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Corporation
MEDIA (TRADITIONAL) | Publishing
dmgt.com

Investments

11

Portfolio Exits

8

Partners & Customers

1

About Daily Mail and General Trust

Daily Mail and General Trust is one of the Europe's largest media companies, with interests in national and regional newspapers, television, and radio. Although based in the UK, the company has extensive international interests, through Northcliffe Media, DMG Radio Australia, DMG World Media, and DMG Information. Its biggest markets apart from the UK are in the United States, eastern Europe, and Australia.

Headquarters Location

Northcliffe House 2 Derry Street

London, England, W8 5TT,

United Kingdom

+44 (0)20 7938 6000

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Latest Daily Mail and General Trust News

Legal tech firm Farewill sees value written down more than £50 million by shareholder Daily Mail

Feb 13, 2024

Legal tech firm Farewill has seen its valuation slashed by more than £50 million by one of its major shareholders, the Standard has learnt, amid growing signs European tech firms are struggling to hold on to the heady valuations they attracted during the height of the pandemic. Media company Daily Mail and General Trust (DMGT) cut its estimate of the value of its 4.3% stake in Farewill by two-thirds, accounts filed with Companies House today show, implying a valuation drop from £86 million to £30 million. DGMT first invested in Farewill, which provides online will writing services, back in 2018, and has struck deals with Farewill to place advertising features on the Daily Mail website. Other investors include co-founder of Zoopla Alex Chesterman and Wise co-founder Taavet Hinrikus . Farewill CEO Dan Garrett told the Standard: “Farewill is on course to generate record levels of revenue and growth this financial year. The market opportunity remains as strong as ever and we are the best placed player to disrupt the £5bn end-of-life market.” It comes as research found valuations of European tech firms continued to decline in 2023 as start-ups battled for survival amid weaker consumer sentiment, scant venture capital investment and slower growth. The median venture growth deal value declined 17.4% in the three months to end September compared to the same period 2022, according to data from PitchBook, while median valuations slumped by 26.1%. The proportion of ‘down rounds’, in which a firm accepts investment on worse terms than in previous funding rounds, increased to 21.3% from 14.8%. Since the start of 2023, scores of tech firms from food delivery business Gousto to fintech giant Revolut have seen their valuations cut by investors. PitchBook said the downturn reflected a change of investor sentiment in which “valuations, particularly at mature financing stages, are facing renewed scrutiny.”The Daily Mail owner also cut the value of its stake in fledgling magazine Air Mail by nearly 50%, as well as another of its tech investments, London fintech business Plum, implying a £65 million fall in value to £30 million. But Plum said it had since raised fresh funds that implied a higher figure. A spokesperson said: “Plum recently entered into a strategic partnership with leading Greek financial institution, Eurobank, that included a minority equity investment of €10m, the first tranche of €5m having happened in November 2023. This valued Plum at £107m, in line with our Series A when DMGT invested.” A DMGT spokesperson said: “For all of its minority investments, DMGT has consistently applied a prudent set of assumptions when assessing the carrying value of each of these investments, this is particularly prevalent during periods of economic uncertainty. Read More

Daily Mail and General Trust Investments

11 Investments

Daily Mail and General Trust has made 11 investments. Their latest investment was in Cudoni as part of their Series C on January 23, 2023.

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Daily Mail and General Trust Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/23/2023

Series C

Cudoni

$9.25M

No

2

6/25/2019

Series A

Cudoni

$1.78M

Yes

1

12/18/2017

Series C

Skymet Weather Services

$8M

Yes

1

9/5/2017

Series C

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$99M

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10

5/16/2017

Series B

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$99M

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10

Date

1/23/2023

6/25/2019

12/18/2017

9/5/2017

5/16/2017

Round

Series C

Series A

Series C

Series C

Series B

Company

Cudoni

Cudoni

Skymet Weather Services

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Amount

$9.25M

$1.78M

$8M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

2

1

1

10

10

Daily Mail and General Trust Portfolio Exits

8 Portfolio Exits

Daily Mail and General Trust has 8 portfolio exits. Their latest portfolio exit was Cudoni on August 10, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/10/2023

Asset Sale

$99M

1

8/2/2021

Acquired

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$99M

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10

8/26/2019

Acquired - II

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$99M

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10

4/17/2017

Acquired - II

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$99M

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10

12/21/2012

Acquired

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$99M

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10

Date

8/10/2023

8/2/2021

8/26/2019

4/17/2017

12/21/2012

Exit

Asset Sale

Acquired

Acquired - II

Acquired - II

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

Daily Mail and General Trust Acquisitions

14 Acquisitions

Daily Mail and General Trust acquired 14 companies. Their latest acquisition was New Scientist on March 03, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/3/2021

$99M

Acquired

5

12/4/2019

$99M

Acquired

1

2/19/2019

$99M

Acquired

1

8/4/2015

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$99M

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10

1/30/2015

Convertible Note

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$99M

$99M

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10

Date

3/3/2021

12/4/2019

2/19/2019

8/4/2015

1/30/2015

Investment Stage

Convertible Note

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acquired

Acquired

Acquired

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Sources

5

1

1

10

10

Daily Mail and General Trust Partners & Customers

1 Partners and customers

Daily Mail and General Trust has 1 strategic partners and customers. Daily Mail and General Trust recently partnered with Orbis on May 5, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

5/17/2019

Partner

United States

DMGT partners with Orbis to support its mission

DMGT has recently launched a partnership with Orbis , a charity specialising in the long-term commitment to ending avoidable blindness across the world .

1

Date

5/17/2019

Type

Partner

Business Partner

Country

United States

News Snippet

DMGT partners with Orbis to support its mission

DMGT has recently launched a partnership with Orbis , a charity specialising in the long-term commitment to ending avoidable blindness across the world .

Sources

1

Daily Mail and General Trust Team

8 Team Members

Daily Mail and General Trust has 8 team members, including current Chief Executive Officer, Tim G. Collier.

Name

Work History

Title

Status

Tim G. Collier

Chief Executive Officer

Current

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Name

Tim G. Collier

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Work History

Title

Chief Executive Officer

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Status

Current

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