17 March 2015
Last updated at 18:24
Liquidators said the Blipfoto website would continue to operate for the momentOnline photo-sharing firm Blipfoto has gone into liquidation, it has been confirmed.
Business services firm FRP Advisory were appointed as liquidators of the Edinburgh-based firm on 11 March.
Eleven staff were laid off at the company before FRP was called in.
Liquidators said Blipfoto's website continued to operate and they were "in discussions with an interested party" over the sale of the site and intellectual property.
In recent days, as rumours of the company's collapse spread, worried users have been asking what might happen to the photos stored on Blipfoto's servers.
'Viable future'
In a statement on Blipfoto's website on Tuesday, company founder Joe Tree said that following "events outside its control", the Blipfoto board of directors had taken "the incredibly difficult decision" to put the company into liquidation.
He said: "Following that decision, I, and everyone else at Blipcentral, have had to take a step back and let the experts we appointed take full control of the company.
"I apologise that our silence during this period has been difficult and unsettling, but it has been entirely necessary and proper.
"I'm now in a position to release this statement to the community and provide some assurance that the liquidator ... is confident a viable, long-term future for the Blipfoto platform, community and content will be secured in the coming days under new ownership.
"There is a preferred bidder and final discussions are taking place as I write."
'Unique place'
He added: "As so many of you have said over the last 48 hours, this is a unique place underpinned by one of the most vibrant and supportive communities on the internet - there's really nothing quite like it.
"Our pictures and words have come to mean so much to us individually, but the way our collective story touches a much wider audience is truly remarkable, and something I'll always be immensely proud of.
"I can't say any more at this stage, but I am optimistic the lights aren't about to go out and know many people are working hard behind the scenes to make sure they shine even more brightly in the future."
In a statement FRP said: "A sale of the assets will protect subscribers and ensure continuity of the service.
"FRP Advisory hopes to progress matters quickly and will update as soon as possible."
Blipfoto is a website where users document their lives daily with a single photo and some text.
It was founded in 2004 by Mr Tree and now reaches half a million people every month, in 175 countries.
In January, it entered a partnership with Polaroid. The website was then relaunched as Polaroid Blipfoto.
Source Article from http://www.bbc.co.uk/news/uk-scotland-scotland-business-31927236#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa http://revealedtech.com/wp-content/uploads/2015/03/81707845_81707844.jpg
Liquidators called in to Blipfoto
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