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Programmatic Pioneers Make A Fortune From Exchange Lab Sale To Group M

The founders of The Exchange Lab are set to make multimillion-pound fortunes after selling their programmatic marketing company to WPP's Group M. Tim Webster, 38, owned 35% and Aitken Investments, which is thought to be controlled by fellow co-founder James Aitken, had about 31% of The Exchange Lab. The sale price was undisclosed but revenues last year doubled to GBP21.4 million, according to Companies House. Typically, such a company is valued at one or two times annual revenues.

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