Dan Wagner

Wagner was born in Edgware, Middlesex on 28 July 1963.{{cite web|author=Andrew Davidson |url=http://www.managementtoday.co.uk/andrew-davidson-interview-dan-wagner-youthful-founder-maid-proprietor-bright-station-may-proven-techno-prophet-slammed-press-flash-self-promoter/article/408089 |title=The Andrew Davidson interview: Dan Wagner |publisher=Management Today |date=2001-04-01 |access-date=2017-01-16}} He was educated at Merchant Taylors' School, Northwood but expelled when he was 13, before attending several schools, ending up at University College School, London.{{cite web|last=Gale |first=Adam |url=http://www.managementtoday.co.uk/i-went-five-schools-two-half-years-dan-wagner-powa-technologies/article/1359923 |title=How did Powa's Dan Wagner do in his exams? |publisher=Management Today |date=2015-08-13 |access-date=2017-01-16}}

Wagner dropped out of school when he was sixteen years old to work as a shop assistant for entrepreneur Julian Richer at Richer Sounds. Afterwards he joined an advertising agency as an account executive. There he came up with the idea of creating databases of records about businesses as a resource for marketing professionals.{{cite news|url=http://www.ft.com/cms/s/0/8777fd1e-1915-11e2-af4e-00144feabdc0.html#axzz35JsfdYgS|title=Dan Wagner – Lone Ranger with a Mass Target|first=Andrew|last=Bounds|newspaper=Financial Times|access-date=28 June 2014|date=24 October 2012}}

After Wagner left his job at the advertising agency, he founded the online information company MAID (Market Analysis Information Database) in 1984. The company grew quickly{{cite news|title=He floated his first company for £120m, aged 31. Now Powa CEO Dan Wagner says the UK doesn't get tech|date=14 October 2013|first=Shruti|last=Tripathi|url=http://www.londonlovesbusiness.com/entrepreneurs/famous-entrepreneurs/he-floated-his-first-company-for-120m-aged-31-now-powa-ceo-dan-wagner-says-the-uk-doesnt-get-tech/6526.article|access-date=28 June 2014|archive-date=4 April 2016|archive-url=https://web.archive.org/web/20160404042438/http://www.londonlovesbusiness.com/entrepreneurs/famous-entrepreneurs/he-floated-his-first-company-for-120m-aged-31-now-powa-ceo-dan-wagner-says-the-uk-doesnt-get-tech/6526.article|url-status=dead}} and obtained a 26 percent market-share. According to The Observer he was "one of the first people to realise the benefits of packaging electronic information and data for scientists, librarians and other specialists." The company went public on the stock market in 1994 and was renamed to Dialog. It was also listed on NASDAQ in 1995.{{cite news|url=https://www.independent.co.uk/news/business/maid-seeks-50m-on-nasdaq-1602505.html|title=MAID seeks £50m on NASDAQ|newspaper=The Independent|date=11 August 1995|first=Mathew|last=Horsman|access-date=28 June 2014}} Wagner became known for becoming a CEO of a public company in his 20s{{cite web|title=He floated his first company for £120m, aged 31. Now Powa CEO Dan Wagner says the UK doesn't get tech|url=http://www.londonlovesbusiness.com/entrepreneurs/famous-entrepreneurs/he-floated-his-first-company-for-120m-aged-31-now-powa-ceo-dan-wagner-says-the-uk-doesnt-get-tech/6526.article|access-date=21 March 2016|archive-date=4 April 2016|archive-url=https://web.archive.org/web/20160404042438/http://www.londonlovesbusiness.com/entrepreneurs/famous-entrepreneurs/he-floated-his-first-company-for-120m-aged-31-now-powa-ceo-dan-wagner-says-the-uk-doesnt-get-tech/6526.article|url-status=dead}} and for presiding over the company's share price decline in the dot-com crash in 2000. Subsequently, it was nicknamed by the city and a number of publications as 'Dial-a-dog'.{{cite news|url=https://www.theguardian.com/business/2011/dec/18/dan-wagner-venda-internet-business|newspaper=The Guardian|title=Dan Wagner: from dotcom Dial-a-dog to Venda vendor|first=Simon|last=Goodley|date=17 December 2011|access-date=28 June 2014}}

