Crowdcube #FundedClub Cornerstone Shares Details About Company Growth & Progress

Oliver Bridge

This week, UK-based equity crowdfunding platform Crowdcube caught up with its #FundedClub member, Cornerstore to discuss the company’s and progress since launching its initial campaign last July.

Cornerstone  1The Crowdcube team noted:

“Having launched their shaving products and online subscription service in June 2014, Cornerstone raised over £876,000 from 229 investors in July last year to ramp up their marketing activities and fund their ongoing growth. We asked founder Oliver Bridge to tell us a bit about their journey so far and their future plans.”

Sharing some details about the startup, Bridges stated:

Oliver Bridge“Cornerstone is shaking up the men’s shaving industry – offering quality razors and skincare products on a flexible subscription model over the internet, meaning our members always have everything they need for a smooth, comfortable shave. You simply tell us how often you shave and the kind of products you use, and we then make sure you never run out of shaving supplies ever again. We’re all about making shaving simple again.”

Noting the company’s growth and progress since closing its Crowdcube campaign six months ago, Oliver explained:

Cornerstone  2Well we have had a great few months! The team has grown from 2 to 9 of us full-time, we’ve quadrupled the size of our membership base to 20,000 and we won People’s Champion at the Startups Awards! We’ve done pretty well against our plan – we forecast that we’d have 20,000 members by the end of the year, and we hit that 3 days after the year end – on the 3rd January! We have now upped our projections for 2016 over and above what we originally forecast.”

Bridges commented that despite the company’s success, there has also been some challenges:

“One thing that has been a real struggle is running the business whilst building the team – hiring is very time consuming if you want to do it right, so doing that whilst maintaining a close eye on the day-to-day detail is hard.”

In regards to the benefits of being backed by a crowd of investors, Oliver added:

Cornerstone 4“The great thing about crowdfunding is you end up with a shareholder base of several hundred people who not only have a financial incentive to see you do well, but they also really care about seeing you succeed. You simply wouldn’t get the same sheer volume of ideas, introductions and constructive criticism from a VC or private investor as you do with several hundred shareholders through crowdfunding. I send out a regular email update to all of our shareholders and I always have to brace myself for the dozens of replies that come back – it always adds quite a few ideas to my to-do list!”

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