Euan Blair’s apprenticeship company has racked up a sixth successive year of losses.
Multiverse, set up by the son of the former prime minister in 2016, saw losses widen from £10.9million to £14.2million last year.
But it continued to grow, posting revenues of £27.3million, up from £10million in the previous 12 months.
Matchmaker: Multiverse – which was set up by Euan Blair (pictured) in 2016 – saw losses widen from £10.9m to £14.2m last year
In the summer Multiverse was awarded much coveted tech ‘unicorn’ status when it was valued at £1.4billion in fundraising driven by US venture capital firms.
That means it is valued at an astonishing 50 times more than its sales, and it valued 38-year-old Blair’s stake at about £420million, far more than his father Tony’s reported £60million fortune.
Multiverse matches school leavers with employers who include Google, Facebook, Morgan Stanley and Depop.
It makes its money by charging clients a fee once an apprentice is successfully placed. The business says that it offers ‘a genuine, credible alternative that can compete with university’.
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