Is this a startuppy enough headline for you? 17-year-old small business site exits for 6 figure sum.
The “longest serving, largest and most comprehensive small business advice platform” is being acquired by “customer generation and online acquisition specialist” MVF, reports Startups.co.uk – about itself.
That’s right – whilst Startups.co.uk founder, the serial entrepreneur David Lester, will step down from the company to focus on his HR startup Crimson HR, most of the team will relocate to Kentish Town and join 300 other staff who work for MVF’s other “established brands” across the B2B and B2C sectors.
Startups.co.uk was established way back in 2000, when “lean” and “agile” were words you were more likely to hear heptathletes on the telly than in conjunction with small businesses, but times have changed, and startups.co.uk has changed with them.
The site pulled in 4.8m visitors last year, with 50,000 active forum users, enough to earn its team the “Editorial Team of the Year” silver accolade at the British Media Awards.
MVF themselves are no strangers to awards, having placed fourth in the past in The Sunday Times’ list of “Best Companies to Work For”, and been ranked in the top five of the Startups 100 index, compiled by…you guessed it, Startups.co.uk.
Happy days, then; “this acquisition – by a company so well aligned with our brand values – will only serve to further growth and enable the site to reach new heights”, says Startups Editorial Director Ian Wallis, about the acquisition.
MVF’s CEO, Titus Sharpe, had this to say: “We are delighted to welcome the Startups team to the business. There is a real sense of excitement between Startups.co.uk and MVF – they are a really dynamic team who have the same drive and ambition as MVF, and one of the MVF founders was a ‘Young Gun’ back in 2011.
Although MVF have not released details about how much they paid for the acquisition, a figure of £1 million has been quoted by one source.
Crimson Startups Limited, Startups current parent company, also owns Growingbusiness.co.uk, Mybusiness.co.uk and is4profit.com.
The acquisition is further proof that not only is the startup eco-system in London and the rest of the UK, thriving, so are the agencies that cover it in the media. Last year, The Memo received £280k from angel investors Andrew Dixon and Paul Field, to help grow the business.