Secondly this PR is clever in that it glosses over the facts - that Crowdcube investors who are affected by this £1bn valuation are a very small number in terms of the figures CC quote here. Only £800k of the total came via equity - the rest, £12.3m of the quoted £13.13m, came via bonds which have a fixed rate of return no matter what the valuation. These, representing the vast majority of CC investors, are totally unaffected by this £1bn story.
Finally, as someone very kindly pointed out in the sick as a dog post, TSG are getting Pref C shares which gives them a guaranteed 18% return and all the other share classes will pay for this. The comment is worth a read if you want to see how clever Brewdog have been and how minimal the upside really is for CC investors.
So rather than blowing their own massive trumpet, isnt it time Crowdcube ate a good helping of humble pie and agreed that yet again CC investors have been ridden over with no regard to their rights whatsoever.