Dan Wagner, the former boss of electronic information provider MAID/Dialog, is chairman and biggest shareholder of proposed new Aim flotation Attraqt.
The cloud-based SaaS provider is expected to be valued at £10m, which is more realistic than some of the valuations for cloud-based businesses in the past. The business was founded in 2003 and its ATTRAQT Freestyle Merchandising software enables retailers to easily change what is most prominently displayed on their website. A dashboard with sliders can be used to fine tune what goes on the main page of the website. This means that if somebody famous is seen wearing a particular item of clothing then similar items can go on the front page of the website. The technology also encompasses search and recommendations software. Customers include Tesco, Superdry, Laura Ashley, Screwfix and BT.
Revenues grew 26% to £1.58m in the most recent financial year. It is unlikely that the business made a profit.
Wagner currently owns 28.1% of Attraqt (www.attraqt.com), while his company Bright Station Ventures owns a further 16% and his father another 8%. Founder and chief executive Andre Brown owns 18.5%.
One of Attraqts partners is Aim-quoted email and digital marketing business dotDigital.
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