🚀 Crowdfunding graveyard ⚰️

Cornish Lithium raised in less than two months What update are you expecting?

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…and the need for raising at a steep discount had nothing to do with money down the drain from their Non-performing Loans :sweat_smile: I cannot wait for the next iteration of this article:

"- Monzo’s total reported revenues included a sum of £10m in interchange fees that is handed back to third parties

  • Revolut led the pack, making £24 per customer per annum. It was followed by Starling with £21 and Monzo with £20
  • Revolut’s revenues put it confidently in the lead
  • Monzo has now lost one of its key revenue sources, after regulators stepped in to stop them charging a steep 50p daily fee for unplanned overdrafts.
  • Starling and Monzo would “have been better off not lending a penny” in 2019; particularly Monzo, who he shows below has a much riskier loan book than Starling.

I can’t take all the credit but Cornish Lithium sent out a big update email today.

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“Cornish Lithium raised in less than two months What update are you expecting?”

Exactly!!

I think it’s fair to say, the optics aren’t too smart when you suddenly go quiet after taking punters’ money, especially if you’ve taken the time to launch a presence on all the social media channels for the express purpose of pushing a crowd raise. Disingenuosity (sp?) springs to mind.

The lack of shareholder engagement by crowdfunded companies is one of my absolute pet peeves.

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The lack of shareholder engagement by crowdfunded companies is one of my absolute pet peeves.

Same here.

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Some are good (Rejuvention, FullGreen/Cauli Rice, others good when they are seeking more investments and others very poor.
I have been reviewing those (that have not failed yet) and will be contacting any that have not provided updates within the last three months. Especially with the seemingly more relaxed rules on providing updated accounts to Companies House

I’ve invested in about 30 companies in 2 years and I would say only 3 or 4 are hopeless at communicating “Directly” Monzo is probably the worst but they are so high profile you get to know everything. I don’t really mind not being updated regularly. Que Sera Sera what ever will be will be. When I invested I realised most of my investments would take 5-7 years to either make good or not. I have been prepared to lose all my money in every investment,so that makes it easier. I truly believe that one of my investments (Freetrade) will return all my invested money so the other 29 companies are a bonus.

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Hey nice choice on FullGreen. I invested early in the CauliRice days. I met Gem Misa in San Francisco early this year and everything they are doing is so polished and profesh. Making excellent progress and I reckon we could be close to an exit in the next 24 months. 50% growth this year and at least the same again next year. The interesting thing will be how they will be valued as they are not your traditional consumer goods brand, more food tech and absolutely right on trend…

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Yeah I also invested a while back. The investor updates from From FG should be the model.

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Yep absolutely bang on! Their monthly updates are pretty always the best email in my inbox. They haven’t missed one. I know it’s easy to broadcast things when its going relatively well and to stay quiet when it’s not so rosy, but simple high level (minimum) quarterly updates whether it’s good, bad or ugly must be mandated. How many times have you heard “sorry for nothing for 9 months we have been really busy”. What to spend an hour or two preparing an update (on information you already have at hand) informing the people that essentially kept your business alive in the early stages or to engage a group of brand ambassadors that will go above and beyond to help the brand. Madness & Outrageous. I just keep sending requests for the updates until they reply and commit to improving. Never give up :rofl::rofl::rofl:

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One observation about Google. I have also seen their improvement to Google Pay and agree they are moving into Personal Finance. They said all the data collected will sit separate to search and ads within Chinese Walls. The big question: Will anyone trust google with their financial data ? I for one, not keen to use them.

They’re very proactive with their comms and seem to have an open and transparent approach to things.

Not sure it should be in the Graveyard though! :rofl:

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I never thought of that​:crazy_face::crazy_face: I put it in another thread Thanks

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Have you looked at their product reviews…pretty poor I thought?

Yeah I know that historically they had some issues with Amazon reviews and it’s also a product that isn’t everyone’s cup of tea. However I guess the most important thing is their growth is very nicely accelerating (50% yoy this year and even more next year) so clearly the products are being very well received.

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Ye I agree with you here. I am not sure I would trust Google with my financial data either.

I think that there will be many who share this view. I would suggest that there will be a lot of people who are re-assured by the company being Google (as this may give them comfort that they will only be sharing information with Google (rather than another money-management app that may still sell your data)

Also given the sheet magniture of Google (network and balance sheet), they should be able to secure some great deals from retailers which may encourage other to join in, creating a virtuous circle for Google.
They have tried other ventures that haven’t really panned out (Google+) so it not a sure thing. Only time will tell.

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I would be very very careful about investing in this company Fullgreen they have raised 8 or 9 times on Crowdcube and now soon to be back for more on Seedrs. JustSaying. Check this guy out on Twitter ECF Buzz he’s on it??

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Money Dashboard will be crowdfunding again.

Just out of interest have you reviewed Fullgreen in detail, talked to their leadership team or other investors or are you basing your opinion purely based on some comments on Twitter? If you have great if not I’d be careful making such subjective comments.