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Former success story Leadpoint UK becomes insolvent

Lead generation website Leadpoint UK Limited has become insolvent, FTAdviser understands.

A notice has appeared on saying Leadpoint UK Limited has announced meetings of the firm’s creditors.

In 2011, Leadpoint told FTAdviser it had kicked off the year with a record number of enquiries and had signed up more than 100 new advisers.

Later that year Leadpoint came second in a Deloitte ranking of the 50 fastest-growing technology companies in the UK.

Leadpoint is not the first lead generation firm to exit the market. FinanceLeadsOnline wrote to clients saying it would shut down on 2 January following its acquisition by Google.

The firm also came out to help brokers who had been left out of pocket following the collapse of another lead generation firm Leadbay in 2010.

At the time Nick Chapman, founder and former managing director, said Leadbay’s collapse would affect many brokers who rely on new leads to fuel their business.

Leadpoint was acquired by Simply Media Network in November 2011, and Mr Chapman left shortly thereafter.

Per Pettersen, director of Simply Media Publishing Ltd and LLC, said: “The parent company that owns LeadPoint UK Ltd have decided to restructure the UK business and have re-licensed the LeadPoint brand, lead trading platform and domain to a new US based company with an Administrative arm (Simply Media Publishing Ltd) in the UK.

“The new controller of the LeadPoint trading platform is Simply Media Publishing LLC which is administered by the UK company and it is business as normal for the LeadPoint buyers and sellers”