Daniel Nabarro, the founder of Figleaves.com and who still owns a significant percentage of the business, could be set for a major payday according to a report in the Times:
The company, headed by Julia Reynolds, chief executive, has recently received several bid approaches and has hired GP Bullhound, a corporate-finance firm, to advise it.
Any deal is likely to value Figleaves at more than £40m, according to analysts. A sale would provide a windfall for founder Daniel Nabarro, who still owns a big slice of the equity. The largest shareholder is Balderton Capital, the venture-capital firm, with a stake of between 30% and 40%. Reynolds and her team also own a percentage of the shares.
The potential sale is still at an early stage, the Times stresses, and it is not clear who the bidders are.
