Richard Londesborough and Jonathan Feroze launched Latin America Monitor just two years after graduating, having met as journalists in Mexico City. They turned Latin America Monitor from a kitchen-table start-up into a leading information service within seven years (1984 -1991). They then scaled and diversified the business, renamed as Business Monitor International, to cover global emerging markets, gaining 16,000 corporate customers across 145 country markets (1991-2000).
The company won the Queens Award for Exports in 1997, with a staff of just 25, one of the smallest companies then to have received such recognition.
Jonathan and Richard responded to the dotcom boom and bust at the turn of the century by radically re-engineering BMI’s business model, transitioning from a marketing-driven print publisher, to high-ticket, online information provider powered by a global direct sales force; expanded from a single London HQ to offices in New York, Singapore, South Africa, Hong Kong and Dubai, with staff growing from 60 to 300.
In 2009, they secured substantial private equity backing from Spectrum Equity Investors in Boston, and succeeded in tripling the value of BMI over the next five years, culminating in the sale of BMI to Fitch Group in 2014.
The founding angel investor achieved a multiple of 250 x on his original investment.