Member Article

notonthehighstreet.com see 132% valuation increase in year

Online marketplace notonthehighstreet.com has seen its valuation jump from £4.7 million to £11 million due in part to a substantial stake sale to a third party.

While the website which specalises in inspirational and unique gifts has increased its valuation by 132%, SPARK Ventures announced that the valuation of their stake in the website has risen from £4.5 million in September 2011 to £11 million at the end of March this year - an increase of 148%

Early stage venture capital company SPARK Ventures plc was the first outside investor in notonthehighstreet.com but sold 7% of its stake for £0.8 million earlier this year in order to allow the website to raise new funding from Fidelity Investments.

SPARK has recorded proceeds of £1.8m from the notonthehightstreet.com representing an internal rate of return of 83% a considerable accomplishment which has seen their original investment costs recouped.

notonthehighstreet.com was founded by Holly Tucker and Sophie Cornish as a place to find unusual gifts. All items which are sold on the website are designed, made or selected by independent small businesses. The company has won many awards and most recently was featured in the Daily Telegraph’s Top 100 Tech Start-ups for 2011.

This was posted in Bdaily's Members' News section by Francesca Dent .