{"id":43760,"date":"2015-03-25T11:52:38","date_gmt":"2015-03-25T11:52:38","guid":{"rendered":"http:\/\/staging.startups.co.uk\/young-guns\/?p=43760"},"modified":"2019-01-25T10:35:50","modified_gmt":"2019-01-25T10:35:50","slug":"young-gun-alistair-lukies-exits-monitise-share-prices-fall","status":"publish","type":"post","link":"https:\/\/staging.startups.co.uk\/young-guns\/young-gun-alistair-lukies-exits-monitise-share-prices-fall\/","title":{"rendered":"Young Gun Alastair Lukies CBE exits Monitise as share price falls"},"content":{"rendered":"<p><a href=\"https:\/\/staging.startups.co.uk\/young-guns\/alastair-lukies\/\">2007 Growing Business Young Gun Alastair Lukies<\/a>&nbsp;CBE has stepped down as chief executive officer of Monitise as it is announced that the AIM-listed mobile payments firm has taken itself off the market, which saw shares fall 17%.<\/p>\n<p>Following a third revenue warning in January, Monitise had said it was open to takeover bids, but has rejected the expressions of interest from a number of parties as the figures being discussed were not attractive enough.<\/p>\n<p>Instead of an expected 25% rise in revenues to &pound;119m in 2015, the company projected that turnover would remain flat at &pound;90-&pound;100m with losses of &pound;40-&pound;50m. This followed key partner Visa selling down its 15% stake in the company in December.<\/p>\n<p>The exit of Lukies will see Elizabeth Buse remain as sole CEO with Telefonica&rsquo;s digital service chief, Stephen Shurrock, joining as non-executive director.<\/p>\n<p>Lukies founded Monitise in 2003 as a technology platform which allows users to manage bank accounts and money transfers on a mobile device. It has grown to become one of the largest mobile money specialists in the world with partnerships with Santander as well as Visa, Mastercard&nbsp;and IBM.<\/p>\n<p>Up until very recently it was one of only five tech companies in the UK to be valued at $1bn &ndash; the &ldquo;$1bn start-up club&rdquo; &ndash; alongside Shazam, Zoopla, Wonga and Powa Technologies but its market value is now listed at &pound;322.4m ($479.6m) according to the London Stock Exchange.<\/p>\n<p>The news followed the recent announcement from Monitise of &ldquo;two major multi-year contract wins with multi-million dollar aggregate value&rdquo; and this month Santander launched the first UK ISA moblie app, which was designed and developed by Monitise Create.<\/p>\n<p>Monitise had also been in an acquisitive mood, utilising the AIM market to acquire fast-growth start-ups. In June last year, the mobile banking firm announced a &pound;55m acquisition of the holding company behind MyVoucherCodes.co.uk and Last Second Tickets, MarkCo Media, and in August Lukies announced he would be acting as non-executive chairman of Innovate Finance.<\/p>\n<p>In 2013, the business also acquired Grapple in a deal that could ultimately value the&nbsp;mobile app developer at &pound;39m.<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>2007 Growing Business Young Gun Alastair Lukies&nbsp;CBE has stepped down as chief executive officer of Monitise as it is announced that the AIM-listed mobile payments firm has taken itself off the market, which saw shares fall 17%. Following a third revenue warning in January, Monitise had said it was open to takeover bids, but has [&hellip;]<\/p>\n","protected":false},"author":63583,"featured_media":43073,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[127],"tags":[],"class_list":["post-43760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\n<title>Young Gun Alastair Lukies CBE exits Monitise as share price falls - Young Guns by Startups.co.uk: Start up a successful business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.startups.co.uk\/young-guns\/young-gun-alistair-lukies-exits-monitise-share-prices-fall\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Young Gun Alastair Lukies CBE exits Monitise as share price falls - Young Guns by Startups.co.uk: Start up a successful business\" \/>\n<meta property=\"og:description\" content=\"2007 Growing Business Young Gun Alastair Lukies&nbsp;CBE has stepped down as chief executive officer of Monitise as it is announced that the AIM-listed mobile payments firm has taken itself off the market, which saw shares fall 17%. 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