Ovivo Mobile Communications Shuts Down Abruptly

OvivoOvivo Mobile Communications has apparently shut down operations in a rumored bankruptcy.  In a posting on the providers web site the company stated:

Dear OVIVO Customers,

We are very sad to announce that for reasons beyond our control, OVIVO Mobile is closing down on the evening of Wednesday 19th March 2014.

We’d like to thank each and every one of you for your support and friendship over the last two years.

To keep your OVIVO number, just fill out this form, and we’ll send you your PAC code.

Ovivo ran a very successful crowdfunding campaign on the Crowdcube platform in 2013.  The company raised £421,000 from 111 investors for 25.91% equity.  Ovivo is a mobile virtual network  operator (MVNO) which is supported by advertising and mobile e-commerce.  Wholesale service was purchased from Vodaphone.    It has been reported the mobile company had approximately 50,000 customers.

Apparently there has not been any communication from company founder and CEO – Dariush Zand.

HotUKDeals has posted steps to take if you were a customer of the company.

The Ovivo experience is indicative of the risky nature of investing in startups or small companies.

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