Moguldom: Moguldom tapping into UK interest in the tech sector with £50mln float

Moguldom, a US digital media group that owns nine entertainment websites, is riding the wave of interest in the tech sector here in the UK with a £50mln AIM float.The group, which has developed a strong franchise with Afro-American and Hispanic audiences with brands such as Bossip and MadameNoire, is looking to raise £8mln in new funds.Chief executive Jamarlin Martin said: "The market we address is growing exponentially, and we are well positioned to capitalise on this and our current success. "Through our nine growing brand sites and engaging content, we access underserved demographics and a vast number of America's population, an audience of large advertisers are keen to connect with."Its clients include Coca Cola, McDonalds, Toyota and Home Depot.The cash Moguldom raises will be used to develop the core offering, as well as grow Moguldom's newer sites and "advance its long-form video content". Its portfolio generated over 300mln page impressions in December.Last year the company's revenues were £13.2mln (US$20.1mln), up 31%, and pretax profits were£860,000 (US$1.3mln).