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BOO.COM?S LOSING INVESTORS IDENTIFIED

Prominent among the investors most hardest hit is Omnia, an investment fund backed by members of Lebanon?s wealthy Hairi family. Omnia is understood to be the venture?s biggest backer with a $40m investment.

J.P Morgan, which led Boo.com?s fund raising in return for an equity stake, also brought in a number of investors. These included Sedco, thought to be backed by the Bin Mahfouth banking family in Saudi Arabia, which invested $10m.

The Financial Times? Lex Column concluded that the solution for e-tailers like Boo.com who run out of cash is ? to be snapped up by old economy retailers, so that youthful exuberance can be overlaid by retailing competency.?