The enduring power of home improvements has led the dot.com millionaires and founders of Lastminute.com to launch a new website targeting the diy market.
Brent Hoberman and Martha Lane Fox (who will take up the roles of executive chairman and part-time director respectively - Ms Lane Fox is on the boards of Marks & Spencer and Channel 4), are reportedly in the final throes of starting Mydeco.

The Sunday Times said it will be one of the largest European tech startups, with £5m already in capital set aside.

Although nothing has been confirmed by either party, the site is to be a one-stop shop aimed primarily at a 'large female demographic' who wish to redecorate their properties, sell homewares, and receive advice from a blogging community.

The site is not live, but a holding page asks visitors to add their email address for launch news, enter details of their own diy disasters and enter a contest to win a £1,000 makeover.

Lastminute. com was sold two years ago for £577m.