Another flip-flop from Seedrs to CrowdCube, this time it’s Charbrew, recent holders of the ‘No News is Good News?’ title. Reading the post-investment discussion board I got the feeling the crowd were losing their patience with them after their recent pivot from teabags to ice tea and surprising move into the Australian market.
I briefly read the CrowdCube pitch on the train earlier (no up-front mention of the previous Seedrs raise, obviously, although it has been mentioned in the discussion board) – I’ll admit, I found myself thinking I might invest in this if I had been finding them for the first time. Perhaps this is their angle, however I feel the investor base on CrowdCube has plenty of overlap with that of Seedrs so if targeting new investors was the reason for the switch, I’m not sure it’s a good one.
I’m still waiting for a good reason (from the view of the investor) for switching platforms to emerge from one of these flip-floppers, I’ve been trying to think of a theoretical one for months and I’m stumped.
Us Seedrs investors haven’t been given our pre-emption notice yet, I’m 95% certain I’m going to let it slide when it does arrive.
A success story, of sorts. After pointing out their silence last week, Charbrew have posted an investor update last night! I don’t have the projections from their raise in Sep 14 but I do have some revenue figures. In short, they’re pretty flat on the previous year, sales are slightly down but they lost slightly less. What we can glean from the numbers is that they must be out of money, their losses for the last two years add up to just over the £168k they raised… So it’s no surprise that their update also mentions a plan for another raise in the not too distant future.
I’ve decided I’m going to make this a regular article… Find and publish details of the company who hasn’t posted an update on one of my Seedrs investments for the longest.
Today that honour goes to Charbrew who haven’t said a word on Seedrs since 6th September 2016. Their website fairs even worse, the last blog update was in January 2016 and if they’re registered as ‘Charbrew Limited’ the company is registered dormant. But, it does look like they’re still doing something, their Twitter has recent posts so that is good news.
I’ve dropped them an email, let’s see if they’re still in the same place next week. If you know of an even laxer company do let me know.
The Crowd Punter.
P.S. I’d do the same with Crowdcube, but the mechanism for keeping investors updated is more company-centric… i.e. there isn’t one, just a poorly thought-out forum. I will trawl through my investments/emails though, there’re some on there I’m sure have never actively proferred an update.