What does it take to build a $2 billion consumer Internet company in the UK? For starters, center it around a market that’s illegal in the US. Betfair, a marketplace that matches and executes some five million wagers everyday, went public earlier this year and is valued at more than $2 billion.

It has a few things in common with the other $2 billion-plus Internet win out of Europe, Skype. While… → Read More