Of course! Silly me…
It’s not as simple as just the share price going up by some arbitrary multiple. There’s also dilution to take account of (new shares issued in the new round make up a proportion of the total), and additionally the staff’s options pool, which is usually augmented at these times of funding. So given that it’s roughly double, and that it’s actually quite complex under the hood, I think it’s perfectly justifiable to state it as they did. Think of it as a clean user interface .
I know this valuation quoted is the paper valuation and not the necessarily the realised value to expect is sold if you sold .
However the paper value quoted was very exact to 4 decimal places ( A decimal place is position of a digit to the right of a decimal point.)
In this case £14.4125 .
My point is if crowdcube believe that some of their investors are happy with approximate paper valuations then why bother going to a 4th decimal place .
Now if your happy that double £7.7145 is £14.4125 then that’s fine .I am happy for you and would love to do business with you all day long
The point ha nothing to do with the specific valuation amounts - which are precise and correct. It’s over approximating that as “double” to make it easier for people to understand at a higher level. You’re just being a pedant here, which doesn’t really serve any purpose. If you want the valuation precisely, you know it. If you want to understand schematically what happened, you know that too. The point of being abstract is that you lose some precision in order to get a broader picture.
Looks to me like the person writing got the quick arithmetic wrong in their head, thinking 7.71 x 2 is 14.42, rather than deciding that an 86% increase is pretty much double. I could be wrong?
As long as we have calculators and brains of our own to tell us it’s not correct it’s probably not worth dwelling on whether it was a mistake or intentional If the next valuation “doubles” again by 86% we’ll all be happy!