Crowdfunder is back on Crowdcube - seeking £750k for 4.27%. Reading the pitch you would be forgiven for thinking that it is on track for their 2015 projections.
Back in 2015/16, when they took over £1.3m off Crowdcube punters, they showed £3.99m revenues.
Now the new Crowdcube pitch states that the company are on track for a turnover of £2.2m for 2017 - so well off the £3.99m. This new raise was not part of the 15/16 plans.
This doesnt mean they wont go on to succeed - just that some of the figures being banded about are misleading. The 2015 (historic) revenues were given by CC as £909k. It now turns out this figure was in fact only £800k. These anomalies are hardly surprising seeing that Crowdcube's Darren Westlake is on their board.
All of this could so easily be avoided if CC would just do a direct comparison. But then that would lead to people asking - so if they missed these targets by that much why has the valuation gone up by so much. To which they would answer - well look at our future figures. To which any sensible investor would come back with - well the last time you told us this, your figures were out by a rather a long way.