Virgin is a leading branded venture capital organisation and is one of the world's most recognised and respected brands. Conceived in 1970 by Sir Richard Branson.
In February 2007, 'The Virgin Group announced the Virgin Earth Challenge - a $25 million prize to encourage a viable technology which will result in the net removal of anthropogenic, atmospheric greenhouse gases.
Sir Richard Branson founded Virgin as a mail order record retailer in 1970 and soon after opened a record shop in Oxford Street, London. In 1972 Virgin built a recording studio in Oxfordshire where the first Virgin artist, Mike Oldfield, recorded 'Tubular Bells'.
The Virgin Group
Background
Virgin has created more than 200 branded companies worldwide.The Virgin Group employs approximately 50,000 people,located in 29 countries. Global revenues in 2008 exceeded £11 billion (approx. US$17 billion).
Often when Virgin starts a new venture they will draw talented people from throughout the group to steer their new ventures. By taking this approach The Virgin Group capitalizes on the expertize and talented management style, skills and experience that these people bring to a new venture. Virgin companies are part of a family rather than a hierarchy. They are empowered to run their own affairs, yet the companies help one another, and solutions to problems often come from within the Group. This is a rather unique management style which creates minimal management layers, no bureaucracy, a tiny board and no massive global HQ.
