AN INTERNET site set up by a Brighton family has been valued at

£40 million.

The Schoolsnet education site was set up by 17-year-old Tom Hadfield and his father, Greg, 43, in November last year and now the business is estimated by an independent management consultant to be worth millions.

The website, which contains a guide to every school in the United Kingdom, including examination results and Ofsted reports, is the Hadfields' second Internet success.

The pair are also responsible for creating the world's most popular football site, Soccernet, which was sold to Associated News Media for a six-

figure sum last year.

Disney later bought a 60 per cent share in Soccernet for £15 million.

Schoolsnet is itself currently involved in talks over potential business deals.

Chairman Greg, of Surrenden Road, said: "We're in discussion with a number of companies about strategic partnerships that will help build the company."

Based in Westminster around the corner from the Department of Education, Schoolsnet employs 26 people and labels itself the UK's No1 education website.

The idea for the site stemmed from the father and son team while they were working together at home.

Mr Hadfield explained: "It was a mixture between a return to my roots as an education correspondent for The Times and a broader vision of the web."

Rich

Varndean Sixth Form College student Tom is the general manager of Schoolsnet and he splits his time between work and studying for his A-Levels.

In April last year, he appeared in ITV documentary about Britain's richest youngsters.

With an official UK launch planned for around March, Schoolsnet hopes to attract pupils who are revising for exams during the Easter break with the website's library, a universities guide and education news.

As well as working on a launch in the Republic of Ireland, attempts to capture the world market by producing a guide to foreign schools are being developed.

"What we have is something that can be repeated," said Mr Hadfield.

The company, which estimates its site will get seven million hits a month, is making arrangements for a large online and offline marketing scheme.

Mr Hadfield said: "We're embarking on a £2 to £3 million advertising campaign which will begin around February and March."

The website can be found at www.schoolsnet.com

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