Ex-Beenz founder Philips Letts' latest venture, online marketing services exchange, Blur Group, listed on AIM on Friday at a kick-off price of 82p (see Blur to come into focus on AIM) and ended the day pretty much where it started.
I had a nice little chat with Letts last week. To say he is brimming with confidence about Blur's prospects rather understates his frame of mind. He told me he had always planned for Blur to go from ‘Angel’ funding direct to IPO without passing through VC’s hands and so has he done, lining up ten institutional investors (and more dosh from existing Angels) to get the IPO afloat. Letts still holds 60% of the stock.
Now we wait for the ‘newsflow’.