Kiosked has received 5.75 million-US dollar investment from Rovio’s chairman Kaj Hed, the Finnish Funding Agency for Technology and Innovation (Tekes) and private investors. This is the Hed’s first major investment outside the Angry Birds parent company Rovio. Kiosked is a platform for branding, ecommerce and loyalty rewards.
According to Kiosked CEO and founder Micke Paqvalén, the funding will be used to expand Kiosked’s manpower and international growth. The company expects Rovio’s chairman to bring business experience to a relatively young company.
- We are very proud and I’m confident that [Kaj Hed's] invaluable business experience and vast networks will help us to speed up the execution of our growth strategy. We are looking for top talents as we expect to quickly grow from today’s 30 to 100 employee, The Arctic Startup quotes Paqvalén saying.
- Disrupting and re-shaping any industry is always interesting. Kiosked is the first to connect brands with their online business logic through their content and fans. It is going to create new paradigms that will change the way brands engage with consumers forever, Hed says according to Digitalmediawire.
Kiosked lets brands and content owners update the images, videos, and linked content, no matter if it's embedded on someone's blog or posted on their Facebook wall. Consumers can forward Kiosked content and get rewarded for any purchases made as a result of their sharing.
According to Arctic Startup, the number of Kiosked publishers has increased more than 100 per cent per month since January, and the company claims that the number of Kiosked brands is close to 10 000 with more than 10 million products for sale. Revenue wise, the company did around 200 000 euros turnover in 2011 and is expected to do well over one million euros this year.
Rovio’s Chairman makes a major investment in Kiosked