Sizable: Crowdfunding Campaign! …Again
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Publication Date:
March 31, 2021
Source:
North American Case Research Association (NACRA)
The Sizable Case presents a decision situation. The case setting is Brussels, early November 2017. Marie Martens was at that time the newly appointed CEO of the start-up company Sizable, which was a specialist in men’s undergarment made from eco-friendly bamboo, eucalyptus, and organic cotton. Since its start-up in January 2015, the company had shown high growth potential, and Martens felt confident that by further scaling up the business, Sizable could be leveraged into a position in which it would be highly profitable. Martens was not the only one who had faith in Sizable’s attractive prospects. Since March 2015, multiple investors had put their money at stake, either directly as private investors in the company or via the company’s three crowdfunding campaigns. In November 2017, Sizable needed 100,000 euros of additional financing. Together with the other members of the management team, Martens had prepared a business plan and proposed prompt action to secure extra funding over the month of November. While the decision to move forward with a new crowdfunding campaign was made, Martens worried about the risks of a fourth round of crowdfunding. Failing would not only mean a lack of funds, but also a stained reputation. Martens wondered how she could make this campaign even more successful than the previous rounds. She had several concerns: first, how would the market react to the change in the management team, with the firm now led by a female CEO; second, whether to use a different crowdfunding platform or rely on one of the platforms used in the past; third, would she be able to deal with investors’ typical concerns about break-even and dilution; and finally, what share price would be most appropriate. She had to decide very quickly on these issues since the new crowdfunding round was set to begin before the end of the month.
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Sizable: Crowdfunding Campaign! …Again
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