Blippar, the augmented reality developer, has fallen into administration over a funding row. It was one of the UK tech sector’s so-called “Unicorns” – start-up businesses that are worth $1 billion or more.
The firm was co-founded by Ambarish Mitra, and its technology was used in a partnership with the BBC’s acclaimed Planet Earth II series.
The company has now laid off all of its staff, and in a statement said: “We will be learning more about the administration process over the coming days and will keep all our stakeholders informed. We are not in a position to provide all of the details, at this time. The administrators, which have been appointed by a UK court, will be expected to find a buyer for all or parts of the business. Blippar’s services are likely to come to a halt once the administrators take control of the business and its servers. As part of the administration process, all employees will be let go. This is an incredibly sad, disappointing, and unfortunate outcome.”