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Euan Blair’s training company Multiverse is hit by losses for the sixth year in a row
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Euan Blair’s training company has suffered a loss for the sixth consecutive year.
Founded by the former Prime Minister’s son in 2016, Multiverse saw losses rise from £10.9m to £14.2m last year.
But it continued to grow, posting £27.3m in revenue, up from £10m in the previous 12 months.
Matchmaker: Multiverse – founded by Euan Blair (pictured) in 2016 – saw losses rise from £10.9m to £14.2m last year
Over the summer, Multiverse gained coveted tech ‘unicorn’ status when it was valued at £1.4bn in fundraising driven by US venture capital firms.
That means it’s worth an astonishing 50 times its turnover, and it valued the 38-year-old Blair’s stake at around £420 million, far more than his father Tony’s fortune of £60 million.
Multiverse links school leavers to employers such as Google, Facebook, Morgan Stanley and Depop.
It makes its money by charging customers a fee once an apprentice is successfully placed. The company says it offers ‘a real, credible alternative that can compete with the university’.