2011 Tech Track 100
Rank: 3 musicMagpie.co.uk
Offers 16 new football kits in exchange for 400 old CDs or DVDs
People who want to trim down their music or film collections can trade in their CDs, DVDs or computer games for cash on Musicmagpie.co.uk. The Cheshire company’s software lets users scan the barcodes into their webcam and gives them an instant valuation of between 30p and £3. Those who only want to de-clutter can arrange for the proceeds to be sent to a charity. Sales at the company rocketed 205% a year under founders Steven Oliver and Walter Gleeson, from an annualised £1.1m in 2008 to £30.8m in 2011. This year Musicmagpie raised £10m from the private equity firm LDC, and former Asda boss Allan Leighton joined as chairman.
[back]
People who want to trim down their music or film collections can trade in their CDs, DVDs or computer games for cash on Musicmagpie.co.uk. The Cheshire company’s software lets users scan the barcodes into their webcam and gives them an instant valuation of between 30p and £3. Those who only want to de-clutter can arrange for the proceeds to be sent to a charity. Sales at the company rocketed 205% a year under founders Steven Oliver and Walter Gleeson, from an annualised £1.1m in 2008 to £30.8m in 2011. This year Musicmagpie raised £10m from the private equity firm LDC, and former Asda boss Allan Leighton joined as chairman.
Copyright © 2012.
This profile reflects the company at time of publication (as identified in top left-hand corner) and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.
[back]
Company facts
musicMagpie.co.uk
Online entertainment trader
Company website
| Sales growth | 205.21% pa |
| 2011 sales | ‡£30.8m |
| 2008 sales | *£1.1m |
| 2011 staff | 350 |
| Founded | 2007 |
| Location of HQ | Macclesfield |
| If applicable: * = annualised figures ‡ = draft accounts |
|
