THE IRISH founders of a food social networking website are set to brave the BBC's Dragon's Den next Monday night, to seek an investment of £100,000 for 10 per cent of their company.
Chef Niall Harbison, formerly of Peacock Alley, and chief executive Seán Fee, formerly of Davy Corporate Finance, will have three minutes to pitch for investment from the Dragons on the popular BBC 2 television programme. The Dragons are five multi-millionaires, including Peter Jones and Theo Paphitis, who have the option of investing their own cash in companies presented on the programme.
The pair's website, www.iFoods.tv, which has been dubbed "Facebook for foodies", is also run by chef Pieter Plaetinck. It provides free online video recipes as well as a host of social networking functions, including the ability for members to upload their own food content.
Mr Fee said the firm was looking for the investment to hire a full-time web developer.
iFoods currently generates revenues by displaying advertisements on the website and has plans to broaden its revenue model to include product placement.
Based at the Digital Hub in Dublin, iFoods.tv was founded in October 2007 and employs five people.
