Calver cut his teeth at Dell Computers before becoming the boss of DVD online rental firm Video Island, which merged with LoveFilm in 2006. I’ve always loved movies and saw an opportunity to disrupt the existing rental market by providing a service that was cheaper than the high-street and offered more choice,” he told us when we interviewed him as part of our My First Million series, in asociation with Orange.
Calver has built the company into Europe’s largest online DVD rental company, with over 1.2 million subscribers. With a seven per cent stake in the business, he stands to make £14m from the sale.
The remainder of the business is owned by Amazon, Balderton, Index, DFJ Esprit, European Venture Partners and a number of business angels.Analysts believe a private equity firm would be most likely to buy the company.
We’ll keep you posted.