Looks like there is quite a story here (allegedly).
See pages 3 and 4 of the comments
CityCyclingEdinburgh Forum » Infrastructure
Vulpine sample sale now on but website flaky
(72 posts)-
Posted 7 years ago #
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dearie me
Posted 7 years ago # -
See pages 3 and 4 of the comments
I did. I met Nick a few times back before there was any real money in (or not in, as the case may be) the company. He was a genuinely nice guy and totally obsessive about cycling and design. He bought us dinner and drinks. I sent him a few prints of his favourite cyclists in lieu of payment. At that point they were all hugely enthusiastic and running the company mainly on their own money, goodwill, favours and a wing and a prayer.I bought 1 pair of lycra-free shorts which promptly fell to pieces and a merino top that I'm still wearing 5 years later.
Nick used to be a nightclub promoter on the Manchester scene, he said he got out of that business when the heavies came knocking and looking for their cut. I really hope he doesn't find himself in a situation like that again. Businesses come and go, many just don't make it despite all the efforts of their founders. It would be very sad if the rumours on those sites were remotely true.
Posted 7 years ago # -
@kaputnik, looks pretty certain there was funding from people you would not want to be funded by who came and took their money back the day before the firm went into administration. Leaving 588 small investors out of pocket.
I had a nice email exchange with Nick. However, he tried to do a second crowd sourcing after the successful first one when he knew he was in bother...
The editor of road.cc wades into the comments of the Portland based fixie girl but that poster did seem to know what she or he was talking about whereas the rest of us were more gullible? I was emailed to see if I would invest but that is not my scene
Posted 7 years ago # -
Posted 7 years ago #
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I have read a few of the blogs and the Bikebiz piece.
If you were kind you might say Hussey was a dreamer who got it wrong.
If you were unkind - or one of those stiffed in the Crowdcube fundraising - you might be calling him a fraud sho lined his own pockets while the company failed.
Sadly, in the case of crowdfunding, it appears to be caveat emptor........
Real shame, I liked (and own) a fair bit of their stuff.
Posted 7 years ago # -
I've always been wary of crowd funding seems like all of the risk for very little of the benefit. Having been burned by Pebble folding before even finishing its Kickstarter commitments I'm now sworn off it.
Posted 7 years ago # -
I've always thought it's just a way of getting very cheap capital at very little extra personal or institutional risk to the crowdfundee. Saying "give us another six months" to a bank is quite hard, whereas on a crowdfunder it's just a case of writing an apologetic blog post.
Posted 7 years ago # -
Posted 7 years ago #
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Sorry. Duplicated the above.
Posted 7 years ago # -
That's alright!
Posted 7 years ago # -
Foxy founder Nick Hussey is now trying to flog me wax cotton cagoules on facebook from his base in Somerset. Road.cc did allow him to rebut some of the wilder claims of the people who lost money in the two crowdcube funders but still a grey Fox.
Posted 3 years ago #
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