This Irish Times has a big story this morning -
GOSHIDO, A Limerick company which has developed software for managing projects, has completed a private fundraising round using only the social networking website LinkedIn.
According to executive chairman Frank Hannigan, the company is selling off 10 slots to investors at €25,000 each – each equivalent to a 2 per cent stake in the company.
Seven hundred e-mails were sent to potential investors through LinkedIn earlier this month, generating 200 replies by phone, e-mail and Twitter. The company raised €162,500 in just eight days.
Goshido founder Ger Hartnett is a regular at OpenCoffee Limerick, a founding organizer of Bizcamp Limerick and all around good guy who's always willing to share great advice to fellow entrepreneurs. And his new executive chairman Frank Hannigan who I only got to know recently is certainly cut from the same cloth. In short I couldn't be happier for these two guys and the rest of their team. Well done lads.