Andrew Black is the co-founder of Betfair, a company that offers a global portfolio of gambling products and services, including the world's leading betting exchange which is a concept pioneered by Black. The company was founded in 1999 and has grown to generate a turnover in excess of £50 million a week with over 2 million clients.
In this video interview, the successful entrepreneur talks about his experience in the working world, and how a series of careers allowed him to develop an unusual collection of knowledge and skills. After stints of working at the London and New York stock exchange and as a professional gambler, Black had his eureka moment when he realised he could change the stock market model for placing bets. He speaks about the desperate want of a business partner and the struggle to get funding for his business idea.
He gives expert advice on mergers, as he refers to Betfair's merge with Flutter, the "eBay of betting" and the difference between differentiating by brand and by product. He also speaks of the issues that arose in hiring an unsuitable CEO who lacked passion for the business and how global domination is on the agenda for Betfair.
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