Reading the articles quoted here: £7m offer, the reasons for the big site clearout of 2014 have become crystal clear. The article says that they allegedly rejected a £7m offer in 2014. As one of our contributors pointed out, the articles seem to contradict each other, which puts in doubt the validity of their claim.
So if it had a total value of £7m (can we have some of those LB flying pigs here please?), it follows an offer for majority ownership would be less than £7m, or else the company has a total value of over £7m. All this is irrelevant though as Legal Beagles is worth £7m funny money notes.
Regardless of the numbers, the fact is, they were considering selling the site in the beginning of 2014. In fact, they were considering that since the summer of 2013 when the rumours first started spreading through the grapevine, only then the site was 5 times more valuable: a cool £35m! At that time the total membership base was around 35,000 so some clever beagle decided that they could charge £1,000 for each member and make it £35m. Anyone who knows the first thing about business would see the problem here: a long list of members doesn’t mean much if most of them are not active.
The fact is, they were thinking of selling the site but there was a little obstacle on the way: what would happen to those people who had built up and run the site over those six or seven years? The honourable thing to do would be, of course, to give them their share. There were also one or two people working behind the scenes, people you didn’t see all the time but who were instrumental in helping Kate get her foot in the door at Howlett Clarke. Those people would probably also like their share. There had been others who’d built up the site and had been either banned (see the Ban Club) or been told to bugger off (see the Buggered Off Club).
Once those rather troublesome people were out of the way, the Beagles could get on with the task of attempting to get the best price for Legal Beagles without having to worry about sharing out the profits. The Cull was planned in such a way as to make the Banned Beagles look like they’d been up to no good and deserved to be fired, evicted, sacked, jettisoned, ejected. Whatever you want to call it, the timing can’t be a coincidence.
£7m offers don’t just come out of the blue, if there was such an offer (or any other offer for that matter), in April 2014, then it can be safely assumed that negotiations would have been afoot a couple of months earlier. The Mass Cull took place the last week of February 2014.