Viewing 39 posts - 1 through 39 (of 39 total)
  • Alpkit fund raising round #2
  • footflaps
    Full Member

    Just got an email from them:

    Two and a half years ago we invited our customers to be shareholders in Alpkit. What a day. We reached our target in eight minutes and closed the round 44 minutes later having raised £1.5m from 1350 customers.

    Sharing the ownership of Alpkit with our customers comes from deep within us – it’s in our DNA. It keeps us fiercely independent and having customers as shareholders holds us accountable. It keeps us true to our ethos.

    We have so much skill and experience amongst our existing shareholders. Experts in sustainability, finance, project management, marketing, e-commerce. Swimmers, ultra runners, weekend campers. Many have informed our decision-making far more than they realise. We appreciate their input, guidance and their counsel.

    Looking ahead we’re considering the right time to have a second fund raise and give you the opportunity to buy. And also give our existing shareholders the chance to sell their shares if they want to realise a financial return.

    Creating regular opportunities for our customers to buy a part of Alpkit is an ongoing commitment of ours.

    Right now – please let me know if you are interested in buying or selling. Give us feedback and we will listen to your view.

    No details on what they have achieved etc with the money from round 1 and no actual business plan to consider though…

    montylikesbeer
    Full Member

    I was a very early up taker of Alpkit and a heavy purchaser of Sonder kit.

    I have been messed around, had bit fall off my Camino and am now somewhat Meh with the whole nonsense of it.

    They have grown too fast and forgotten those who stepped up to start their journey.

    gobuchul
    Free Member

    Their kit used to be OK quality at a cheap price.

    Now it’s poor quality at a moderate price.

    Don’t bother with them anymore.

    monkeysfeet
    Free Member

    I bought a Ti Camino from them last year, and the help and advice I received was first class. Since bought a Vir Fortis Fat Bike and again, lots of good help and advice. They do sell some good kit, and their staff are just lovely to deal with. So as a happy customer I would maybe look at investing a small amount.

    eddiebaby
    Full Member

    Maybe the way forward for Singletrack.
    Imagine the shareholder meetings… 🙂

    finbar
    Free Member

    What was the return from the first round seems to be the critical question… I wonder if anyone on here invested?

    lamp
    Free Member

    @eddiebaby – that would be an immense amount of hot air! 😀 😀 😀

    footflaps
    Full Member

    I wonder if anyone on here invested?

    I was going to, but it sold out almost instantly….

    Straightliner
    Full Member

    There was no direct return on the initial shares they sold. They weren’t really set up as shares to provide dividends to supporters. However people who invested did get certain amounts of extra discount on kit for the first 18months or so.

    This round is offering people the opportunity to cash in on them, but the value hasn’t been provided yet so no idea of they’ve changed in value in any way.

    eddiebaby
    Full Member

    This round is offering people the opportunity to cash in on them, but the value hasn’t been provided yet so no idea of they’ve changed in value in any way.

    So how can you decide whether to cash in or not?
    Has this been planned for a while or is it a sudden panic with changing outlook for leisure sports?

    footflaps
    Full Member

    but the value hasn’t been provided yet so no idea of they’ve changed in value in any way.

    As they don’t float on any form of market – their value is fairly arbitrary! I guess they might offer the chance for existing share holders to sell out to new shareholders at a pre-arranged price, decided by Alpkit mgmt.

    the-muffin-man
    Full Member

    Extra discount – whoopy do!!! 😀

    They’re a big (ish) company now. If they can’t give details of possible returns why should you invest?

    Poopscoop
    Full Member

    eddiebaby
    Full Member
    Maybe the way forward for Singletrack.
    Imagine the shareholder meetings… 🙂

    That did make me chuckle, it would be bloody epic wouldn’t it?😁

    midlifecrashes
    Full Member

    Are these real shares or more Brewdogsbollox cheerleader type “shares”?

    john_l
    Full Member

    All the email is doing is asking if you’re interested. They’re not actually inviting you to invest yet.

    But yeah, a few more details would probably have been a good idea.

    Straightliner
    Full Member

    I think if you respond and say you’re interested, they will then provide more details in time.

    They’re not traded, hence there is no up and down value like publicly traded shares. It’s a different way for the company to generate some investment. For those who did invest the first time round there is still an intrinsic value to the investment and people were able to make savings on purchases.

    I don’t believe it’s a fabulous way to make money, but it will appeal to some people who believe in supporting a British company who might not get it right all the time with their products, but do try and stick to their values with things such as B-corp, Alpkit foundation etc.

    thepodge
    Free Member

    Did anyone get a million emails this morning announcing round 2 was 50% funded?

    chowsh
    Free Member

    No but it is currently showing as 224% of target on Crowdcube.

    Ewan
    Free Member

    Well i bought some…. i watched the video presentation the other day, didn’t seem entirely nuts. Didn’t invest much mind so don’t mind if i lose it.

    footflaps
    Full Member

    Looking at their first round, it’s mainly people putting in around £1000 each on average.

    thepodge
    Free Member

    I think last time if you put in a grand or more you got x% off in the shop so some people eyeing up bikes got a nice discount. I think mine said I got something like a 25% return on top.

    footflaps
    Full Member

    Seems to have gone well….