In 1997, Wagner agreed a deal to license search technology (InfoSort) to Fujitsu of Japan{{cite web|title=Dialog signs multi million deal with Fujitsu|url=http://www.cbronline.com/news/dialog_signs_multi_million_deal_with_fujitsu}} which was hailed by Prime Minister Tony Blair.{{cite web|url=http://www.internetnews.com/bus-news/article.php/134331|title=Blair Hails New Dialog/Fujitsu Alliance – InternetNews.|website=internetnews.com|access-date=26 January 2018}}

At a photo shoot ahead of the MAID IPO Wagner wore a Donald Duck waistcoat and this "flamboyant" attire was blamed for reducing the value of the company's shares by 10 p. In 1997 the share price of Dialog dropped 95 percent.{{cite news|url=http://www.managementtoday.co.uk/features/1214475/dan-wagner-maybe-im-not-best-person-run-public-company/|title=Dan Wagner: 'Maybe I'm not the best person to run a public company.'|date=2 October 2013|newspaper=Management Today|first=Gabriella|last=Griffith}}

In April 2001, Wagner founded Venda as one of the first cloud based, enterprise class commerce platforms using the technology assets from Boo.com as the foundation for the offering.{{cite web|url=https://www.nytimes.com/2000/06/02/business/international-business-fashionmallcom-swoops-in-for-the-boocom-fire-sale.html|title=INTERNATIONAL BUSINESS; Fashionmall.com Swoops in for the Boo.com Fire Sale|first=Andrew Ross|last=Sorkin|date=2 June 2000|work=The New York Times}}{{cite news|title=Boo.com spent fast and died young but its legacy shaped internet retailing|date=16 May 2005|first=Richard|last= Wray|url=https://www.theguardian.com/technology/2005/may/16/media.business|access-date=16 May 2005}} He bought the Boo.com assets for just £250,000 after they had invested over £70 million in the platform and operations.{{cite news|title=Bright Station to Buy Assets From Failed Retailer Boo.com|date=30 May 2000|url=https://www.wsj.com/articles/SB959690790810301224}}

In 2003, Wagner co-founded Attraqt – an e-commerce software company – with CEO Andre Brown.{{cite news |last1=Duke |first1=Simon |date=13 July 2014 |title=Dotcom veteran returns with shopping software listing |work=The Times |url=https://www.thetimes.com/business-money/companies/article/dotcom-veteran-returns-with-shopping-software-listing-khhrjz3bsdd |access-date=29 September 2022}} Wagner served as the company's chairman until June 2016.{{cite news |last1=Shubber |first1=Kadhim |date=16 June 2016 |title=After all that Powa, another departure for Dan Wagner |work=Financial Times|url=https://www.ft.com/content/a2cfc443-1435-3d75-8907-dab36bc74eeb |access-date=23 March 2022}} He took Attraqt public on AIM in August 2014.{{cite news |last1=Griffith |first1=Gabriella |date=14 August 2014 |title=Wagner gets his ducks in a row with latest IPO |publisher=City A.M. |url=https://www.cityam.com/wagner-gets-his-ducks-row-latest-ipo/ |access-date=29 March 2022}} and left as chairman in 2016.{{r|FTShubber}}

In February 2016, the Financial Times reported that the company had missed payments to staff and third parties,{{cite web|url=http://www.ft.com/cms/s/0/a8466886-d489-11e5-829b-8564e7528e54.html|title=Powa Technologies missed staff and contractor payments|website=Financial Times|access-date=26 January 2018}} two years after raising substantial sums in investment. On 19 February 2016, Powa Technologies went into administration.

