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Get the biggest daily stories by email We will use your email address only for the purpose of sending you newsletters. Please see ourPrivacy Noticefor details of your data protection rightsThank you for subscribingSee our privacy noticeCould not subscribe, try again laterInvalid Email A company has gone into administration just weeks after its boss was branded “delusional” as he bid for cash on TV’s Dragon’s Den. Huddersfield-based yboo Limited – a firm which created a mobile phone contract comparison app – was set up by entrepreneur Martyn Gould in 2017. The firm, which recently moved to the Media Centre in Huddersfield from Holmfirth , employed 12 people. Quantuma LLP partners, Simon Bonney and Michael Kiely, have been appointed as joint administrators following an unsatisfied demand for payment by the company’s chargeholder. yboo used its app to recommend phone contracts or SIM only plans based on usage, price and signal strength where customers live and work. The app has more than 40,000 downloads across both Android and iOS devices. Mr Gould, the firm’s CEO, appeared on BBC2’s Dragon’s Den in August, pitching for £250,000 of funding in exchange for 2.5% of the business. Martyn Gould, of Huddersfield firm yboo, as he prepared to enter the Dragon's Den. He was given a hard time by the dragons when he valued his business at £10 million and revealed turnover of less than £60,000 a year. Retail giant Touker Suleyman branded him “delusional” and scoffed at his turnover, saying: “A little market stall does more than that.” Mr Gould, an industry expert who started at phone company Cellnet 20 years ago, told the dragons that an unnamed price comparison website wanted to buy the business last year, valuing the company at £5 million. Deborah Meaden accused him of misrepresenting the offer and said: “You’re either very naive or you think I am very naive.” Mr Gould told the dragons: “I spent 14 months with no salary, no income, spending my savings to launch this service, that’s how much I believe in it.” From left: Touker Suleyman, Sara Davies, Deborah Meaden, Tej Lalvani, Peter Jones (Image: BBC Studios/Andrew Farrington) He said £1.1 million had been invested in the business with £300,000 on marketing. Mr Gould said he would use the dragon investment to go international but Touker responded: “You can’t get the UK right and you’re thinking maybe there’s a softer target elsewhere. I think you’re delusional.” Simon Bonney, partner at Quantuma LLP, said: “I can confirm that myself and Michael Kiely have been appointed as joint administrators of yboo Limited due to an unsatisfied demand for repayment from the company’s chargeholder. “We are currently taking steps to keep the company’s IP and software live in order to seek offers from interested parties. “We are continuing to review the position to determine the best outcome for the company’s creditors. There is significant intellectual property available for sale and I would urge any parties interested in either the IP or the assets of the business to contact the joint administrators.” Read More Quick money saving tips that could save you £450 in a few minutes Read More Sockitz inventor who landed Dragons' Den deal reveals what TV didn't show ?

Get the biggest daily stories by email We will use your email address only for the purpose of sending you newsletters. Please see ourPrivacy Noticefor details of your data protection rightsThank you for subscribingSee our privacy noticeCould not subscribe, try again laterInvalid Email A company has gone into administration just weeks after its boss was branded “delusional” as he bid for cash on TV’s Dragon’s Den. Huddersfield-based yboo Limited – a firm which created a mobile phone contract comparison app – was set up by entrepreneur Martyn Gould in 2017. The firm, which recently moved to the Media Centre in Huddersfield from Holmfirth , employed 12 people. Quantuma LLP partners, Simon Bonney and Michael Kiely, have been appointed as joint administrators following an unsatisfied demand for payment by the company’s chargeholder. yboo used its app to recommend phone contracts or SIM only plans based on usage, price and signal strength where customers live and work. The app has more than 40,000 downloads across both Android and iOS devices. Mr Gould, the firm’s CEO, appeared on BBC2’s Dragon’s Den in August, pitching for £250,000 of funding in exchange for 2.5% of the business. Martyn Gould, of Huddersfield firm yboo, as he prepared to enter the Dragon's Den. He was given a hard time by the dragons when he valued his business at £10 million and revealed turnover of less than £60,000 a year. Retail giant Touker Suleyman branded him “delusional” and scoffed at his turnover, saying: “A little market stall does more than that.” Mr Gould, an industry expert who started at phone company Cellnet 20 years ago, told the dragons that an unnamed price comparison website wanted to buy the business last year, valuing the company at £5 million. Deborah Meaden accused him of misrepresenting the offer and said: “You’re either very naive or you think I am very naive.” Mr Gould told the dragons: “I spent 14 months with no salary, no income, spending my savings to launch this service, that’s how much I believe in it.” From left: Touker Suleyman, Sara Davies, Deborah Meaden, Tej Lalvani, Peter Jones (Image: BBC Studios/Andrew Farrington) He said £1.1 million had been invested in the business with £300,000 on marketing. Mr Gould said he would use the dragon investment to go international but Touker responded: “You can’t get the UK right and you’re thinking maybe there’s a softer target elsewhere. I think you’re delusional.” Simon Bonney, partner at Quantuma LLP, said: “I can confirm that myself and Michael Kiely have been appointed as joint administrators of yboo Limited due to an unsatisfied demand for repayment from the company’s chargeholder. “We are currently taking steps to keep the company’s IP and software live in order to seek offers from interested parties. “We are continuing to review the position to determine the best outcome for the company’s creditors. There is significant intellectual property available for sale and I would urge any parties interested in either the IP or the assets of the business to contact the joint administrators.” Read More Quick money saving tips that could save you £450 in a few minutes Read More Sockitz inventor who landed Dragons' Den deal reveals what TV didn't show ?