{"id":5575,"date":"2018-12-18T10:19:28","date_gmt":"2018-12-18T10:19:28","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/uk-tech-firm-blippar-collapses-into-administration\/"},"modified":"2018-12-18T10:19:28","modified_gmt":"2018-12-18T10:19:28","slug":"uk-tech-firm-blippar-collapses-into-administration","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/uk-tech-firm-blippar-collapses-into-administration\/","title":{"rendered":"UK tech firm Blippar collapses into administration"},"content":{"rendered":"\n
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\n Mr Mitra’s success saw him become a brand ambassador for the UK
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One of the great hopes of the UK tech sector, Blippar, has collapsed into administration over a funding row.<\/p>\n

The augmented reality firm was co-founded by Ambarish Mitra, and its technology was used in a partnership with the BBC’s Planet Earth II series.<\/p>\n

Blippar was one of the UK’s tech “Unicorns” – start-up businesses that are worth $1bn or more.<\/p>\n

Mr Mitra became a brand ambassador for the UK to promote British innovation around the world. <\/p>\n

He claimed to have founded his business from a Delhi slum, leading him to be dubbed a “real-life Slumdog Millionaire”.<\/p>\n

However, the Financial Times ran a profile disputing many of Mr Mitra’s<\/a> claims about his birth and his business development. <\/p>\n

Blippar was founded in 2011 by Ambarish Mitra and Omar Tayeb. <\/p>\n

They say they came up with the idea for the company after sharing a joke about the Queen coming to life out of a \u00a320 note. <\/p>\n

At one stage, the company said it employed more than 300 people, although that number is believed to have sunk to about 75 at the time of its administration.<\/p>\n

Mr Mitra raised money for Blippar from major investors Qualcomm and a Malaysian sovereign wealth fund.<\/p>\n

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Media caption<\/span>WATCH: App recognises Rory<\/figcaption><\/figure>\n

However, joint administrators Paul Appleton and Paul Cooper of insolvency firm David Rubin & Partners said Blippar had fallen into administration “effectively as a result of an alleged dispute over continued funding”.<\/p>\n

“Following their appointment, the administrators are now exploring all possible options for the future of the business for the benefit of all stakeholders.”<\/p>\n

The company’s Twitter feed says: “We’re saddened to announce that Blippar has gone into administration today. <\/p>\n

“We’re eternally grateful to all our team members, customers, partners, our board and investors who have been with us on this incredible journey.”<\/p>\n<\/p><\/div>\n


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Source<\/a> by [author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Image copyright Getty Images Image caption Mr Mitra’s success saw him become a brand ambassador for the UK One of the great hopes of the UK tech sector, Blippar, has collapsed into administration over a funding row. The augmented reality firm was co-founded by Ambarish Mitra, and its technology was used in a partnership with … <\/p>\n","protected":false},"author":0,"featured_media":5576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=5575"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5575\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/5576"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=5575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=5575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=5575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}