After the collapse of Powa Technologies, a series of articles by The Financial Times and the BBC called into question several claims that had been made by Wagner during his tenure as CEO. Powa's self-proclaimed 2014 valuation of $2.6 billion was investigated and FT Alphaville concluded that £75 million was a more accurate figure.{{cite web|url=http://ftalphaville.ft.com/2016/03/04/2155301/so-how-much-was-powa-technologies-really-worth?|title=So how much was Powa Technologies really worth?|website=ftalphaville.ft.com|access-date=2016-03-17}} Most of the partners that Wagner claimed had signed deals with Powa were found to have instead signed non binding Letters of Intent that did not carry any obligations.{{cite web|author=Finance |url=https://www.businessinsider.com/powa-technologies-most-1200-powatag-deals-were-letters-of-intent-2016-2 |title=Powa Technologies: Most 1,200 PowaTag deals were 'letters of intent' – Business Insider |publisher=Uk.businessinsider.com |access-date=2016-03-27}}{{cite web|url=http://ftalphaville.ft.com/2016/03/10/2156030/would-you-have-invested-in-powa/|title=Would you have invested in Powa?|website=ftalphaville.ft.com|access-date=2016-03-17}} In response to the criticism, Wagner told Business Insider in August 2016, "Regarding the LOIs, they were contracts committing the merchants to use Powa technology adhering to the terms and conditions published on the Powa website."

In November 2016, The Daily Telegraph reported Powa's administrators were examining payments made to offshore vehicles linked to Wagner and his associates.{{cite news|url=https://www.telegraph.co.uk/business/2016/11/12/powa-technologies-payments-investigated-by-administrators/|title=Powa Technologies payments investigated by administrators|first=Ben|last=Martin|newspaper=The Daily Telegraph |date=12 November 2016|access-date=26 January 2018}} In November 2016, the newspaper City A.M. reported that Wagner was to enter into legal proceedings against a former Powa directors and investors, accusing them of colluding to force the company into administration.{{cite web|url=http://www.cityam.com/252672/powa-play-dan-wagner-ready-legal-battle-former-director-ben|title=Powa play: Dan Wagner in legal battle over collapse of fintech unicorn|first=Emma |last=Haslett|date=1 November 2016|website=cityam.com|access-date=26 January 2018}}

In December 2017, the Times reported the High Court had dismissed Wagner's application to set aside a statutory demand for the repayment of a $2 million loan from former Powa director Ben White. White and Wagner subsequently settled all claims in a private agreement.{{cite web|url=https://www.thetimes.com/article/legal-stand-off-over-powa-loans-is-settled-78xmc5vx0|title=Legal stand off over Powa loans is settled|date=2 April 2019|website=The Times}}

In 2017, Wagner founded mobile commerce platform Rezolve.{{cite news |last1=Kleinman |first1=Mark |title=Colourful tech founder Wagner eyes vindication with $750m Rezolve fundraising |url=https://news.sky.com/story/colourful-tech-founder-wagner-eyes-vindication-with-750m-rezolve-fundraising-12247578 |access-date=22 March 2022 |publisher=Sky News |date=16 March 2021}} Under Wagner, Rezolve developed a tool that allowed smartphone users to scan items in print and TV ads and purchase them, or request more information.{{cite news |last1=Ramkumar |first1=Amrith |title=Mobile Commerce Platform Rezolve Reaches $2 Billion SPAC Deal to Go Public; Rezolve says its platform lets consumers make physical ads and products instantly shoppable by pointing their phones |url=https://www.wsj.com/articles/mobile-commerce-platform-rezolve-reaches-2-billion-spac-deal-to-go-public-11639740602?mod=itp_wsj |access-date=22 March 2022 |work=The Wall Street Journal |date=17 December 2021}}{{cite news |last1=Evans |first1=Peter |title=Dan Wagner snatches another shot at glory |url=https://www.thetimes.com/business-money/technology/article/dan-wagner-snatches-another-shot-at-glory-jk80mnmsm |access-date=25 March 2022 |work=The Sunday Times|date=23 June 2019}} The Financial Times noted Rezolve's function was similar to PowaTag, but Wagner told Business Insider he didn't use IP that didn't belong to him.{{cite news |last1=Shubber |first1=Kadhim |title=Entrepreneur uses assets of failed Powa as basis of retail tech venture |url=https://www.ft.com/content/b96c54e8-69dc-11e6-a0b1-d87a9fea034f |access-date=22 March 2022 |work=Financial Times|date=26 August 2016}}

{{Reflist}}

• [http://www.dan-wagner.com/ Official website]

{{DEFAULTSORT:Wagner, Dan}}

Category:British online retailer founders

Category:Businesspeople in online retailing

Category:1963 births

Category:Living people

Category:People educated at University College School

Category:People from Edgware

Category:English chief executives

Category:English company founders

Category:Businesspeople from the London Borough of Barnet

Category:British technology company founders