Just two days after its PledgeMe launch, ParrotDog’s highly successful crowdfunding campaign secured over $2 million from over 800 investors. The company decided to close the initiative.
ParrotDog, which was founded in 2011 by Matt Stevens, Matt Kristofski, and Matt Warner, is described as one of the “leading” craft breweries in the Wellington area and has been award Champion International Small Brewery along with two trophies, two gold medals, and multiple silver medal at the Australian International Beer Awards. The company revealed that by moving into a brewery, it will be able to triple production fairly quickly and will have the space to create a brew bar for local Wellington residents.
Stevens previously shared:
“We’re excited about giving our supporters an opportunity to be involved in what we have planned for ParrotDog. We believe offering our investors a direct return on their brewery investment will motivate them in different ways, and help create a community of support around the company. Up until this point, we’ve done everything with debt. We are now turning to our supporters and offering them the opportunity to purchase equity in the company to help take us to that next level of production.”
PledgeMe CEO Anna Guenther also noted:
“We’ve seen such well supported campaigns come out of the beer industry. The fans of these companies are often investing because they love the product, and want to help share what they love with the world.”
After ParrotDog captured the $2 million, Stevens stated:
“We’re really excited to get to the full $2million in just two days. Now it means we can execute our entire plan without any compromise or delay.We’ve met so many people over the past two days that have supported us. We’re currently at Beervana Festival and it’s so great to meet all of our investors who are coming over and introducing themselves If any of our other pledgers want to come by, we’re celebrating at our pop up bar at the Vivian Street brewery tonight until 11pm. This is a public event as part of the Road to Beervana festival.”
ParrotDog Shares were priced at $1 each with a minimum investment of $500. Investors will receive additional rewards with each share parcel sold, including benefits such as a personalized glass handle at the bar, beer, and food discounts. Those who invested over $35,000 received voting shares.
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