That might be true on the continent, but not in the UK. We've been profitable since month one, grown out revenue and profits by >100% YoY, and VC cash just ain'

That might be true on the continent, but not in the UK. We've been profitable since month one, grown out revenue and profits by >100% YoY, and VC cash just ain't worth it, as on this side of the pond the best earnings to value multiplier you'll get is about 1.5. Not 15, not 150, 1.5. We net about £.6m/yr, ergo our value is about £.9m, tops. If you have no revenue - you'll get a 50x multiplier on your theoretical revenue, no problem. VCs are NOT INTERESTED in profit-making businesses. They just want a white elephant to pump and dump.