A Manchester grad who has struck gold after selling a majority stake in his digital media company to a private equity giant has posted an emotional message on LinkedIn after the deal was announced.
Jamie Bolding founded Jungle Creations, then called Viral Thread, in 2014 from his mum's house after he graduated from the University of Manchester in 2013 with a degree in business management.
The company, which now has bases in London and New York, creates, produces and distributes content across seven media brands focused on the likes of food and drink, arts and crafts and female lifestyle.
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Its content is mainly distributed through Facebook, Snapchat, TikTok, Instagram and YouTube while its branded content arm Jungle Studios produces campaigns for the likes of Bailey’s, GSK, Mondelēz and Waze.
Mr Bolding served as its chief executive from 2014 to February 2021 when he handed over to Melissa Chapman and Nat Poulter.
London-headquartered Livingbridge's investment portfolio also includes the likes of Chester-based Sykes Holiday Cottages.
In 2020 Jungle Creations generated a revenue of £19.3m and an EBITDA of £2.5m and is on track to hit a revenue of £30m and profits of £5.5m, the highest in its history, this year.
Livingbridge’s investment will support the business in fuelling its growth strategy, including the launch of new brands, increased content output for existing brands and internationalisation.
Mr Bolding and Edge Investments – which invested in Jungle in 2018 to support its growth – will retain minority stakes in the business.
Writing on LinkedIn, Mr Bolding said: "A truly incredible moment. Just over seven years ago today, Jungle Creations was created.
"After an absolute whirlwind adventure, I'm thrilled to announce that we have now sold a majority stake to private equity firm, Livingbridge.
"This is a monumental deal for the business which was started with a £10k government loan when I was 23.
"There are so so many people that have contributed to this journey both inside the business and out, so it's tough to know where to start.
"Currently, we have 150 phenomenal employees that make up a group of kind, ambitious and creative geniuses who have taken Jungle to such incredible heights with the work they produce. I'm so happy they are all being recognised in a meaningful way through our EMI scheme.
"This would never have happened without the insane efforts of three people. Mel Chapman, Nat Poulter and James Evans.
"This process has lasted almost 12 months. As the co-CEOs and COFO of the business they were the ones running every meeting, replying to every question, sifting through all the data etc, all while achieving record results for the business in 2021, simply outrageous.
"You are the most incredible people I have ever worked with and I'm forever indebted to the three of you, thank you.
"There have been countless other people who have helped make this happen and I want to give a huge thank you to the teams at Deloitte, Wiggin and Haysmacintyre for all their relentless work and Edge for investing in us in 2018.
"This marks an incredible new chapter for Jungle. With 2021 set to achieve £30m in revenue and £5.5m in EBITDA, Jungle is poised to become an absolute powerhouse in the digital media and marketing space.
"For me, the journey continues albeit not as an employee. I will be keeping a minority investment as I do all I can from the sidelines to help Jungle realise its insane potential for the future.
"Founding and leading this business over the last seven years has been the honour of my life. I put everything into it and am so thankful to everyone who has helped make it the journey of an absolute lifetime.
"I'm looking forward to taking some time off, reconnecting with everyone and investing in different industries. I've got some exciting stuff in the pipeline but want to ensure I take the time to enjoy this moment."
Vernan Richards, associate director at Livingbridge, said: "Jungle has demonstrated a consistent ability to create content that resonates with a large audience globally across multiple social platforms and verticals.
"In the current landscape, access to these audiences has become a valuable commodity for brands as they seek to target Gen Z and Millennial audiences.
"Jungle is ideally positioned to take advantage of positive market tailwinds, and we look forward to working with Nat Poulter and Melissa Chapman to cement its role as a scalable and market leading business."
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The investment was made through Livingbridge’s Enterprise 3 fund.
Livingbridge was advised by FRP Corporate Finance and JEGI CLARITY.
Jungle Creations was advised by the Deloitte Corporate Finance TMT team.
