Richard Downs

www.Iglu.com
  
  


Richard Downs, 34

www.Iglu.com

What does it do? Provides online ski accommodation.

How it's gone: Downs says the business is close to profitability. Some "natural attrition" of staff as the business has shifted focus, but has benefited from being a specialist site and not depending on advertising.

Valuation: Second-round funding in July 2000 of £2.7m, taking total to £6m. Downs and other management hold less than 40%. At last valuation, his stake is likely to have increased from £2.4m to around £5m.

 

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