NewMedia SPARK PLC
21 December 1999
NewMedia SPARK invests £500,000 in WatchMyPrice.com
NewMedia SPARK plc ('SPARK') announces that it has invested
£500,000 to acquire a minority stake in WatchMyPrice.com.
WatchMyPriceWatchMyPrice.com ('WMP'). WMP was founded three
months ago by Max Woon, Roland Arlt, Jin Choon Lim, and
Chen Peng Lim and is SPARK's first investment in a startup
based in Silicon Valley. The founders have previously held
positions with Deutsche Bank, Goldman Sachs,
PriceWaterhouseCoopers, NASA and CERN and have top computer
science and mathematics degrees from Cambridge University,
Imperial College and the University of Manchester.
ItWMP has developed streaming 'micro-browser' technology
with analysis & e-commerce tools which allow the user both
to obtain and aggregate real time data from multiple web
sites, and transact based on that data. The micro-browser'
sits as a small open window within the user's desktop and
allows the user to monitor key data changes within multiple
sites in real time whilst working on other applications.
SPARK believes that there are very widespread potential
applications for this technology are widespread and includes
deriving real time financial price data, sports scores from
multiple web sites to intelligent business transactions such
as business-to-business procurement price monitoring and
alerting.
The funds invested by SPARK will be used by WatchMyPriceWMP
to hire additional development personnel and to conduct a PR
and marketing surrounding campaign for the first product launch.
Andrew Carruthers, COO of SPARK, commented:
'We are delighted to have been been able to secure this
investment in Max, Roland, JC, CP and the rest of the
WatchMyPriceWMP team at an early stage in the development
of business. We believe widespread adoption of this
technology has the potential to significantly alter
web browser usage patterns in several important
applications worldwide. The potential upside is therefore
very large, making this an appropriate investment for us as
part of a balanced investment portfolio.'
WMP is the eighth investment by SPARK since its shares began
trading on the Alternative Investment Market on 28th October
1999. Its seven previous investments were in Digital
Animations Group plc, Bridge4u.com, Linkguard, easier!,
Crocus, Hotbox and Skillvest.
For further information please contact:
NewMedia SPARK 020 7629 8181
Andrew Carruthers
Buchanan Communications 020 7466 5000
Isabel Petre / Tim Anderson
Michael Whitaker
10INVEST.COM PLC
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