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Unlockd in voluntary administration following legal action against Google

“As such, we have not been able to secure the capital we had expected to replace the IPO and therefore have been left no choice but to move into voluntary administration.

“We believe that Google’s conduct and the effect of its actions represents a further example by them of anti-competitive conduct toward innovative start-ups such as Unlockd, that might pose a future threat to their position in the market. Until wide reaching change is brought about to prevent companies like Google from abusing their dominant market positions, consumers and innovation will continue to suffer.

“Unlockd’s Board of Directors and management are now working with administrators to decide on the best path forward for the business and continue to assess current discussions regarding investment and potential acquisition,” the statement said.

Unlockd’s mobile rewards platform allows users to opt-in to view targeted ads, content and offers upon unlocking their smartphone, in exchange for rewards. Unlockd and its partners seek to reward user’s attention by returning a portion of the advertising revenue back to users in the form of mobile data, credit off phone bills, entertainment content, or loyalty points. Since it began, Unlockd returned over $15m worth of rewards to users.