World Business News

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Europe creates 30 $1bn-plus tech firms since 2003

Zone(s): Europe ¦ Sector(s): Finance
[16 June 2014, The Guardian]  By Juliette Garside: Europe has produced 30 technology companies worth more than $1bn (£590m) since the millennium, according to research that explodes the myth that the region’s internet entrepreneurs lack vision and sell up too early.

Clothing retailer Asos, games studio King Digital, property portal Zoopla and music service Spotify are among the select group of Europe’s most valuable technology companies, most of which remain independent.

The research, conducted by boutique investment bank GP Bullhound, shows Europe compares well to the US, which produced 39 billion-dollar companies between 2003 and 2013.

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