Instagram mogul invests in foodservice equipment company

WIRED Business Conference 2015

Instagram co-founder Mike Kreiger has emerged as an investor in British pizza oven brand Gozney. 

The social media entrepreneur is among investors – including rapper Professor Green – that bought into a crowdfunding campaign launched by the firm to finance its expansion plans.

The campaign, which was set up in June with a target of £500,000 in mind, has raised £1.8 million, meaning it has overfunded the target by 360%.

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The money raised will be used to accelerate the firm’s overseas expansion and to fund the innovation of new consumer products.

Mr Kreiger said he decided to invest in the brand, which makes commercial and consumer ovens, due to his own personal experience of its Roccbox product.

He explained: “I purchased my first Roccbox last year and it’s incredible. Every time I post a pizza photo on my Instagram Stories I get several people reaching out curious about the Roccbox. When I learnt Gozney were seeking investment I decided to back them as I feel they have amazing global growth potential.”

With triple-digit international sales growth over the past 2 years, Gozney is primed to expand quickly into additional markets.

The company’s founder and CEO, Tom Gozney, said: “Surpassing our funding target three times over is testament to the talented and creative team here at Gozney. We’re delighted to welcome investors who will be joining us for the next chapter of our journey as we aim to continue our pizza revolution.

“The money raised is going to support us in delivering the next stage of growth for the company. With so many novel projects on the horizon, we’re excited for what the future holds and rewarding investors for their support.”

Since its 2011 inception, Gozney has become a trusted partner of the best in the industry, boasting an impressive client list including Franco Manca, Pizza Pilgrims, Homeslice, Temper and L’Enclume.

The company’s growth was fuelled by the 2016 launch of Roccbox, the world’s first portable fire and stone oven, bringing true Neapolitan style pizza to the masses in the comfort of their own gardens across the US, Canada, the UK, Europe and Australia.

Tags : businesscrowdfundinggozneyinstagramMike Kreiger
Patrick Cremona

The author Patrick Cremona

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