To have one £16m-funded social-app startup in London plunge into administration within months of its launch may be regarded as a misfortune. To have two looks like carelessness on the part of investors, to say the least. Crowdmix went bust earlier this year, and now it has been joined by Yubl. Name rings a bell? Yubl was a mish-mash of social features, with users creating “rich visual messages” combining photos, videos, filters, text and stickers, and then chatting to one another. It launched in February in the UK, and claimed to have more than 150,000 monthly active users, but it seems a failure to secure funding has consigned the app to the dumper. “I am so disappointed we failed to secure sufficient funding to give us the runway to achieve what we all believed Yubl could do and, although we came agonisingly close, it just eluded us in the end,” CEO Gareth Evans told Business Insider.

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