Yes there will be overfunding.
Thanks for claryfying the situation for R8, but I think @CashCow and othersā gripe (including mine) is that we never received clarity on whether this success tax applied to R7.
During R7, @adam posted saying it wouldnāt apply for R7 and that the situation would be checked with Crowdcube, but I canāt see any definitive answer posted.
Iām also not investing in this round the 5% is an annoyance. I invested in round 7 and I am also a subscriber so I wish freetrade every success but I feel there hasnāt been enough progress this year to warrant me investing more.
If the stock market is in decline for the next 12 to 18 months thatās going to hinder progress too.
I deleted the Crowdcube app (iOS) a couple of days ago, because as you say doesnāt work anymore and just re-directs to the webpage. Unless you really want to keep the Crowdcube app you could just delete it and I presume the link will work fine.
I did delete it
There was one, though some push back on the wording. R7 investments are subject to a carry fee. But in order for Crowdcube to be able to take this, they would have to be brokering the transaction in some way to have visibility. As you hold R7 shares directly, they would have no visibility if, for example, you sell shares after a flotation on the open market.
Are you using iOS? The link in my email takes me straight to the crowdcube webpage on their safari browser. Is it redirecting you to the app store then to the webpage?
Oh well, I have begrudging bought in as it seems mad to not buy at a 1/3 of what I paid a year ago but think this round may cover my R7 losses.
At least there is no swag etc this round to be chased after edit - I obviously didnt read the whole pitch deck
And before anyone says you shouldnt average down etc, I know, but I do believe FT will do well but was overhyped last round that is all and more realistic price this round. Besides all the swag had to be paid for last round
There is swag, it is at the bottom of the pitch page.
T-shirt, crocs, investor evening & dinnerā¦
EDIT: I still think ceramic and or thermal mugs would be perfect to raise awarenessā¦
Haha, I didnt read that bit. Oh dear, I wish they never did that as that will be another year of comments for missing swag. Agree on the mugs etc if they would do it though but I reckon that would be a much better thing to give new customers than a free share to widen the advertising.
5% is pretty ridiculous to be fair. Did freetrade try to reduce these fees?
Cloud cube provide minimal value for the fee they charge, take zero risk, put all the risks on investors using their platform, but take a cut of any gains anyway. And a huge cut at that, I get freetrade isnāt crowedcube. Itās pretty negative for investors though
Maybe freetrade can move away from this platform in the future
Not to sound to negative, just hoping this setup changes to a better company than crowedcube in the future
Filling up the Ā£1M nicelyā¦ actually freaking quickly!
And all this in the early access.
Mugs for new accounts is a great idea
Given the large amount of crowd funded companies that fail it isnāt as though Crowdcube are going to make a killing out of this.
The fees are quite reasonable to access a company that isnāt listed on the stock market imo.
Similar to Freetrade, Crowdcube needs to be financially viable or it just wouldnāt be operating.
Correct.
Thatās hardly our problem.
With EIS relief (not applicable this round) I suppose you can cover some of that fee if itās successful. But the point is from crowedcubes perspective itās win win.
If the company fails you lose all your money, crowedcube doesnt. If the company is a success, you do well, but crowedcube takes a huge cut even though they never had any stake or risk
Keep in mind crowedcube already take a fee for the initial investment as well
Others have commented that Crowdcube Investor Molten Ventures is also a Freetrade investor.
Exactly Molten will want to carry on making money both ends
I do like that whenever the note converts into shares, the shares will have voting and pre-emption rights (assuming Freetrade donāt waive this) - unlike shares I hold from previous rounds.