LOS ANGELES—The directors of the London-based mobile performance ad network, Reporo, have initiated Voluntary Liquidation, according to a notice to their partners on the home page.
“BM Advisory has been asked to assist in the formalities of placing the company into Liquidation,” the notice reads.
A representative from Reporo did not respond to request for comment at post time.
As part of the notice, Reporo also linked to a letter to creditors from BM Advisory partner Andrew Pear.
Regarding Mobilewebadz Limited (“the Company”), the letter says, “The purpose of this decision is to seek the creditors’ ratification of the members’ nomination of a Liquidator, and if the creditors so wish, the formation of a liquidation committee. Resolutions to be taken at the meeting may include a resolution specifying the basis on which the Liquidators are to be re-numerated and creditors may also be called upon to approve the costs of assisting in the preparation of the Statement of Affairs and facilitating the creditors’ decision procedure to wind up the Company.”
The letter continues, “The creditors’ decision is being sought by a virtual meeting to be held on 21 May 2018 at 11 a.m. (the decision date).”
For the full letter, click here.
Using banners and pop-under ads, Reporo at its height reported generating more than 40 billion ad impressions a month across 200-plus countries. The company focused its conversions on products such as VOD, utility apps, gaming, men’s health, casino/sports betting and adult. Reporo has been featured four times in the London Sunday Times Tech Track 100 league table, and in June 2016, the HSBC International Track 200. It was also listed in the Deloitte Fast 500 in 2015.
Written by: Dan Miller
Originally published on: https://avn.com/business/articles/technology/reporo-enters-liquidation-777241.htmlTags: Reporo