Brent Hoberman
In 1998 Brent Hoberman co-founded Lastminute.com, an online travel and gift business that floated at the peak of the dot-com boom, and went on to become one of the UK’s most high profile and successful websites. The company floated in 2000 and was acquired by Travelocity Europe, a division of Sabre Holdings Corporation, for more than US$1.0 billion in 2005.
Brent is an angel investor in several internet companies, including Viagogo and Wayn.com, where he will shortly take up a Non-Executive Chairman position. He also sits on the board of Guardian Media Group plc and is a Governor of University of the Arts, London.
Brent is currently launching Mydeco.com, a new venture with his Lastminute.com co-founder Martha Lane-Fox in which SPARK is lead investor. Mydeco aims to help people decorate their homes by providing a platform to mix and match home decoration online, combining design tools with easy access to the highly fragmented array of suppliers to the home improvement market.
On the relationship.....
"Martha Lane-Fox and I met SPARK in early 1998 when they invested in Lastminute.com. Right from the start they took a very instinctive approach, and were supportive of us as entrepreneurs from this first meeting.
SPARK stood out from other VCs in their ability to take quick instinctive decisions, to understand the consumer gap in the market, the applications of technology to the problem and a strong commercial approach. Overall SPARK is a very supportive team, that doesn't get easily rattled when the going gets tough, and adds value across the spectrum.”
On "Lastminute.com"....
“SPARK came up with the first cash offer in half an hour and then the idea of a bridge loan for our second round instead of increased dilution before we could get the right valuation. Also SPARK's experience on the IPO market and dealing with major financial institutions was key in exiting.
On "Mydeco.com"....
“As a result of the trusting relationship we built up over the years, I approached SPARK again this year when I was setting up my new venture, Mydeco.com. Yet again, SPARK showed an instinctive grasp of the concept quicker than all other VC's, great speed in cutting a flexible tailored deal that really suited the business plan. They also brought into the round a group of very value added co-investors from related fields who will help to make the business a success.”