All systems go: Betfair valued at £1.5bn, AlertMe secures £15m

Betfair has set an indicative price range of between £11 and £14 a share for its imminent IPO, giving the online betting exchange an equity value of as much as £1.5bn.

Balderton Capital-backed Betfair recently received shareholders’ approval to list – first announced last month – and it now looks as though Betfair may enter the FTSE 250, based on the price range made public this year.

Goldman Sachs and Morgan Stanley are acting as joint sponsors and bookrunners on Betfair’s offer.

Betfair, set up in 2000 by Ed Wray and Andrew Black, weathered the financial storm, with revenue rising some 27 per cent to £303m in the financial year ending April 2009. EBITDA also increased 29 per cent, to a record £72m.

Balderton Capital already realised part of its investment in Betfair four years ago when Softbank, a Japanese internet group, bought a 23 per cent stake in the business for £355m.

Betfair has twice won Company of the Year at our Growing Business Awards. Proof that winning a gong at our Growing Business Awards can lead to great things?

AlertMe

Meanwhile, it’s also been a good week for online energy management company AlertMe, which has raised £15m in a second round of funding.

Good Energies, Index Ventures, SET Venture Partners and VantagePoint Venture Partners all re-invested in AlertMe, while British Gas also participated in the round as a new strategic investor and commercial partner.

As part of the strategic investment, British Gas has agreed to deploy AlertMe products and services to its customers throughout the UK. British Gas has also taken a seat on the AlertMe Board.

AlertMe’s home area network and cloud-based platform provides two-way communication for real-time monitoring, control and analytics. It allows consumers to manage and control a wide range of home activities over the internet and via their smartphone.

“We see an enormous global opportunity for the bvalue proposition that AlertMe offers customers,” comments Saul Klein at Index Ventures. “As more people look to manage their homes in a smart way, the AlertMe platform is well positioned to support this transition in easy-to-use, personalised and affordable ways.”

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