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Company Background
Pure Entertainment was founded in 1996 as a computer and video games developer. It received
equity backing from Eidos (who gained a 26% stake in the company) and won its first publishing deal from them as well. Since then the Company has worked with a number of international games publishers including GT
Interactive, Mattel and Sony. Pure floated in November 1999, raising approximately £9.9m (net) to oversee the Company's move into online games publishing via its freeloader.com venture. The basic business model for
freeloader.com was the provision of free, downloadable games which it would cover with advertising revenue. At its height the Company employed 70 people with headquarters in London.
The Company announced that it
is closing in March 2001 and sold it core business activity, Freeloader.com, in May to AIM-listed Cube8.com plc. The Company remains as a cash shell.
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