Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Zing Zing crowdfund hits £1m mark

22 January 2018 by
Zing Zing crowdfund hits £1m mark

London-based Zing Zing Chinese takeaway brand has hit the £1m mark in its crowdfunding campaign to open its fifth restaurant.

With two days left, the Crowdcube page

The brand, backed by TV chef Jeremy Pang, was founded by Josh Magidson in 2013 after he sold his start-up business Eatstudent to JustEat.

Since then, it's opened four sites in Highbury & Islington, Kentish Town, Kensal Rise and Elephant and Castle following a successful crowdfund in 2016 which raised £411,620 from over 230 investors.

In 2016 Zing Zing's revenue was £1.23m with EBITDA of -£300,000 which includes a £93,000 spend from the last Crowdfund.

Posting on the Crowdcube page, Magidson said: "It's been a fantastic round and overwhelming from our end. The biggest private question we have received from prospective shareholders has been ‘I live in x, we don't have a great Chinese takeout here - when will we get a Zing Zing?' It really validates the reason we launched the business and the potential for growth."

Rewards for investors include discounts on food, baseball caps, chopsticks, hoodies, free launch party invitations, cookery classes with Pang, an all you can eat buffet and a private dinner cooked at home.

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking