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We are crowdfunding the sustainable future of Singletrack and you can own a share of our business today. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong Back in July we announced our plan to open up ownership of Singletrack to new shareholders via the Crowdcube investment platform. Almost 500 of you signed up to be kept in the loop and yesterday we emailed all of you to let you know that our investment campaign is now live on the Crowdcube…
I was hoping someone else would jump in and ask first - buy hey ho!...
I can't see any mention of possible future returns or being able to sell your stake on that Crowdcube page. If things go well are financial returns part of the deal and can you sell your stake?
Good question.
Crowdcube do have a mechanism for selling shares but as Crowdcube is all about private companies it doesn't work the same way that buying shares in a stock market listed company. The types of share sales within private companies are called 'secondary share sales' or 'secondaries'. That is something we will explore more in the future. As to returns on investments - all the shares on offer in this campaign are ordinary shares with pre-emption and dividend rights attached. In short they are the same types of shares that I have and that Chipps has. So, in the case there are profits that we make available to shareholdersvia dividends then yes, all shareholders will be entitled to dividends.
Pre-emption rights mean that if any shareholder looks to sell their shares these must first be offered to existing shareholders first.
There's more information about Crowdcube shareholders here
Here's my questions, I'm not putting them on the Crowdcube forum, seems daft as there's a perfectly good one here!!
1. What are the plans to 'expand into the growing outdoor adventure market' mentioned on the Crowdcube introduction? This expansion seems critical to the future of the business but I can't see any further detail anywhere.
2. Will the current shareholders, (Mark and Chipps) keep a controlling share of the company, or are their current 105 shares going to be worth the same as any shares I might buy, i.e. £2.62/share
3. What is the current plan to deal with the loan debts when they fall due for repayment in about 6 months time.
Good luck with this, I really hope you can keep this place going, I'd really miss it if it went, (but probably not as much as you would).
The plans have a varying amount of detail and you can understand that some parts are a little too sensitive for a public forum happy to disclose more in private chats on any platform - email, DM etc. The plans also depend on how much we raise with this offering. I have a range of options for a range of final funding totals. The one thing that is common is that the future relies on content and high quality content at that. The content is what will drive subscriptions, which will drive commercial deals. We have limited resources being a small team and there's currently too much for us to do to make that happen quickly. One example is video production is a stalling point for us. It's what the market wants - it's what users engage with and it's what the industry wants including in their packages. We can do it, but not at the scale we need to be able to take advantage of the market.
Travel is a market that is growing. That's another avenue to commercial success. again, it's a lucrative option but it is very resource intensive and has to be done very carefully to ensure the content is good enough.
There are other things on the list for investment but like I say the list will be prioritised depending on the success of the campaign. I've cashflowed the next 9 month sand the next 2 years based on different investment scenarios. Inshort the more we can raise the more on the list we can tackle.
I'm not precious about my shareholding. It's likely that Chipps and I will remain the largest shareholders after this campaign but if there's enough investment then I don't care what my stake ends up being so long as Singletrack has a strong future. All shares are equal in value to those that I and Chipps hold. ordinary shares with full rights, pre-emption and dividends. If Singletrack succeeds then all shareholders will benefit equally.
The current bounceback loan is in it's final 12 months of a 6 year period. Regardless of the campaign they will be paid up on time as scheduled via the monthly repayments. Accounts language makes it sound a bit like the entire amount will need to be paid up in 6 months. That's not really the case. We've been paying it down every month, on time for 6 years. I can't wait for it to be gone. It will significantly boost our cashflow.
Good to see this - I've bookmarked the email to sign up and do all that malarkey on CC when things calm down a little workwise, hopefully next week.
I had a question, don't know if it's answered on Crowdcube. OBviously the future depends on a steady stream of bilge on this forum from workshy clowns like myself quality content and a top notch website*, so arguably the value of one's shares is dependent on the core team remaining part of STW - Chipps, Mark etc. erm... has that been taken into account anywhere/ what's the STW thinking on that?
*insert joke of "well it's managed this far without, so why bother in the future..." 😉 🤣
I'm not going anywhere but the future can't have me driving the bus forever - so yes, it's been considered. My personal goal is to grow the company to point I'm not required - that's important if for nothing else in the event I get run over by that bus. One of the medium term goals/obligations is to appoint a fellow director so I'm not the only clown running the show 🙂
some parts are a little too sensitive for a public forum happy to disclose more in private chats on any platform - email, DM etc.
That detail was plenty for the size of the investment I'm likely to make, (lets just say I won't be in a position to force myself to be that second director!) thanks Mark.
A point of clarification, please. Pre-emption rights are usually taken to mean that existing shareholders get the right of first refusal should there be further rounds of issuing new shares to avoid dilution of their holding rather than if a shareholder wants to sell their shares to someone else.
