Serial entrepreneur plans £15m London flotation for new startup

 
Oliver Smith
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LONDON-BASED technology startup Rightster yesterday announced plans to raise up to £15m on London’s Alternative Investment Market (Aim) to help fund further investment in its technology.

Rightster specialises in the distribution of online video and operates one of the largest multi-channel networks on YouTube, with a client list that includes The Press Association, The Guardian and Conde Nast.

Charlie Muirhead, chief executive and founder of Rightster said the listing on Aim would “provide us with the access to funds needed to scale the business to reach its full potential, while maintaining its independence”.

Earlier this year Rightster bought Preview Networks, Europe’s leading distributor of movie trailers, to strengthen the startup’s position in the streaming video market.

Muirhead, who founded Rightster in 2011, is a serial British entrepreneur who launched Orchestream, his first software company, when he was just 19.

The listing places a valuation of £50m on the startup, which has forecast annual revenues of £14m for the current financial year.

It is expected to come to market sometime during the final quarter of this year.