Gold chairs Wowgo start-up as Unilever invests pounds 6m in site

Unilever is to invest pounds 6 million in Wowgo.com, an internet start-up chaired by Michael Gold, the co-founder of Gold Greenlees Trott.

Unilever is to invest pounds 6 million in Wowgo.com, an internet

start-up chaired by Michael Gold, the co-founder of Gold Greenlees

Trott.



The decision to invest in Wowgo, which is developing a web portal aimed

at teenage girls, represents Unilever’s first move into dotcom

start-ups.



The news follows a similar move by Unilever rival, Procter & Gamble,

which signed an agreement with the search engine, Excite UK, to develop

a website for teenagers.



Wowgo.com will launch in April with a lifestyle branded site, which will

include features content, chat and interactivity.



After the UK launch, the site will roll out across Europe. Wowgo intends

to move into other areas, including television, mobile phone and

possible financial services deals.



The deal will enable Unilever to find out about how teenage girls view

brands and products. Keith Weed, chairman of the Unilever unit, Elida

Faberge, said: ’Our participation with Wowgo will enable us to extend

our reach more effectively. We live or die through our closeness to our

consumers.’



Wowgo’s chief executive is David Peller, an entrepreneur, who was part

of the launch team for the Japanese noodle bar, Wagamama.



Gold said: ’With teenage daughters of my own, I know about the

challenges faced by teenage girls.



’Wowgo has been created to provide the information and peer support

needed by teenage girls during the transition from girlhood to

womanhood.’



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