I have some recollection that the same guy who ran Sugru into the ground then took over at GripIt to do the same. That was years ago.
Sugru - Another of my failed CC investments; returned 9p in the pound. Sugru Action Group on Twitter continues to post regularly about the ‘alleged’ irregeularities involved in the takeover
Also:
Accounts published for 2020 today on Companies House if anyone with expertise in balance sheets is interested - they have elected not to publish the P&L.
Still outstanding loans of £477,000 - presumably from Deborah Meaden (Dragons Den who had >42 million shares) and Marketinvoice who both have charges over the company.
Confirmation Statement was due 13 Jan 22 and is overdue.
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Was anyone else here unlucky enough to have invested in My Showcase on Crowdcube?
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Nope, have they got a unfortunate plot in our digital graveyard?
That is what I am trying to understand Neil. The effectively were taken over in March 2018 by Miroma Msc Holdings (as a ‘person’ with significant contro)l which is when the original directors resigned.
Name was changed in April 2020.
Investor update via Crowdcube in Feb 2020 stating company was dormant (nothing on Companies House to state this I believe) Advised that EIS loss relief could have been claimed in 2018 which does not make sense as the shares have to be held for three years to qualify for this as I understand it.
It then went on to state that investors had been issued B shares which were of nor tangible value.
Just trying to work out if EIS loss relief is available - still shows as ‘Trading’ on Crowdcube. Have asked CC about it.
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This was one of my early mistakes to invest in this company. Investors got a real shafting. A 100% washout.
So how many companies have gone under when funds raised via Crowdcube? How much lost?
Zobi (Seedrs) looks like an interesting failure. I’ve invested a small amount in them.
A good case study once the company is dissolved and other findings that come out of it.
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JUST come across this important bit of inf. So how much have investoprs lost through businesses recommended via Crowdcube?
Not a good idea to blame Crowdcube for these IMO. It’s a good way to get US-style accredited investor laws introduced and you won’t be able to invest in any private ventures anymore.
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8 out of 19 investments failed - losses around £3k but have some loss relief to claim back.
Only one positive return but they sold out before the three year EIS period so return was reduced.
Well that post from 2019 of 22 has swelled by a good few. Most of my investments were £10 and £20. I knew what I was doing and could afford to lose the lot.
With EIS losses tend to come in early with wins later on there are few that looks to be doing very well, though some that have looked at that way before have since gone, some due to COVID.
To your point about recommended by Crowdcube, none of that are recommended in the FCA sense they are all execution only, like Freetrade is.
If business finance is raised using Crowdcube-does that mean that Crowdcube support or recommends them?
Just had email from my electricity/gas provider-my dd doubles from May!!!
Am in receipt of a state pension.
I bought thru Crowdcube when I had a decent income-not so much income now and add that to the losses I am regularly incurring then may follow many friends who now live in Asia/South America where their state pension goes much further and life sweet is gentle
Just asking-would you hazerd a guess and say that investors have lost hundreds of thousands or perhaps MILLIONS in investments taken thru CROWDCUBE-come on guys, if it is in the million+ mark just think what cancer research could have done with that.
I WOULD SUGGEST THAT EVERY SINGLE NEW INVESTOR SHOULD KNOW THERE IS PROBABLY A 90-% CHANCE OF A COMPLETE LOSS OF THEIR MONEY
So far I haven’t made a single penny through crowdcube, even my Monzo and Freetrade shares haven’t actually paid out - they look good on paper but would look even better in my bank account (eventually - some more growth would be appreciated).
There are some diamonds in that rough but I must admit I am skeptical about most crowdcube raises because most of the stuff on there seems dubious to me at best (I get the mission and I respect the platform for providing genuine entrepreneurs with an opportunity but there are plenty of vultures on there too, e.g. Sugru, Wild and Gorgeous to name two).
But as Warren Buffet once said, “you won’t get 500 chances to make it big, you’ll get maybe 20 at most in your lifetime and so when you see them you have to go in big, no point going small”. And crowdcube is one such place where hopefully I found two of those big chances.
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No. They facilitate but make absolutely no recommendation.
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Yes, investing in private equity means that you need to accept that most of your investments will fail and the hope/personal due diligence is there to hopefully pick enough winners to balance the books. But don’t invest in private equity (or crypto) unless you are willing to lose it all.
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What multiplier have you made on Monzo and Revolut? Congrats on getting in!
I was going to put £1k into Revolut when they raised on Crowdcube at a ~£42m valuation, but I probably had £15k to my name at that point and decided not to as it’d be irresponsible. Huge regret.
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