Return of DevilFish Poker

Crowdfunding-based platform Funding Tree is conducting fund raising in order to relaunch DevilFish Poker, scheduled for a return in March this year. DevilFish Poker, fronted by Dave 'DevilFish' Ulliott, British professional poker player, was a powerhouse in its day, with revenues as high as GBP 783 355 and gross profit of GBP 525 115 in 2010. The Weather Lottery had bought the company for GBP 40,000 in cash and GBP 290,000 in shares in December 2010 and unfortunately remained inactive post-sale. It was later purchased by Jeff Williams, at the time the Group's managing director of Online Gambling subsidiaries, and an experienced seed investor, for a trifling sum of GBP 1. Williams has since then invested GBP 100 000 back into the brand, saying that his goal is to once again establish DevilFish Poker as “a leading UK online poker room”. The newly-relaunched site, once again to be backed by Dave 'Devilfish' Ulliott, is expected to launch with a massive database of up to 10 000 registered players. The poker site will be hosted on the NYX Poker network (formerly Ongame). Williams also signed a cooperative project between DevilFish and Grassroots Poker, a provider for public house poker tournaments based in the Greater Manchester area. He expects Grasroots will help attract players to the relaunched site. AS the site's majority shareholder, Williams is seeking to raise GBP 100 000 in working capital for a 10% equity in the company, which would effectively place the value of DevilFish Poker at GBP 1 million. The firm is employing the services of Angus McGlynn for SEO and design, Andrew Power as director of operations and Dave Hulme, who is in charge of the Grassroots Poker operations, as acting consultant. To close, Williams stated that Devilfish was a hidden gem, which he aims to return to life and claim its place as a leading brand within the industry. Furthermore, he expects the re-launch to result in exponential capital growth for the other shareholders.