NewMedia SPARK PLC
20 April 2000
NewMedia SPARK invests further £250,000 in £2.35m second
round funding for Crocus.co.uk at significant uplift in
valuation
NewMedia SPARK plc, ('SPARK') the AIM-quoted internet and
technology investment company, today announces a further
investment of £250,000 in Crocus.co.uk Ltd, the gardening e-
tailer, in its second-round financing.
The investment forms part of a £2.35m second round financing
and indicates a significant increase in the Company's
valuation since its first fundraising in December 1999.
In December, SPARK led a seed round, with an investment of
£750,000 along with a consortium including Lord Rothschild,
which invested a total of £1.5m in the Company. Crocus.co.uk
launched its gardening e-commerce and community site on
April 2nd of this year.
Mike Whitaker, chief executive of SPARK, said: 'We are very
pleased to be participating in a further financing round
which indicates a significantly higher valuation than our
first funding. We have been impressed by the speed of the
company's growth and the team the management has assembled.
We are confident that Crocus is fast establishing itself as
the UK's leading on-line gardening resource.'
Mark Fane, chief executive of Crocus.co.uk, said: 'We are
delighted that NewMedia SPARK participated in this second
round financing which gives the Company a sound financial
basis on which to develop. NewMedia SPARK have continued to
add significant value through their hands-on management
approach and their contact base and will continue to help
the business develop rapidly over the next twelve months.'
____________________________________________________________
For further information, please contact:
NewMedia SPARK
Michael Whitaker 020 7887 4510
Crocus.co.uk Ltd
Mark Fane 01344 628081
Buchanan Communications
Lisa Baderoon 020 7466 5000
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