BlackStar looks to future

Video e-tailer BlackStar has the confidence of its financial backers to play a long-term strategy before entering the stock market, one of its founders said yesterday.

Darryl Collins was speaking after the company secured £6.5 million of second round funding.

“We’ve secured £1 million each from financial investors and the rest was raised from a private placement in Dublin,” Said Mr Collins.

He said the market conditions for the company to float were “unlikely to return until the end of the year, through to 2001”.

The company had indicated it might float on the market this year or earlier in 2001, but Mr Collins said the focus for the company in the short term was in building on “our strong position to keep growing the business.”

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