Less than a week after launching its already successful Crowdcube initiative, British Journal of Photography announced that Crowdratings has awarded the campaign with a gold rating. The publication revealed that it received with Gold (88%) for management, Gold (79%) for product, and Silver (69%) for investment (which it stated that this is considered a scoring Golds for both profitability and cashflow within this section).
The publication, which has been dedicated to photography for over 160 years, has reportedly become one of the most influential photography magazines in the world. Since its management buyout in 2013, the publication has generated over £1 million revenue along with redesigned prints, growing subscriber base and over 650,000 social media followers. It has won various awards, including PPA Publishing Innovator of the Year in 2013, Digital Publisher of the Year in 2013 and 2014, Best Digital Media Company 2015, and App of the Year at the digital publishing industry awards in 2013.
Sharing details about Crowdratings’ announcement, the British Journal of Photography team revealed the rating details.
“Overall, a strong management team and a wonderful brand that intends to survive and evolve the digital era a further 160 years more…The projections are very sensible (cautious?) and the case for the new revenue streams in the plan is plausible e.g. securing strategic partners at a minimal cost. With such a conservative forecast, it should not be surprising if the business beat these figures. If this happens, investors in this round could at least expect a comfortable return either in the form of a dividend or through an acquisition or possibly through a secondary sale of their share to private equity. If Marc and his team start to prove what they hope, this trophy asset, becomes that rare thing – a unique company with an amazing lineage, a long term profitable future – leading to premium multiple as buyers fight to get their hands on it.”
British Journal of Photography debuted the campaign last week and secured its initial goal just hours of its launch. It has raised over £364,000 and it is set to close at the end of June.
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