PhotoBox snaps up Moonpig.com

The founder of the personalised greeting cards firm Moonpig.com is set for a multimillion-pound windfall after the company was sold for £120m to the online photo service PhotoBox.

The deal will see Moonpig's chairman, Nick Jenkins, a former commodities trader at Glencore, cash in part of his 35 per cent stake in the company he set up in 2000. Mr Jenkins, who will reinvest in the new business and continue as an adviser to the merged company's board of directors, named the company after his nickname at school. PA