Deal values ‘yet to be formed’ technology division of THG at $6.3bn

The Hut Group (THG), the online retailer empire run by billionaire Matthew Moulding, has struck a complex joint venture deal with Japanese investment giant SoftBank that values a “yet to be formed” technology division of THG at $6.3bn (£4.5bn).

The deal, announced on Monday, values THG Ingenuity, which Moulding described as a “social media influencer platform” used to promote products, at about the same amount that the whole company floated at last year.