MUSICMAGPIE.CO.UK WINS PRESTIGIOUS E-COMMERCE ENTREPRENEUR OF THE YEAR 2011 AT ERNST AND YOUNG AWARDS

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Founded in 2007 by Oliver and Gleeson, Cheshire based company musicMagpie.co.uk offers consumers a free and easy way to raise cash from their unwanted entertainment products. Using musicMagpie’s proprietary “valuation engine” customers get an instant quote for their CDs, DVDs and Games.

With years of experience in traditional entertainment retail, Oliver and Gleeson’s insight into the entertainment market enabled them to construct, both a model and a technical engine, from which they built a business that is today shaping and growing the pre-played media market both domestically in a UK market, worth an estimated £1billion as well as internationally. musicMagpie.co.uk has grown to become the largest operator of its kind in Europe, employing more than 500 people and serving over 4 million customers in over 100 countries worldwide.

The company has also launched two iPhone applications, the first of which has been downloaded over 110,000 times by UK Apple users and regularly appears in the top 100 Free App charts on iTunes UK.

Steve Oliver and Walter Gleeson, founders of musicMagpie.co.uk said: “We are thrilled to have won this award and be recognised for our achievements to date. We look forward to expanding the business further in the global marketplace.”

Richard Harding, Transaction Services Partner at Ernst & Young who worked with musicMagpie.co.uk on it's recent transaction with LDC said: "I'm delighted that musicMagpie.co.uk has been recognised by the judging panel as our e-commerce winner in the North and Midlands Entrepreneur of the Year Awards event.  musicMagpie.co.uk holds a truly unique niche market position and has enjoyed very significant growth in recent years as a result of focused marketing, bespoke IT systems and a hugely motivated and enthusiastic management team."

The awards event sponsored by Credit Suisse, was held at The Lowry Hotel, Manchester, and hosted by BBC Radio 2 presenter, Jeremy Vine.