10 months ago
46
Former PM’s son’s company also incurs 44 immediate job cuts, most of them in the US
Euan Blair’s apprenticeship company Multiverse has reported a near-tripling of pre-tax annual losses to £40.5m – its seventh straight year of losses since the son of the former prime minister Tony Blair set it up in 2016.
Despite failing to turn a profit, the company was awarded the coveted tech “unicorn” status when it was valued at £1.4bn in a fundraising round driven by US venture capital firms in June last year. That put Blair’s stake in the company at £420m, far more than his father Tony’s reported £60m fortune.
Continue reading...