We would like to extend our sincere congratulations to founder Duncan Glendinning and his team for successfully reaching their goal! They raised £55,000.00 (a bit over $72,000 US) in selling 20% of the ownership in their company. This crowdfunded equity offering was subscribed by 34 individuals.
Now if you recall our previous article the reason we focused on this specific deal was not just because they looked like a very cool company striving to create great products – which they clearly do. We focused on this offering because we believe this may be indicative of the similar potential success which could occur in the United States once Crowdfunding becomes “legal”. We realize there is much domestic crowdfunding occurring now but the US has yet to launch equity based funding which is scheduled to fire up next year. More on that later.
So think of the Thoughtful Bread company as an example of a small, regional company that is thinking big. They need the funding and the crowd provided it. No banks. No VCs. People that believe in their message, management and potential.
Again – Best of luck to Thoughtful Bread. We will be looking for your first retail location in the States in 2013.
We read recently the Thoughtful Bread Company expects to hit £1m in revenue over the next three years. They will continue to focus on quality over volume.
Only one of the investors was someone they recognized. They even had an investor from New York City.
It appears the CrowdCube offering not only raised revenue but also dramatically raised their profile – as witnessed in this publication. Thoughtful Bread has now started receiving inquiries regarding the possibility of franchising.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!