Investor confidence has slumped over the past few months after ODM’s failure to secure a big name to lead the business
Original Device Manufacturer (ODM) MOJO Maker has been placed into administration – just four years after it launched.
Investor confidence in the business has declined over recent months due to the failure to attract a high-profile senior executive to lead operations since the departure of sales and marketing director Caroline Preston in December.
MOJO Maker has approached a number of people to take this role since the turn of the year, including former Samsung VP Simon Stanford, who had initially accepted the job offer.
However in January, Stanford made the late decision to turn down the opportunity to improve sales to operators and retailers for the ODM in favour of joining O2 as its new head of enterprise sales.
MOJO Maker was founded by Preston in 2011. It released its first Android handset, the Chat, in June of that year. It was available through Tesco, with sales topping 165,000 units within 12 months.
In 2012, the firm signed its first distribution deal with Exertis (then Micro P) and set ambitious targets to achieve revenues upwards of £40 million by the end of this year, marking a tenfold increase.