Betfair founded by Andrew Black, a one-time professional gambler, and former City trader Edward Wray is said to have been found 10 years ago. Before the trading had commenced the combined stake is said to have been valued at £320 million.
This online gambling Company is at present valued at at £1.4 billion on its stock market debut. Left with almost 20% of the business, the duo are said to have sold million shares in the initial public offering. These shares are believed to be between £14 million and £17 million.