Oovvuu goes into liquidation: Aussie media start-up collapses owing $1.3million

A multi-million dollar start-up that provided its services to well-known media outlets has collapsed owing $1.3million to creditors. 

melbourne-based Oovvuu plunged into liquidation in May despite investors pouring $8.5million into the company since its launch in 2014.

The company provided services to more than 250 media outlets around the world and counted Reuters, BBC, ABC, Channel 7 and Newscorp among its clients.

Oovvuu was considered an industry-leading start-up as it had developed an AI system that allowed journalists to match the most relevant videos to news stories.

The company owes $1.3million to creditors, including the Canadian Broadcasting Corporation, Euronews, Bloomberg, AFP and Aljazeera.

Employees are owed $489,000 in unpaid entitlements and there are 32 unsecured creditors.

insolvency firm Auxilium Partners has been appointed as liquidators of Oovvuu Pty Ltd. 

Oovuuu’s LinkedIn page states: ‘We provide publishers with a full stack solution including the video, the platform,…

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