Bright Station has bought the technology which allowed users of the Boo service to view 3D animations of the clothes they wanted to buy. The company will licence the technology to other consumer retailers.
Boo had spent several million pounds on the technology which made Boo.com among the most sophisticated retailers on the internet. The level of sophistication was such that the site was beyond the technological reach of many internet shoppers’ systems, a factor in Boo’s downfall.
The investors in Boo are likely to lose all they invested. The liquidators, KPMG, are expected to announce buyers for the brand and web site later today.
Boo spent over £80m since its launch 18 months ago, with sales latterly reaching £1m per month. Boo now owes approximately £17m to creditors, most of whom are advertising agencies.