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I think the valuation is very high for what is essentially 11 bikes and an app(they had 12 but 1 got stolen), 75k worth of bikes tops and then £1.4mil of idea.
I'd have invested if they would just break even.
I can see why you say that but the valuation is not based on what they have done so far but on the potential, and they are growing very fast. It's not a crazy valuation for something growing so fast.
They are bound to make a loss for a while as they have too few bikes to cover their overheads. If they were profitable already they wouldn't need to raise money so there wouldn't be an opportunity to invest!
frank9755
I think the valuation is very high for what is essentially 11 bikes and an app(they had 12 but 1 got stolen), 75k worth of bikes tops and then £1.4mil of idea.
I think crowdfunding from what will essentially be the customer base to then show a loss or no return is a bad move, you get a bunch of £50-100 punt investments from people who then get a bad taste and stop using the service.
I'd have invested if they would just break even but running at a loss end of summer and going into winter where it will only get worse.