Cobh ‘Dragon’ tamer eyes British expansion

A YOUNG entrepreneur who walked away from the Dragon’s Den with a massive investment in her hen party website has already doubled her workforce.

Kate Hyde, 30, who tamed two dragons on RTÉ’s hit show aired on Thursday night, has hired her first employee and is eyeing up an expansion in to the lucrative British market.

And she is also planning to launch a hen party advice book later this year.

Kate, from Crosshaven in Co Cork, went into the den looking for a €30,000 investment for a 20% stake in her business, www.henparty.ie.

Founded in early 2008, it provides a one-stop-shop for hen party planning, as well as offering advice on hotels, restaurants, themes, and paraphernalia.

It generates income through advertising and an online store.

The Irish hen party industry is worth an estimated €130 million annually.

Kate clinched the deal after agreeing to give away 40% of her business to Gavin Duffy, part-owner of the HRM recruitment group and whose property portfolio is worth €100m, and Black Tie founder Niall O’Farrell, who has also set up the Simply Direct snack food business, in return for a €15,000 from each.

“Owning 60% of something huge is better than owning 80% of something small,” she said.

“Walking in to the Den was one of the scariest things I’ve ever done. But I’m absolutely thrilled. It’s a great validation.”

She said the dragons have been invaluable, given their contacts, business acumen, and expertise.

Duffy helped coordinate a complete revamp of the website in recent months and O’Farrell has described her as an exceptional entrepreneur with great potential, passion and energy.

Kate is married to Paul Twohig, a solicitor, and the couple live in Co Waterford.