Lost Wax develops software for online auctions and has sold its products to customers such as Egg, Orange, Sony, General Motors Online Finance and the Baltic Exchange. Sales have grown 136% a year from £863,000 in 1999 to £4.8m in 2001. In September last year the London company raised £3m in funding from Prudential, Ideo, a Silicon Valley firm, and its existing private investors.
Tom Ilube left the investment bank Goldman Sachs to found Lost Wax in 1996.
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