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The chairman and owner of the Saracens rugby club, Nigel Wray, saw that his stake in YOLO Leisure and Technology, which is his investment firm, shoots up by £3.3million, after the YOLO Leisure and Technology soared in value.
YOLO, the name of the company is taken from the phrase ‘you only live once’ rose to 65 percent, since one of its music-streaming service Electric Jukebox, investments, said next year, it would list the name of the company on the London Stock Exchange.
YOLO holds 41 percent of Electric Jukebox and it is also backed by the celebrities including Robbie Williams and Sheryl Crow. The company, was also seen the growth after the launch of its entertainment device which was its second entertainment device. The device was the karaoke machine; this is also called as Roxi.
As the biggest shareholder of YOLO with a 23 per cent stake, Wray, who is now 69-years-old has got a big advantage in terms of finances. Continue reading