After the first week of being live Crowdcube closed our pitch!
We have been in a private mode for a week and attracted almost £30,000 Investment!
The first day, once we've moved to 'public' mode after being life for a week in a 'private' mode - Crowdcube removed us back to private, as our video and rewards were similar to another project on the platform. We've apologized immediately, re-made the video and showed an email from a member of the team saying, that we can copy rewards and make a similar video.
We've been moved back to 'public' mode (for only 23 minutes) after what we've been moved back to 'private' mode once again. This time we've been talking with Sara and that's when all the problems started.
They now had an issue with the fact, that we have a profile live at Crowdfunder and SEIS.co.uk. However, we tried to explain that we are not fundraising with Crowdfunder and it is only a part of Virgin #Voom contest. SEIS is a requirement and we still don't understand what is an issue with that.
After they found an issue with that we have placed an investment twice instead of one time and said that there are manipulations with the pitch... Our founder tried to explain, that first investment was only £10 check-up and next one was the real pledge.
The last bit was when they started finding issues with our social media channels and blogs. We want to be honest with you and can say, that most of the pictures in our blogs we take from stock websites like #Shutterstock #Pixabay or #Depositphotos, but the issue has risen here as well.
Result: Our pitch was canceled. All investors got turned down. And it was a first time in the history, that startup had more costs by simply joining the crowdfunding platform and a serious damage to reputation.
Opinion: Crowdcube is not for startups.