NewMedia SPARK invests in Notonthehighstreet.com
London, 4th March 2007 – Notonthehighstreet.com (www.notonthehighstreet.com), the UK based shopping website that supports over 500 of Britain's most creative small businesses, today announces that NewMedia SPARK plc, the quoted venture capital organisation focused on early stage investments in the digital media sector, becomes a significant minority shareholder in the company. In addition, Tom Teichman, Chairman and Founder of NewMedia SPARK plc, who handed over the first investment cheque to lastminute.com, joins the board of notonthehighstreet.com with immediate effect.
Notonthehighstreet.com launched in April 2006 selling high quality original products from 130 of Britain's best small businesses. Such has been its rapid success that, in less than a year, it now helps over 500 carefully selected quality small businesses to sell over 10,000 products under its unique umbrella shopping website giving an original product offering and service to consumers that is not available on the high street.
Founders of notonthehighstreet.com, Holly Tucker and Sophie Cornish, commented: "NewMedia SPARK's investment in the company is the most exciting news for us, and will make a huge commercial and competitive difference to the small businesses we already support and to the new ones that we look forward to joining us. This investment will enable us to accelerate our expansion plans and launch internationally over the next two years, increase our product categories as well as undergo a series of business developments particularly in the areas of technology and marketing. NewMedia SPARK is a great investor for us with its unprecedented knowledge of the online business world with a portfolio to match. We are delighted that Tom is joining our board: his long-standing experience and reputation, as well as passion and commitment to our business, is amazing."
Tom Teichman added: "Notonthehighstreet.com is a great addition to SPARK's existing portfolio and I am looking forward to bringing our expertise in digital start-ups to the business. Together we are going to fully exploit and grow notonthehighstreet.com's potential to create something of real value in the small business and digital worlds."
About Notonthehighstreet.com
Notonthehighstreet.com now brings over five hundred independent small UK businesses together to sell over 10,000 products under one brand. Notonthehighstreet.com has carefully chosen each small business for its innovative, well-made products to inspire shoppers looking for style, originality and quality, but who never seem to be able to find it on the high street. Now they can browse and buy a wide range of products from this unique small business marketplace using a single on-line shopping basket.
From lampshades to linen, bracelets to handbags, cushions to kids clothes, scarves to stationery, notonthehighstreet.com has a great range of beautifully made, original products and services. Thousands of products are available to buy from a choice of 12 categories: home and garden, art and ceramics, baby & child, jewellery, fashion, health & beauty, stationery & office, food and drink, party & play, pets, travel & getaway and treats & flowers.
Among the unique editorial features of notonthehighstreet.com:
- Each partner (small business or designer) has its own URL and 'homepage' so that shoppers can read background information about them and their latest news and events. Partners are in control of the products they put on the site and sell directly to the shopper. In effect they have their own mini website under the notonthehighstreet.com umbrella.
- Notonthehighstreet.com has a unique gift finder service with the ability to search by price, occasion, for a specific type of person, even making recommendations depending on their style and personality. Shoppers can also create their own wish lists for their friends and family to take a look at on the site.
For further information, see www.notonthehighstreet.com
Biographies of Holly Tucker and Sophie Cornish, Co-Founders of notonthehighstreet.com
Holly Tucker has been a sales professional for over ten years. She began her career at the UK's fourth largest advertising agency, Publicis, servicing major clients such as L'Oreal, before moving to Conde Nast where she grew both new and established advertising revenues on Brides magazine. Headhunted to join premium bridal website, CoolWhite.com, Holly built the entire advertising client portfolio from scratch ready for launch. Most recently she was, for three years, sales manager of London Magazine. In these roles she increasingly identified the difficulties small businesses experience in finding suitable sales platforms, and consequently created Your Local Fair: well-marketed, upmarket fairs that were staged in affluent areas of London.
Sophie Cornish (previously also working as Sophie Vincenzi) is both a journalist and marketeer. She first worked at the National Magazine Co on the staff of Cosmopolitan and Good Housekeeping magazines as a beauty writer and editor. She was a channel editor at IPC Media's online magazine, BEME.com, and she generated content and PR coverage for the launch of the print and poster website WorldGallery.co.uk. Most recently, she worked as a freelance journalist, writing for a number of print titles, including the direct-shopping title PS Magazine, Boots Health & Beauty Magazine, Woman & Home, Brides Magazine, and the Evening Standard, as well as writing a wedding planning book, Your Wedding Your Way (Ebury Press, 2003).
About SPARK
NewMedia SPARK is a quoted venture capital organisation based in central London focused on early stage investments in the technology, media and telecoms sectors. SPARK's portfolio has a particular emphasis on digital media, software applications, technology and communications. As an investor, SPARK expects to add significant value to its investments through active support and strategic direction. SPARK is listed on London's Alternative Investment Market.
Recent successful exits for SPARK include the sale of Mergermarket to Pearson for £120m, the sale of Footfall to Experian for £36m and the sale of Elata to Qualcomm for $57m.