Emoov is to close its current crowdfunding campaign early – on Monday, at one minute to midnight.
It is doing so after raising over £1.5m from more than 770 investors on Crowdcube.
CEO Russell Quirk said he expects to see a “significant uplift in interest and investment” over the final few days.
Yesterday afternoon the total raised was £1,583,870 from 772 investors. The original target was £1m.
Emoov, which says it will float on the stock market in the first quarter of next year, puts its current value at £104m.
Comments (10)
Hi guys.
Don’t mind me, just doing the rounds collecting the latest harvest of sour grapes…
It’s hardly sour grapes, there is quite literally nothing to be envious of. Based on listing volume Emoov are 8% of Purplebricks, 47% of Yopa and 61% of Express Agency. Emoov have 6.2% of the total of those 4 firms.
The amount of money and now TV advertising that has been poured into Emoov is vast but that is not an achievement any normal person would be proud of. Investment should kick start and accelerate a project it should not be the thing that keeps it going.
Burning cash like it’s going out of fashion. They raised a huge amount in December and it looks like they are running out of money already with very little to show for it.The relaunch of the brand brought very little growth in the first 2 quarters.That’s why the merger happened.
Tepilo new instructions are a good 30-50% down since the merger. Tepilo will be gone by the end of the year with Beeny getting her P45.
I have said it before and I still expect to be proven correct that it is some rogue AI algorithms that are signing up to these hari kari investments.
Please sir, may I have some more ….
Headline:
Angry Crowdfunders Close Emoov .
Would be a more welcome headline.
Since their huge ad spend over the last 6 months or so, I’ve not seen them get a single instruction in my area.
They must be worried.
My concern here is the average investment from these people is £2,051, so it is proper small time investors putting their money where Russells mouth is. I wonder what these people have been told, i wonder how much if any facts have been put to them, i wonder if they have been told how much money there biggest competitor spends on advertising alone every year and £1.6million doesnt even cover one month of this.
£104m valuation. How can they be allowed to collect money from ignorant investors by telling them they have a busimess that will be worth some fancy number plucked from thin air? It really is outrageous, I cannot put 2 minutes walk from the station on my sales details in case some buyer with a slight disability might take 3mins 30 seconds to cover the distance. The world is a crazy place.
Emoov is bleeding money and will try and get all they can.
They said they were to close funding early a few weeks ago and didn’t.
But impressive cash raise, just proves how much the public do not understand the industry.