Hmm. I just went through the sign up process as I was considering this and wanted to see the options, only to be told “sorry, you are not able to invest. Singletrack Magazine is not available for investment in your country”. (Ireland).
Bummer.
We are a bit too old as a company to qualify for Eis tax exemptions and the R&D side is a bit of a reach for us. I did look into it.
Hmm. I just went through the sign up process as I was considering this and wanted to see the options, only to be told “sorry, you are not able to invest. Singletrack Magazine is not available for investment in your country”. (Ireland).
Bummer.
Oooh, interesting. Ireland is fairly backwards when it comes to day-trading, at-home investing etc; but is STW investing only available in the UK?
We are listed on the .com side of CrowdCube. There's the .eu side but I think we aren't listed there for Euopean investers due to reasons. I shall contact our account manager and clarify.
Not sure it will work but try this link if you are inside the EU
https://www.crowdcube.eu/companies/singletrack/pitches/qrpwkZ
Valuation is from two sources that have valued us in the past 3 years. They were considerably higher than this valuation. For the purposes of this valuation we ran the numbers closer to our actual turnover rather than strategic market value. The financials for the year ending Feb 25 are in the process of being prepared for filing by our accountants. Turnover is up on the last filed year slightly. That's what I have currently as they are not finalised.
Not sure it will work but try this link if you are inside the EU
The link works but if you sign up with a non UK address then you get this:
"
Sorry, you're not able to invest
Singletrack Magazine is not available for investment in your country."
How much are you looking to raise?
Presumably the amount will dictate which parts of your strategy you implement?
Having invested with crowdcube before, it strikes me that for the casual investor there is quite a jump between the 150 and 500 award levels so people who might have gone for 250 or 300 ukp are going to invest 150. I know there is no way of altering that now.
Are the investment options limited to those values then? I'd assumed they were just bands for the different rewards, but the actual money you could invest would be variable within the bands.
Edit - think I may have misunderstood your point. You're saying well I'm not going 500 quid, so for the same reward I may as well just do 150 instead of 250.
Have a good weekend everyone.
any questions you can post here (I’ll be monitoring) or message me direct.
I was reminded of this interview I gave around a year ago and how it gives an inside view in how I’ve tried to manage the business side of magazine subscriptions. It’s long and technical and for most I imagine it’s pretty dull. But it’s an insight into how and why we do stuff like we do.
Supposing someone was thinking something like "well, I've had a lot of value from this place over the years, and I would really quite like it to continue, and indeed improve. So I might be willing to give some support in the form of a hundred quid or two. But frankly I don't much care about the investment side of things, or having my name in the magazine etc."
Would it be more helpful for you guys for that guy to invest, or to simply chuck the money at you directly via previous routes for extra support?
(I would assume the latter, but sometimes things aren't as simple as that.)
A donation would always be welcome and the level of support we got in 2024 through donations was incredible but thiso time it’s a bit more than that. I WANT you guys to have a stake in the work we do that goes beyond just a donation. It may sound odd but I find the prospect of sharing ownership quite motivating.
£7.99 and the ads disappear for 2 months.
That said, I've just made some changes to the ads (It's a new ad provider we are using and it takes a some time - weeks - for the ad networks to learn our site and start letting the larger/better advertisers run their ads on our pages - hnace lots of TEMU ads currently)
The change I'm testing is an 8 page limit on ads if you are logged in. So, your 9th page onwards should have no ads. The count resets after 2 hours.
I have read the information and the pitch deck. I have got a lot from Singletrack over the years and am minded to invest a little. But what I don't see anywhere is what's the exit plan, how will I ever get my money back? If I can't then it is not an investment just a way to support you guys. Not a bad thing but not the normal sort of investment opportunity you see on crowdcube.
The plan is to get Singletrack sustainable with a long future ahead of it. There's always the opportunity for some larger investor to want to buy it but that's not the plan here with this investment campaign. There is a mechanism within Crowdcube for private individuals to buy/sell their stake but it's not something I've looked into in depth at the moment. The shares have full dividend rights so future profits can be distributed to shareholders. Crowdcube is a platform for investing in private companies (ones NOT listed on any stock exchange) and the intent is often to keep the companies private rather than public for as long as possible.
I have found this information though which I hope is useful...
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Find a buyer:You are responsible for finding a buyer yourself, as Crowdcube does not help with this process.
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Initiate transfer:Once you have a buyer, contact Crowdcube support to help transfer the shares to the new owner.
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Handle payment:Any payment arrangement between you and the buyer must be handled privately and independently.
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Check Articles of Association:The company's Articles of Association may have restrictions on transfers, such as pre-emption rights, which could impact the timeline. Crowdcube will confirm these with you once your request is submitted.
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Company-led exit:This is a common way for investors to sell, as it often involves the sale of the entire company's shares.
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Voting opportunity:Crowdcube will set up a vote for beneficial owners to decide on the sale opportunity.
