FCA approves £10m acquisition of Musicmagpie by AO World Retail The UK’s financial watchdog has approved the acquisition of Musicmagpie by AO World for £10m. First announced in October, the deal will see the electrical retailer acquire Musicmagpie for 9.1p per share, a fraction of its market capitalisation at IPO in 2021. It floated with a share price of 193p. Bolton-headquartered AO sells white goods [...]
Ladbible and Onthebeach founders back investor led by Steven Bartlett’s former business partner Investing The founders of Ladbible and Onthebeach have backed a venture capital firm that is led by the former business partner of Dragons’ Den star, Steven Bartlett. Solly Solomou, the chief executive of Manchester-headquartered Ladbible Group, has invested in Wilmslow-based Fearless Adventures alongside Onthebeach’s Simon Cooper, who will become its chairman. Solomou has invested through his [...]
Electrical supplier AO World snaps up Musicmagpie in near-£10m deal Tech London-listed online retailer Musicmagpie will be snapped up by AO World as the electrical supplier looks to enhance its presence in consumer tech.
Revenue drops for Musicmagpie as it struggles in the competitive second-hand market June 28, 2024 Musicmagpie has slashed costs to offset lower revenue.
Musicmagpie sees earnings boost from Black Friday and its ‘smart for the planet’ solution March 13, 2024 Musicmagpie has reported a boost to annual earnings after the second-hand smartphone seller experienced a "record" Black Friday last November.
The venture capitalists with a ‘shared vision to positively impact the world’ January 18, 2024 A group of venture capitalists have launched a £5m fund with the aim to invest in up to 12 businesses in the next 18 months.
Musicmagpie share price soars after strong results on Black Friday tech sales December 14, 2023 Musicmagpie shares soared as much as 24 per cent on Thursday after the second-hand smartphone seller said it saw a record Black Friday.
BT and Aurelius walk away from Musicmagpie deal November 27, 2023 BT and Aurelius Group have both confirmed today they have no intention of making an offer for Musicmagpie
The Notebook: Susannah Streeter on Jeremy Hunt, Dua Lipa and the advent of the YIMBYs November 22, 2023 In today's Notebook, Susannah Streeter talks the autumn statement, the NIMBY-YIMBY pipeline and the need for ISA reform.
Musicmagpie eyes sale of business as value plummets November 20, 2023 Musicmagpie has failed to break into the US market with sales in the region plummeting from £18.4m to £14.7m in the first half of 2023.