The high-profile flotation of Lastminute.com has left thousands of private investors out of pocket after the shares nosedived.

Getmapping.com's website has examples of its aerial views

Getmapping's managing director Tristram Cary said: "The market for internet stocks could be wobbly for quite a long time. But we need to do this now to make the most of being the first to do what we are doing."

He added that the company had opted for a "very conservative" flotation price, even though the shares were four times oversubscribed.

Shrewd investor

The Queen became interested in getmapping last year after it sought and won approval to dedicate to her its reproductions of the Domesday Book.

She is known by Buckingham Palace insiders as a shrewd financial operator, although ordinarily her dealings are strictly private.

Lastminute.com's founders saw profits soar... then slump

Getmapping is hoping to make its money by selling chunks of the map to interested members of the public, companies and local authorities.

"This will be useful for estate agents, insurance companies and all sorts of businesses," said Mr Cary, a 51-year-old former Royal Navy navigator.

So far the company's four aeroplanes have photographed about 85% of England and their pictures can already be viewed on the website.

The �6.5 million to be raised from the share issue will be used to complete the rest of the photography work and start making inroads to the continent.