UpMyStreet finds buyer, claims founder
- Added:
- May 14, 2003
According to a web log posted today by former employee Tom Coates on www.plasticbag.org, the company was sold to uSwitch, which operates a utilities comparison website, but the offer was not for the entire organisation and as a result he had been made redundant.
Stefan Magdalinski, UpMyStreet founder and chief technology officer, also posted this message on his web log, www.whitelabel.org: "I was made (along with the rest of the former senior mismanagement, and anyone who'd been there less than a year) redundant from UpMyStreet on Monday." He added that he felt both tired, and an overwhelming sense of relief, and wished his luck to the new owners.
A spokesperson at accountants MSN Rhodes, which has been dealing with the administration on behalf of UpMyStreet, confirmed that a buyer has been found, but said she is not at liberty to reveal further details about the buyer or exactly how many redundancies had been made.
She added that the administrators are currently finalising the details of an official announcement with the new buyer, which will most likely be released tomorrow.
"www.upmystreet.com ":http://www.upmystreet.com
"www.uswitch.com ":http://www.uswitch.com
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