The administration of these subsidiaries, Guvera Australia and Guv Services, is being managed by Deloitte, which has issued a deed of company arrangement. The private placement memorandum also revealed that Guvera was continuing to evaluate opportunities in other emerging markets such as the Philippines, Vietnam and China. It also said that Guvera had placed the company's subsidiaries in Peru, Mexico, the United States, Finland and Singapore in administration or liquidation.
At the first creditors meeting of the subsidiaries under administration, former Guvera employees told The Australian Financial Review the company had not paid employer superannuation contributions for as long as two years. But it turns out none of it was ever actually paid into my super fund," said one former employee who asked not to be named at the meeting.
Mr Loberg, who has relocated to Jakarta and Mumbai, would not speak to The Australian Financial Review on Friday, despite repeated requests for an interview, but the company said in a statement that its headquarters and tech hub would remain in Queensland, despite the closure of the local streaming business.
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If there's no advertiser to pay for your streams and downloads, you can't register. Here's how it works: Advertisers tell Guvera the key attributes of the music they want associated with their brands, and Guvera's Pandora-like algorithm filters those songs into those channels. The end user will have access to millions of songs through a typical search box, but will end up playing or downloading within one of those channels.
Instead of interrupting the music experience with pre-roll ads or any other delays, you can proceed directly to the stream or download, Guvera CEO Claes Loberg told Wired. By way of analogy, imagine music as a sporting event. Would you rather that on-field commercials interrupt the game before each play, or that the stadium be named after a brand while play continues as usual?
Guvera takes the latter approach, setting up these branded areas but otherwise not tampering with the action on the field, so to speak. Sep 28, CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience.
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