Lastminute founder quits
20 November 2003
Martha Lane Fox, the embodiment of the dot.com boom and chastened icon of its bust, has stepped down as managing director of Lastminute.com, the company she set up with partner Brent Hoberman.
She had indicated many times that she would take a less prominent role once the company recorded a full year's profits.
The past financial year's revenue of £200,000 marked Lastminute's first such year, up from the previous year's £16.2 million losses.
Even so, the company's share price fell by 17 per cent when news of the 30-year-old's resignation broke, an indication of the much-vaunted 'Martha effect'.
The company achieved fame when it pulled in £113.5 million on its flotation day, representing a value of £732 million.
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