Hyped AR startup Blippar crashes into financial reality

London-based augmented reality startup Blippar, which once claimed to be valued at $1.5 billion, has gone into administration.

The company announced the news on Monday, blaming a dispute between investors for the move. A major shareholder, Malaysian sovereign wealth fund Khazanah Nasional, blocked an emergency $5 million round of funding for the startup, which lost £35 million ($44 million) in 2017. The funding round would have diluted Khazanah’s share in the company.

Corporate insolvency firm David Rubin & Partners has been appointed as Blippar’s administrators and will now attempt to sell the company, either in parts or as a complete entity. The process is similar to that of…

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