Social media investor Jellybook loses £1m
Social media investment firm Jellybook has failed to capitalise on a boom in the sector after posting a loss of more than £1m in its first four months of trading.
Jellybook founder Jonathan Rowland attributed the losses to costs incurred from its association in March and June AIM listing, alongside the “difficult and volatile investment climate”.
The fund was established with the intent of investing in a European social network, but failed to find a suitable investment target.
Not giving up hope yet however Rowland is continuing to “evaluate potential investments”.
Jellybook raised £11m in capital following its stock market flotation and had been seen as a good bet as an expanding tech bubble has swept up the likes of Facebook and Groupon.
With those players now delaying their multi-billion dollar IPO’s may indicate that market sentiment has now turned.