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Terms of sale:The terms of the vote will make clear the specifics of the transaction, such as whether it is an "all or nothing" sale and if you can sell all of your shares.
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Company approval:The company can approve or decline the transaction or choose a different buyer.
- No public market: Shares in private companies are not traded on a public stock exchange, so liquidity is limited to these types of exits and secondary sales.
- IPO: An Initial Public Offering is another exit option, but it is less common for private companies that have crowdfunded.
- Fees: Crowdcube charges a transfer fee for secondary sales.
You would have to pay me to buy shares in this website
Isn’t that the idea? You buy shares, STW gives you a dividend?
You would have to pay me to buy shares in this website
Massive rule one failure. If you don't want to, just keep it to yourself instead of being unkind.
One example is video production is a stalling point for us. It's what the market wants - it's what users engage with and it's what the industry wants including in their packages. We can do it, but not at the scale we need to be able to take advantage of the market.
Hmm, it seems the market and me have a difference of opinion. I really don't want video content. That's put me right off TBH.
I really don't want video content. That's put me right off TBH.
I don’t invest in mining companies because I want or like coal. I invest because it makes me money, because, sadly there’s still dozens of countries that still use it. There’s lots of other materials they produce, but to make money for the investors you’ve got to have a product that people want to buy to protect the future of the company whether you like it or not.
I understand your outlook if you were donating like the 502 club, but this is investment. I’d only make an investment if I knew I was to get a return on my original sum. The only thing I’ve heard so far, which would make we want to invest is to up the video content. I’d like to hear more about future plans to increase revenue, even if it means sacking off the mag. Sadly though, there’s not enough info to this regard for me to make an investment.
Edit - think I may have misunderstood your point. You're saying well I'm not going 500 quid, so for the same reward I may as well just do 150 instead of 250.
Exactly. Like others I am not sure of the potential exit strategy / cash profit on the investment here, but I see it as a small financial support for the fun I get from the magazine and the website.
As one of the original life members, and therefore not paying an ongoing subscription, I see the 502 club and this as an alternative to that subscription but that is a very personal view. I don't expect a share in Go Far to help fund my retirement. Also, having been on one of the lifetime subscribers rides in Calderdale and blown up halfway up the second climb, I am not sure the invite to the owners ride is that great of an incentive for me unless they decide to hold them somewhere a bit flatter.
One example is video production is a stalling point for us. It's what the market wants - it's what users engage with and it's what the industry wants including in their packages. We can do it, but not at the scale we need to be able to take advantage of the market.
Hmm, it seems the market and me have a difference of opinion. I really don't want video content. That's put me right off TBH.
I don't mind video content, but on MY terms... My bugbear with Pinkbike is the auto-play videos which i'm sure generates a LOT of clicks, but they're complete and utter bollox clicks as they only last 2s until they're stopped/paused or navigated away from. However i bet it shows the right stats that the video made 4,000,000 clicks... but really.. it never.
It depends on the content though.
Content however is massively lacking these days on here from STW in any form. You used to get decent articles from people like Hannaha, but apart from that little one about DH racing recently i can't think of any STW written articles...
TBH apart from the magazine i never read, i have no idea what STW does all day.
STW gives lots of publicity for the racing exploits of your son?
Which I do enjoy reading!
Well yes, but that's my content, not theirs... My point was that STW don't seem to make the content, not that users don't make it... Users here make lots of superb content.
They give you the platform. Be a shame if they saw your sentiment and thought, you know what, we’ll put a stop to that, no?
You’ve said yourself you had 2 sponsors from here, where would you have got them from if not here? A small motorbike forum?
Hmm, it seems the market and me have a difference of opinion. I really don't want video content.
But STW might be able to create video content that appealed more to you (and their grumpy middle-aged audience generally).
Or they might just do more of the clickbait-y dramatic thumbnail-but-generic content stuff that's already all over YouTube.
It'd be nice to see them have a go, but my opinion is moot as I'm not in a position to put my hand in my pocket for this.
They give you the platform. Be a shame if they saw your sentiment and thought, you know what, we’ll put a stop to that, no?
You’ve said yourself you had 2 sponsors from here, where would you have got them from if not here? A small motorbike forum?
I think you've missed my point... my point was that i don't see content from STW being created as regularly as it used to. We used to have context from Benji all the time, Hannah all the time and others, every day or two you'd have articles coming up with various things, now a lot of them i don't think interested my hugely, but some did. There were kit reviews all the time, new bike reviews, ride reviews, adventures, but they've all gone away.
I don't want to get into the sponsorship debate massively as this thread isn't really the place. But no, even without STW we'd still have both sponsors i believe. They do post/read/view here, but that wasn't how we got them as such. But i've been told off a couple of times for posting even a picture of the boy or his 'stuff' and STW have actively told me off for it. Hence now i don't post any pictures or mention his sponsors at all.