Aktuellt

Prospect – Gigital AB

Regarding sale of the business and the assets in the bankruptcy of Gigital AB, 559112-1461


Background

On April 8, 2024, the Swedish company Gigital AB, 559112-1461, was declared bankrupt and attorney-at-law Nils Åberg was appointed as official receiver in the bankruptcy.

Gigital AB (”the Company”), founded in 2017, is a digital marketplace serving as a link between artists, bands, and DJs on one side, and event organizers on the other, facilitating the booking process seamlessly. In addition to bookings, the platform also offers various administrative services such as contract tools, collective invoices for several gigs, division of compensation among several band members, calendar management and artist presentations.

The platform currently has more than 400 bookable artists registered. The primary customers include restaurants, clubs, hotels, and events where the customer is recurring. The platform enables direct negotiation and reduces the need for traditional intermediaries, which promotes smooth transactions and opens new revenue opportunities for artists and organizers. The Company maintains collaborations with major recurring companies through framework agreements, offering discounted bookings in return for steady revenue streams for the platform.  

With a 15 % transaction fee from both artists and booking parties, the platform generates consistent revenue streams with every successful booking. The average profit margin is 21,6 %, and the profit margin for bookings without discounts is 26 %. The platform’s income model ensures profitability and scalability for a new acquirer of the platform.

For more information about the platform, see appendix 1 and 2. More information about the platform can also be found on the Company’s website gigital.com.

During the financial year 2022-05-01–2023-04-30, the Company reported a total turnover of SEK 2,825,330.

The bankruptcy estate hereby invites bids for the business and/or its assets.

Assets for sale

The assets offered for sale by the bankruptcy estate are:

a) Rights and source code to functional, up-and-running platform developed by the Company, see the directory tree in appendix 3

b) Domains and websites

  • gigital.com
  • gigital.se
  • gigital.dk
  • gigital.fi
  • gigital.de
  • gigital.nl
  • gigital.co.uk

c) List of customers and suppliers

d) Registered trademarks

e) Social media accounts on Instagram, Facebook and Youtube

f) The right to enter into the Company’s existing agreements, for example with customers and suppliers (subject to the other party’s approval)

General disclaimer and reservations

The bankruptcy estate transfers all property “as is”. It is the responsibility of a buyer to carry out the required inspection of the property in order to clarify, e.g., the scope of the assets and to detect any errors and defects.

The bankruptcy estate does not provide any guarantees regarding the accuracy and completeness of the information provided in this prospect or otherwise.

The bankruptcy estate makes no guarantees regarding the possibilities for a buyer to use or dispose of intellectual property rights. Use of transferred intellectual property rights is at the buyer’s risk.

A takeover of assets covered by agreements regarding e.g. rent, leasing or installments require the approval of the other party in the respective agreement.

The bankruptcy estate reserves itself against any misspellings or inaccuracies in this prospect.

The bidding procedure

Bids are requested primarily on the business and assets as a whole, and, secondly, on parts of the assets.

Interested parties are hereby invited to present written bids on the assets as a whole or for parts of the assets addressed to the bankruptcy estate by sending an email to Freja Lindqvist at [email protected] on or before the 25th of April 2024 at 13:00 CET. All bids shall clearly specify the name and contact details of the bidder. All bids shall be financed and prepared for cash payment at closing.

The highest bid will be communicated to other bidders who will be given the opportunity to raise their bid within a shorter period of time determined by the bankruptcy estate. However, the bankruptcy estate will not state who made the bid.

The bankruptcy estate reserves the right to make its own assessment of bids places, as well as the right to sell all or parts of the assets while the bidding procedure is in progress, as well as the right to extend the bidding period.

Inquiries regarding the business and the assets are answered by Freja Lindqvist at

[email protected] or +46 (0)72 601 38 14.
__________________

Carler Law firm and the bankruptcy estate process the personal data used in this bankruptcy document. For more information about Carler Law firm’s and the bankruptcy estate’s processing of personal data, please refer to our personal data policy at Carler Lar firm’s website, www.carler.se.