It’s a brave man who becomes CEO of internet colossus Friends Reunited at a time when its phenomenal growth appears to be stalling. But from day one, Michael Murphy set about strengthening the brand, turning a potential one-trick wonder into an attractive acquisition for media giant ITV.
Benchmark Capital, an early backer of internet success story eBay, has contributed a multi-million pound investment in commercial music licensor Ricall.
There was a time, as the new millennium hove into view, when anyone with a dotcom suffix attached trailer-like to the back of their business imagined their fabulous future was assured. Raising money was easy even without a business plan, as business angels, venture capitalists and investment banks fell over themselves to stump up bundles of cash with the hope of backing the next worldwide web sensation.
Online games outfit Midasplayer.com has turned some of its equity to gold, after leading private equity investment group Apax Partners came in for a €34 million minority stake (around £23 million).
John Perceval swapped a comfortable golfing retirement life to start an internet business in 1996. He tells GrowthBusiness why, now he’s back at the coalface, he’s not quite ready to retire again just yet.
