Lastminute founders start-up again
Hoberman and Lane Fox to hit cyberspace with home decorating business
Brent Hoberman and Martha Lane Fox, the founders of Lastminute.com, are to team up again to launch an online interior decorating company, it has been reported.
MyDeco.com is being backed by private equity firm New Media Spark and the Arts Alliance which also financed Lastminute.com.
Hoberman is to be executive chairman of the company whereas Lane Fox will work as a part-time director.
Their company will be to advise people on how to decorate their homes, sell furniture and fittings and to help them avoid ‘faux pas’ when picking goods.
Hoberman is believed to have amassed about £5m in funding, although an exact breakdown of the financial backing has not yet been revealed.
Hoberman has been recruiting his team for the new company for a number of months. He told Growing Business in an interview earlier this year that he was planning a new launch although couldn’t reveal that it is Mydeco.com.
In an interview with the Sunday Times he said that Lane Fox’s contribution would be vital as he was targeting a largely female demographic.
“She was a great partner at Lastminute. She will be very helpful in that we are targeting a large female demographic,” he said.
However, Lane Fox, who also has roles as a non-executive director at Channel 4 and Marks and Spencer, will only be spending half a day per week at the company.
She is still recovering from a serious car crash three years ago when she was nearly killed.
© Crimson Business Ltd. 2007