Digital Distribution Networks Limited (06436769): administration
- Status
- Administration ended
- Administration began
- 2014-05-02
- Administrators' firm
- Moorfields
- Incorporated
- 2007-11-26
- Location
- London
- Industry
- 62020 Information technology consultancy activities
Why it went into administration
- Property / lease costs
- Funding withdrawn / unable to refinance
- Competition / price pressure
- Energy costs
- Loss of key people
From the administrators' statement
The Company was incorporated on 26 November 2007 under the name Digital Distribution Networks Limited using the trading style Bloom fm The Company traded from serviced offices located at Unit 129, The Lightbox, 111 Power Road, London, W4 SPY (“the Trading Premises”) From 24 December 2009 this was also the Company's registered office
The Company's business ts Bloom fm (“Bloom”) which Is an all-in-one music app for smartphones, which combines a 22 million track library, streaming radios, music discovery, track caching and a local Itbrary player
The Company negotiated and agreed contracts with over 40 record labels, however, contracts with Sony, Universal and Merlin were subject to ownership of DDN IP, these labels accounting for more than 75% of the overall track library available via the Bloom app
Administrators' statement of proposals (2014-06-19) · Companies House register