According to sources familiar with the situation, UNILAD Group, the company behind the humorous site known for funny pictures and video content, is going into administration.
A first announcement reads: “We can confirm that the UNILAD Group is going into administration. There are several investors who are seeking to buy the company and this process will take no more than 14 days. We expect ownership of the business to be passed on and we are confident there will be a smooth handover to the new owners in due course. Work is continuing as normal during this time and we will update you as the situation evolves. Please contact us if you have any queries.”
According to Jim Waterson, media editor at the Guardian: “UniLad heading for administration with debts of £6.5m, including owing £1.5m to the taxman. They’re the fourth biggest publisher on Facebook.”
UNILAD is based in Manchester, UK. It was launched in 2010 as the British response to Buzzfeed, offering catchy and often crude, sexist jokes, which would quickly go viral. In 2014, it was acquired by entrepreneurs Liam Harrington and Sam Bentley and, as a result, quickly polished its image, departing from its lad-culture approach.
This is a developing story, and we’ll update with more info…
More from Other Platforms
Instagram like counts, should we show them or hide them? Instagram cannot decide, so now they will ask us to …
Snapchat is collaborating with the Los Angeles County Museum of Art to bring five augmented reality monuments to Los Angeles.
The new TikTok Video Editor makes it easy for advertisers to easily and effortlessly create native TikTok video ads.