    What an incredible day. Thank you so, so much for your support. This morning we raised £1m in 15 minutes and as I write this we’ve got £1.9m from 1,528 shareholders. We’re overwhelmed by your response.

    Tomorrow we’ll open the share offer to the public. This gives you the chance to reflect overnight so in case you haven’t managed to invest, you still have time. We’d originally set a cap on funding at £2m and we’re looking to increase this to £3m to make sure as many people as possible who want to manage to invest. We’ll keep the investment open for another seven days.

    TheGingerOne
    Full Member

    I doubt they will use that money to re-employ the people they’ve made redundant recently.

    footflaps
    Full Member

    I doubt they will use that money to re-employ the people they’ve made redundant recently.

    Assuming they were made redundant because their roles were no longer needed, it’s unlikely anything had changed in such a short period. So, you’d expect them not to need to re-employ them.

    Sometimes companies lay people off. It’s never nice, but often necessary.

    the-muffin-man
    Full Member

    Still don’t get it – seems they get given a shitload of money with no financial return plan, no ability to sell shares or liability on their part.

    🤔

    footflaps
    Full Member

    Still don’t get it

    If you look at the numbers, most people are putting in modest sums ie around £1000, which is hardly life changing. So it’s many people making small investments in something they like. It’s not serious business case led investment.

    no ability to sell shares

    My understanding was you could sell shares during this funding round – to new or existing investors.

    dyna-ti
    Full Member

    Thats the way of things. Increase the company’s worth, then a little bit down the line flog off their controlling share as a going concern to some market capital investment group.

    Couple of years from now, Alpkit will not be owned by the founders, who’ll be spending their millions climbing mountains and having other wonderful holidays.

    the-muffin-man
    Full Member

    It’s not serious business case led investment.

    But they are a serious business with bricks and mortar shops so why not offer a serious business plan?

    What happens when Mike Ashley comes along waving his chequebook?

    Cake and eat springs to mind.

    footflaps
    Full Member

    No idea what will happen, but not all business owners sell out to the highest bidder at the first opportunity.

    footflaps
    Full Member

    But they are a serious business with bricks and mortar shops so why not offer a serious business plan?

    I guess whatever they offered was enough to raise the money they needed, so it’s been a success.

    My point was I get the impression people are investing because the like the company and it’s ethos rather than because they think it will make the best return and that seems to have worked out well for Alpkit, twice in a row.

    What happens when Mike Ashley comes along waving his chequebook?

    That sort of contradicts your first point, if Chavsdirect bought them out then everything would change anyway, so any plan would have been lost and they’d just start churning out the lowest quality tat money could buy.

    Merak
    Free Member

    I bought a Heiko jacket last year for 69.99 It’s £134.99 this year so for that reason I’m out.

    footflaps
    Full Member

    A few more shareholders have joined…

    We’ve welcomed 2,300 shareholders, raised £2.3m

    Seems to have been very successful for them.

    TheBrick
    Free Member

    Are these real shares or more Brewdogsbollox cheerleader type “shares”?

    This is the real question. It doesn’t matter if it is a publicly traded company or not if they are real shares preferential or ordinary you own part of the company. Is this actually just a discount club or zero interest loan that you give the company?

    jake123
    Free Member

    I really wanted to like them…
    Purchased a circa £70 fleece, and first wear realised the arm was stitched 90degees off (Pretty obvious as it has thumb loops, one lined up with back of hand and the other with my thumb)

    Returned it free, and they sent another… exactly the same issue. Wonky arm.

    Pretty poor quality control at that price point IMO.
    And that was the end of my purchasing anything further, I can pop into almost any outdoor shop and get a fleece with straight arms and change for £70.

    footflaps
    Full Member

    I believe they are real shares* (no idea about voting rights). They also said that investors from round #1 could sell in round #2 – but as I wasn’t one, I didn’t look into it.

    thepodge
    Free Member

    They aren’t “proper” shares, you can only buy and sell them when they say you can. I put some money in at round one and some in at round two but then backed out, after this massive round of fundraising I can’t see them doing another for aaaaages so my round 1 investment isn’t going to be seen again for an equally long time, didn’t fancy handing over more cash.

    footflaps
    Full Member

    They aren’t “proper” shares, you can only buy and sell them when they say you can

    That’s the same with any non listed company is it not?

    A vaguely recall all the shares I’ve had in private companies (employer) have had clauses that I can only sell to another share holder or they have first refusal at the offer price etc. I.e. you’re locked in till the company floats.

    thepodge
    Free Member

    That’s why I put proper in quotes.

    TheBrick
    Free Member

    That’s the same with any non listed company is it not?

    I don’t *think* so (but can always be wrong) some places may place a restriction especially when it’s some sort of employment perk but the not being publicly traded is more you have to go out and buy / sell the share yourself. There are not the reporting requirements on a non listed company, it’s less regulated, but as with any asset you vcan sell what you own normally

Viewing 39 posts - 1 through 39 (of 39 total)

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