TheBusinessDesk.com attracts investment from AIM entrepreneur
TheBusinessDesk.com has announced a new tranche of investment just three weeks after the launch of its new West Midlands operation.
Successful entrepreneur Mark Hales has invested an undisclosed six figure sum into the venture that was launched in 2007.
TheBusinessDesk.com has offices in Leeds, Manchester and Birmingham and, employing a total of 17 journalists and support staff, is set to turnover £1m this
year.
The service now boasts more than 32,000 registered users across its three sites in Yorkshire, the North West and the West Midlands and their journalists send
more than 500,000 email bulletins to business readers every month
.
Mr Hales said: “The opportunity to get involved with an established but still young digital business with huge potential and a great brand and market position was too good to miss.
“TheBusinessDesk.com has a great reputation within the business and professional communities in its existing regions, and has developed quickly to take the lead in delivering and breaking quality regional business news, and this investment will allow us to further evolve the now proven business model.”
Mr Hales sold his stake in £65m turnover AIM listed care business Claimar Care Group last year following 10 years building the company. During this time he
took the business from £250,000 turnover through flotation on AIM to become the fourth largest provider in its market employing over 3,000 people and made a
total of 30 acquisitions in the process.
TheBusinessDesk.com founder David Parkin said: “Mark’s experience of growing a small quality business rapidly will be very valuable to us, and he will be a welcome addition to an already very experienced board.
“We have great ambition, and Mark’s backing and expertise will help us move the business forward and take advantage of some of the many opportunities that
are opening up for us in an exciting time for regional business media, both in our existing locations but also potentially in new regions,.”
Mr Hales will join David Parkin, finance director Colin Glass and chairman Chris Jones on the board of TheBusinessDesk.com.
