“Nutmeg backers set for big windfall from £700m JPM Chase deal”

Jun 24, 2021 | Companies

Remember the .com boom, when anything vaguely techie, and many things which appeared to be but didn’t actually exist, were sold for zillions. It ended in tears for many, and champagne for many others. Anyway, I think it’s back, 20 years on. A multi-national, paying £700m for a company which has made a loss every year since it was set up 9 years ago? I assume, as they no doubt employ lots of clever people with MBAs, that they’ll have a business plan of some kind, with spreadsheets and PowerPoints and so on. Won’t they?

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“Nutmeg losses climb 28% after JPMorgan takeover”

“Nutmeg losses climb 28% after JPMorgan takeover”

If you’re offering cheap, online investment advice, you need volume to make it profitable. To get volume (ie lots of money), you need marketing (to get lots of people to log in and give you money). And that costs, particularly, as will inevitably be the case, most of...