Wednesday 20 September 2017

Maloney to cash in with Hut float

Nick Webb

Nick Webb

Barry Maloney -- the Simon Cowell of technology investment -- could be set to make a killing with the flotation of online retailer The Hut, which is set to raise over €120m on the market after summer.

Mr Maloney's venture-capital firm Balderton is one of the largest investors in the internet shopping company. An IPO is likely to value The Hut at close to €350m.

Balderton invested €17m in the company with other backers at the start of 2010.

Former Marks&Spencer boss Stuart Rose and ex-Tesco chief Terry Leahy are also investors in the online retailer.

Sunday Indo Business

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