Investment columnist Niki Panourgias examines how Lastminute might prove it was worth that valuation after all.

Features: "It is as command and control centres that the business groups of the future will function. They will act as gatekeepers in the strategic flow of information between demand and supply and just like all those who make millions out of music based on sampling, they will be in a position to 'compose' compelling product offerings for both the mass market and the most specialist niche imaginable. "