Cricut is headed to Wall Street with an upcoming $322M Initial Public Offering (IPO), so CRCT stock will be available on the NASDAQ at a price range of $20-$22.
Regan & Scone with Cowbutt Crunchies Cosplay join me to break down what exactly is in Cricut’s SEC filing and how it could affect the crafting community.
Read the SEC filing for yourself: https://sec.report/Document/0001564590-21-013306/
https://www.nasdaq.com/articles/crafting-machine-maker-cricut-sets-terms-for-%24322-million-ipo-2021-03-16
Over on the Cowbutt Crunchies Cosplay channel, we’re talking about how the Cricut debacle caused a ripple wave upon the influencer community. Watch this video next!
Yes, this is a bit overkill with the Cricut videos. We had planned this before the latest reversal announcement, so I understand if you want to take a break from this topic. Next week we’ll be back to regularly scheduled programming with a sewing video. Hopefully this is the last Cricut video for a while.
Cricut corporate has just announced it is completely backing off its original intention to limit the free version of Design Space software with 20 uploads per calendar month.
March 18, 2021
Dear Cricut Community,
On Friday, March 12, we announced an intention to limit the number of personal images and patterns that members can upload to Design Space without a Cricut Access subscription. We updated this plan on March 16 and shared that we intended to study the matter further. My team has spent the week listening, learning, and taking in a lot of feedback. Not every decision we make is perfect, but we take every opportunity to learn and get better.
So, we’ve made the decision to reverse our previously shared plans. Right now, every member can upload an unlimited number of images and patterns to Design Space for free, and we have no intention to change this policy. This is true whether you’re a current Cricut member or are thinking about joining the Cricut family before or after December 31, 2021.
We care deeply about every single member of our community, and it’s your creativity that keeps us motivated, excited, and passionate every day about what we’re building here at Cricut.
Thank you for your candor and your commitment to our company and community. We appreciate you.
ashish arora (Cricut ceo)
Let’s talk about this move and what it means for our community moving forward. I have also been in touch with Cricut’s PR team and will share my interactions.
Going LIVE on YouTube at 7:05PM ET on Thursday, March 18, 2021 to get your reactions:
Live stream from March 16, 2021
Cricut has now released a new statement – what are your thoughts?
(Information current up to 3/16/21 – any updates will be posted here)
*Obviously not sponsored, but I am (for now) a Cricut affiliate
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https://inspiration.cricut.com/new-features-and-updates-coming-to-design-space/
https://www.change.org/p/cricut-cricut-design-space-update-petition?redirect=false
https://www.change.org/p/cricut-cricut-to-retract-the-new-policy-of-paying-to-use-the-machine-you-have-purchased?redirect=false
https://cricut.com/en_us/legal
https://www.facebook.com/OfficialCricut/posts/do-i-have-to-pay-to-use-the-software-or-to-upload-my-own-imagescreative-freedom-/10151873898586434/
http://www.tabberone.com/Trademarks/HallOfShame/CraftSites/Cricut/lawsuits/11cv0297_20110124_Complaint.pdf
Cricut SEC filing
https://sec.report/Document/0001564590-21-010926/
https://www.businesswire.com/news/home/20210209005422/en/Cricut-Files-Registration-Statement-for-Proposed-Initial-Public-Offering
WARRANTY: Cricut does not guarantee or warrant uninterrupted use of the product or its supporting software.
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