Gordon Burns quiz clinches Â£300k
A Cheshire business which is producing an interactive TV quiz hosted by former BBC North West Tonight and Krypton Factor host Gordon Burns has raised £300,000 through crowdfunding – £100,000 more than it was aiming for.
The Challenge Factor IPTV Ltd's original target was £195,000 towards its venture Quiz The Nation and it has now closed after securing £300,000 – 154 per cent of its target. A total of 202 investors supported the bid.
Managing director Guy Morris told Insider the company had always hoped to get about £300,000.
"We didn't want to be too aggressive but felt that was right," he said. "There is definitely some risk with crowdfunding but it's also publicity.
"We've got 202 evangelists of the show who had a real interest in pushing it. When you go to a bank and get funding, no one hears about it so we wanted to get a bit of fuss."
The company is now working on perfecting its mobile app ahead of the launch next year. A launch was planned for autumn, but this has been pushed back to January.
"This gives us enough time for the revisions of the app," said Morris. "It's mainly the polish and smoothness of the operation we're working on and we want to get it right. Part of why we pushed it back is also because pubs are so busy in the run-up to Christmas."
The business has recently been in talks with pub groups, including Enterprise, Admiral, Everards, JW Lees and Robinsons. This is "going well", Morris said.
"The challenge is generating interest and translating it," he added.
The number of pubs signed up for its maiden show has not been confirmed but the business is aiming for 50 locations.