US Firm Takes Over Booming Online Gift Retailer
- Notonthehighstreet acquired by US investment firm Great Hill Partners
- Online retailer founded in 2006 by Holly Tucker and Sophie Cornish
- More than 150 employees, 5000 small businesses, 250000 products
- Sales boom during pandemic with 50% revenue increase
- Great Hill Partners takes over from Burda Principal Investments and Industry Ventures
- Financial details undisclosed but expected to be around £150m
Notonthehighstreet, an online gift retailer founded in 2006 by Holly Tucker and Sophie Cornish, has been acquired by US investment firm Great Hill Partners. The company employs over 150 people and manages a marketplace of more than 5000 small businesses selling over 250000 products. During the pandemic, the business saw a sales boom with revenues rising by 50% and onboarding 500 new small business partners. Great Hill Partners has taken full control from previous equity owners Burda Principal Investments and Industry Ventures without disclosing financial details but early reports suggest a £150m deal.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Notonthehighstreet’s acquisition by Great Hill Partners, its founders, employee count, marketplace size, sales boom during the pandemic, and the involvement of previous equity owners. It also includes a quote from the CEO expressing gratitude for past shareholders and excitement for future growth.
Noise Level: 3
Noise Justification: The article provides relevant information about a company acquisition and its impact on sales during the pandemic, but lacks in-depth analysis or exploration of long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Notonthehighstreet’s acquisition by Great Hill Partners impacts its small business partners and investors
Financial Rating Justification: The article discusses the acquisition of an online retailer, which is a financial transaction involving multiple companies and investors, making it relevant to financial topics.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the text.
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