Dragon-backed photobooth company goes into liquidation

SOCIAL media photo booth company Zeven Media – backed with £50,000 by TV ‘Dragon’ Deborah Meaden in 2015 – has gone into voluntary liquidation.

Alan Coleman of Manchester accountancy firm Royce Peeling Green was appointed to carry out the voluntary winding up of the company, based in Stretford, Greater Manchester.

The company, founded by brothers Josh and Hyrum Cook, appeared on the popular BBC Dragons’ Den programme in January 2015, and employed six people.

The Cooks secured £50,000 of funding from Meaden for a 25% stake to expand their business and launch the UK’s first free-standing contactless payment photo booth.

Its 2,000sq ft offices next to Old Trafford allowed more on-site booth production.

Zeven Media’s booths allowed users to pose for a photo and share it immediately via text message, Facebook, Twitter or email, as well keep as a branded printout.

The photobooths were all created in Manchester, with 100% British materials following the company’s launch in 2013.

Clients provided visuals and the wraps and backdrops were all created by the Zeven team.

“Over the last year, they have not managed to make the turnover required to break even,” said Coleman. “The business did fairly well in the first couple of years, working with corporate partners.”