207:(FRC) was initiated to determine if Blur Group was the principal or agent with regards to the outsourcing services provided. The investigation concluded in September 2015, with the FRC welcoming the actions taken by the Blur Group directors, which included making a prior year restatement to reduce reported revenues and increase loss before taxes, as well as clarify the organisation's revenue recognition accounting policy.
199:
In 2014, Blur Group's stock price fell due to concerns regarding how revenue was reported. This came to light after a profit warning was released, indicating that multiple projects valued at over $ 100,000 were delayed until the next quarter, resulting in an 80% plunge in stock prices over previous
133:
The
Maistro e-procurement platform uses a mix of AI and automation to enable anyone from an organisation to buy services quickly; from scoping, tendering and shortlisting to selecting, contracting and paying suppliers, while procurement teams benefit from ‘hands-off’ visibility and control, knowing
225:
CEO Philip Letts left the company on 1 August 2017 (having presided over a share price plunge from a 2014 high of 665p to 3p), Laurence Cook, appointed as chief commercial officer in
November 2016, became Blur Group CEO, and new chairman David Rowe slashed costs and raised £1.5 million to try to
129:
The company has a database of over 35,000 suppliers made up of providers from the UK/Europe, AsiaPac and North
America. As part of using the platform customers benefit from access to the pool of suppliers, with Maistro vetting suppliers at various levels depending on the customers preferences.
125:
Maistro is a UK-based technology company that provides a hybrid of platform and procurement category expertise to enable organisations to purchase and manage services within the area of tail spend (small value purchases outside of contracts).
191:, followed by raising a further $ 22m in May 2014. Also in 2014, it claimed the third iteration of its platform was being adopted faster than anticipated. In 2015, it claimed it had 65,000 service providers.
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On 28 June 2019, at the request of the company, Maistro PLC Ordinary Shares were cancelled from trading on AIM and the company became a private limited company, Maistro UK Ltd.
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In
October 2020, CEO Laurence Cook stepped down and strategic development director Phillip Shuldham-Legh was appointed Maistro CEO.
210:
Further financial reporting problems led to the company's shares being suspended in June 2017, and reports that Blur could go into
640:
495:"blur Group PLC – Proposed placing to raise $ 20.0 million and Open Offer to raise up to approximately $ 2.0 million"
400:
117:) is a UK-based company which provides an online platform for organisations to buy and manage services within tail spend.
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870:
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year. Blur issued four profit warnings between
January 2014 and May 2015, and had to replace three CFOs in two years.
568:"Silicon Valley veteran and blur Group CEO: 'If you're not being beaten up, you're probably not interesting'"
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477:"British invasion: U.K.-based technology company blur Group opens U.S. headquarters in Dallas"
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steady the company. The company moved its UK office to Pynes Hill in Exeter in late 2017.
211:
8:
152:
921:"Lawrence Dallaglio on innovation in procurement and the key to a post-Covid bounceback"
280:"South West can be proud of AIM-listed Blur Group, Mulberry and Sutton Harbour Holdings"
256:
187:
In 2013, Blur raised $ 11.5m in a secondary round of financing and opened an office in
379:"blur Group: The pace of growth quickens as crowdsourcing group handles 1,200th brief"
30:
262:
In
November 2020, the company announced it had achieved ISO27001 accreditation.
353:"Blur Group Raises $ 2M To Disrupt How Marketers Pick Creatives For Campaigns"
983:
188:
520:"blur Group's exchange attracting larger projects with longer life-cycles"
241:
In March 2019, the company moved its offices back to Exeter
Science Park.
871:"Exeter's blur Group rebranded as Maistro with a positive start for 2018"
820:"Exeter's blur Group rebranded as Maistro with a positive start for 2018"
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163:
619:"Findings of the FRC in respect of the accounts of blur Group plc"
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that every purchase falls within their pre-defined standards.
166:), an investment round in Q4 2011 attracted investment from
194:
173:
In 2012, the company claimed its 1,200th project, and went
452:"Blur struggles to contain its optimism as revenues surge"
401:"IPO: B2B Services Exchange Blur Group To List On LSE AIM"
162:
Under the leadership of CEO Philip Letts (formerly CEO of
845:"New name, new optimism at e-commerce specialist Maistro"
716:"Blurred vision of solace at the boss's country retreat"
664:"Blur Group Shares Suspended – Why We Aren't Surprised"
328:"No need to burn venture capital to be a tech success"
995:
222:
In July 2017, the company replaced its entire board.
99:
234:
In
January 2018, Blur Group PLC changed its name to
641:"blur group makes restatements following FRC probe"
594:"Blur Group loses third finance chief in two years"
542:"blur pulls in more consultancies to online market"
255:Former England captain and Rugby World Cup winner,
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259:was company sales director until November 2022.
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690:"Blur Group could be facing administration"
1005:Technology companies of the United Kingdom
217:
522:. proactiveinvestors.com. 22 January 2014
381:. proactiveinvestors.com. 23 October 2012
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1000:Technology companies established in 2005
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195:Financial reporting concerns (2014-2017)
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643:. AccountancyAge.com. 30 September 2015
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946:"Maistro gains ISO27001 certification"
768:"NEW CEO TAKES THE HELM AT BLUR GROUP"
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90:Cloud-based Procurement-as-a-Service
792:Burgess, Kate (20 September 2017).
13:
766:Farrell, Stephen (3 August 2017).
592:Gartside, Juliette (15 May 2015).
14:
1016:
968:
794:"Blur's outlook still no clearer"
305:"blur Group plc Admission to Aim"
896:"AIM Cancellation - Maistro Plc"
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740:Lawson, Roger (1 August 2017).
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869:Finch, Hannah (1 March 2018).
818:Finch, Hannah (1 March 2018).
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326:Hurley, James (17 July 2012).
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1:
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182:Alternative Investment Market
151:PLC in 2007 and was based in
662:Smith, Peter (3 July 2017).
203:An investigation led by the
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205:Financial Reporting Council
147:The company was founded as
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82:Phillip Shuldham-Legh (CEO)
42:; 17 years ago
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742:"Departures – AA and Blur"
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218:2017 leadership changes
184:(AIM) in October 2012.
230:Name change, delisting
849:Proactiveinvestors UK
431:London Stock Exchange
179:London Stock Exchange
572:Business Insider UK
307:. Investegate.co.uk
153:Exeter Science Park
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257:Lawrence Dallaglio
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952:. 4 November 2020
548:. 21 October 2015
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337:20 December
68:Area served
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499:N+1 Singer
461:1 December
411:3 December
405:TechCrunch
385:1 December
363:1 December
357:TechCrunch
289:1 December
266:References
149:Blur Group
115:Blur Group
113:(formerly
78:Key people
60:Exeter, UK
905:20 August
875:devonlive
824:devonlive
311:8 January
164:Beenz.com
72:Worldwide
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777:7 August
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598:Guardian
121:Services
87:Services
956:16 June
930:16 June
880:23 July
854:23 July
829:27 July
236:Maistro
177:on the
138:History
111:Maistro
100:maistro
95:Website
45: (
37:Founded
31:Private
175:public
157:Exeter
900:ADVFN
720:Times
694:Times
238:PLC.
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