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BrewDog reaches £3m crowdfunding landmark as craft beer fans clamour for shares
Innovative ‘Equity for Punks’ crowdfunding scheme has passed the £3m mark ahead of schedule, leaving just £1m of shares left in its innovative offer
Scotland’s largest independent brewery, BrewDog has officially broken its own crowdfunding record, raising £3m in two months through selling shares to beer fans with its innovative ‘Equity for Punks’ scheme. The record-breaking start to the campaign takes the brewery three quarters of the way to reaching its ambitious £4million target in less than a third of the time it allocated to the programme.
The company – Britain’s fastest growing food and drinks brand – made 42,000 shares available to anyone to buy online at £95 each, ignoring traditional methods of funding to support its continued rapid growth. Unlike many crowdfunding programmes that simply look to raise donations in return for fringe benefits, BrewDog is offering equity in its business. The cofounders of the brewery, renowned for brewing bold and creative beers, plan to use the funds raised to further expand its new brewery, its burgeoning bar division and a new series of bottle shops across the UK.
- Equity for Punks launched on Thursday 20th June with founders James Watt and Martin Dickie driving a tank around the Bank of England with an army of beer fans in tow.
- The brewery raised £1million on the first day of the punk offering as beer fans scrambled to buy equity in the business and is expecting a rush for shares following today’s announcement.
- The FSA accredited Equity for Punks scheme allows anyone to buy shares in the craft brewery online at the click of a mouse.
- As well as owning part of the BrewDog business, Equity for Punks shareholders are also given a lifetime discount at BrewDog’s growing portfolio of craft beer bars, and at BrewDog.com.
- BrewDog has achieved an average annual growth of 167 per cent over the past five years and the company is valued at over three times the value it was given during the last Equity for Punks scheme in 2011.
- BrewDog now hires 187 staff, exports to 38 international markets and is on track to turnover £20m in 2013.
- BrewDog’s biggest success in the past year has been the growth of its bar division, opening 12 bars since 2010 – largely funded by Equity for Punks investment – including its first international location in Stockholm, Sweden.
- With every share, investors will also be given a lifetime 5 per cent discount in BrewDog Bars and up to a 20 per cent discount on BrewDog’s online shop depending on how much they invest.
- Equity for Punks members will also be invited to attend the company’s notorious AGM – the latest of which took place on Saturday June 22nd, including punk rock bands and beer tastings.
- Shares are available to buy now at www.brewdog.com/equityforpunks
BrewDog co-founder, James Watt commented:
“Raising £3million in just two months demonstrates the epic support behind the craft beer revolution. We are now well past our previous record of raising £2.2m in 2011, and fast approaching our £4m target, with over 10,000 individual investors now owning shares in BrewDog. Equity for Punks is rewriting the rules of business finance and it’s putting our customers right at the heart of our operation.”
“The phenomenal success of Equity for Punks has proven how much our fans believe in our mission to redefine the UK beer scene. We want this expanding community of beer punks to share in our growth and come along for the ride.”
You can download the full press release and high resolution images below.