Administrators appointed for phone contract comparison app
Yorkshire based phone contract comparison app, yboo ltd, has gone intro administration.
It's been confirmed that Quantuma LLP partners, Simon Bonney and Michael Kiely, will work as its joint administrators:
“I can confirm that myself and Michael Kiely have been appointed as joint administrators of YBOO Limited due to an unsatisfied demand for repayment from the company’s Chargeholder. We are currently taking steps to keep the company’s IP and software live in order to seek offers from interested parties,” said Bonney.
“We are continuing to review the position to determine the best outcome for the company’s creditors. There is significant intellectual property available for sale and I would urge any parties interested in either the IP or the assets of the business to contact the Joint Administrators.”
yboo was founded in 2017 and within a year, it said that it had “smashed” its growth targets and was planning to expand into larger offices and recruit more staff. Its app recommended phone contracts or SIM deals based on usage, price and signal strength where customers live and work. It had more than 40,000 downloads across both Android and iOS devices.
CEO, Martyn Gould appeared on the most recent season of Dragon’s Den, seeking £250k in return for 2.5% equity. However, he didn't get any investment.
In June, Gould told Prolific North that the company was in “growth mode” and that “revenue is quadrupling month on month.”
Based in Holmfirth, the company employed 12 staff.