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Former Photon boss Matt Bailey returns to the market

Matt Bailey, the man who ran Photon Group until shortly before it imploded, has revealed his next ventures.

His investment company is called The Bailey Boys and retail marketing firm is Brand Influence Group.  

Bailey left Photon a year ago, saying that he was finding the commute from Melbourne to Sydney too demanding.

As the Sydney Morning Herald later reported, the Bailey family was lucky enough to sell many of its shares in Photon at that stage, while they were priced at $1.30.

Soon afterwards it emerged that the company’s aggressive acquisition drive – which saw it grow to around 50 agencies including BWM, BMF and Naked Communications – had left it struggling to pay the earnouts it owed.

The company later had to raise more cash which saw the share price drop to 10c. It has since dropped to around 4c, valuing the company at about $60m.

In an interview with today’s Australian Financial Review, Bailey said: “I don’t weant to build another Photon. I’m only interested in taking minority stakes in companies that I can heklp grow and develop. There aren’t going to be any full acquisitions and no earn-out deals.”

According to the article, despite the company name, The Bailey Boys is only owned by Matt Bailey only. Stewart Bailey remains bound by a non compete with Photon Group.

Brand Influence Group will focus on in store marketing.

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