Sokratis Papafloratos: Trusted Places
Focus: Social network for local reviews
Sokratis Papafloratos, 30
Company: Trusted Places
Trusted Places, which is backed by Howzat Media to the tune of £1m, initially provided user-generated reviews for restaurants, bars, pubs and clubs. However, steady growth has seen the company, co-founded in 2006 by Sokratis Papafloratos, add ratings of everything from sport and leisure clubs to shops and hotels. Throughout the past 12 months, membership has grown by 85%, reviews by 238%.
Meanwhile, turnover will more than double during 2010 as the website reaps the rewards of a diverse revenue model, which includes white label partnerships with the likes of DMGT and Associated Northcliffe Digital, along with premium subscriptions, traditional advertising and affiliate bookings