Product details

This is the first of a three-case series. In June 1999, two young entrepreneurs - Robert Norton and Toby Rowland - were considering launching an Internet e-health service to consumers. The rapid growth in consumer healthcare products and the huge interest and funding focused on the Internet encouraged them to conclude that the opportunity was considerable. Within two months, they were sitting down with venture capitalists looking to raise GBP5m to fund a venture that was barely in design phase. Much to their surprise, on 22 September 1999, just one month after commencing their fundraising effort, they were the happy recipients of GBP3m from one of the UK's leading venture capital firms and one of the UK's leading private investors. By the following April, with the business now well underway, Norton and Rowland were ready to raise a second round of capital to further develop the business. With the recent demise of some dot-com companies, and growing disenchantment with dot-com businesses among VCs, however, the two entrepreneurs wondered how well their need for an additional GBP10m would be received. Would their current VCs reinvest? In an hour - after meeting with their lead investor - they would have a good idea of what was ahead.