The social media software and intellectual property assets of MeVi Limited, are for sale following an instruction from administrators, FRP Advisory LLP, to Metis Partners, an award-winning, commercial intellectual property consulting firm.
MeVi is social media software that enables an audience to engage with events and receive a memory of it without having to film the experience themselves. MeVi creates videos of users at events, such as sports matches or rock concerts, which are then uploaded to the cloud, permitting immediate social media sharing.
The software can locate, identify and film individuals within a crowd at a live event and produce videos of these individuals to themselves through iOS and Android apps. The solution is based on the MeVi Platform, a proprietary technology for locating users and capturing images and videos of users.
Nat Baldwin, Head of Corporate Recovery and Brokerage at Metis Partners, said: “MeVi has the potential to capture unique live moments to enrich users’ experience at events.
“The business has attracted over half a million pounds of investment in the development of its technology. It has been tested at two events although the product is not yet fully operational or revenue generating. The first of these was at the Revel in Edinburgh in May 2015, with a follow-up event at a Newcastle Falcons home game in May 2015. At both events videos were created and delivered to the user in less than five seconds.”
MeVi’s intellectual property assets for sale includes platform and source code, branded domain names and website, rights in trademarks and organisational knowledge. Metis Partners expects the sale of these assets to be of interest to businesses and individuals operating in the social media, events management, theme park, entertainment, media, technology and sports environments.
The sale of MeVi reinforces Metis Partners’ position in the software and technology sector as it has had recent success selling IP assets from a range of widely-recognised social media, software and app businesses, including Blinkbox Music, WeeWorld, Polaroid Blipfoto and Realtime Worlds.