Very recently a coffee company called Pact removed its failing ECF campaign from the Crowdcube website. It was from the word go a misconceived attempt and we had predicted it would be on our blogsite http://fantasyequitycrowdfunding.blogspot.co.uk/2016/03/what-can-you-make-of-pact.html
Had they consulted with us beforehand, we could have steered them down a different and successful path. This is very clear evidence that the platform itself, in this case the largest UK platform Crowdcube, cannot give independent advice when it sees the temptation of a £1m campaign flashing before its eyes.
There were so many obvious mistakes in their approach – all avoidable.
Now they say they return with a new campaign in six months here but what they dont realise is that this failed attempt will remain on the internet for years to come. Crowdcube may try to rub it out on their own site, but all of the other media outlets have covered it. There is no doubt that it will make the next attempt 100 times more difficult.
This is exactly why we advise people to use our free initial service – its free so what have you to lose?