TPP Wholesale NOT Owned By Larry Bloch

Written by David Richards     07/04/2014 | 10:04 | Category: INDUSTRY

Last week in a story about Netregisry customers and TPP Wholesale we indicated that Larry Bloch the former owner of Netregistry had migrated former Netregistry customers into a new Company called TPP Wholesale, this was incorrect. WPP Wholesale is 100% owned by Melbourne IT who recently acquired Netregistry.

TPP Wholesale NOT Owned By Larry Bloch

Larry Bloch has since contacted ChannelNews to say that he did not pocket $38m. He said that $50.4m was paid to all shareholders in cash ($38m) and shares.

He personally took up about 9.9% of MLB stock ($12m worth) and a relatively small sum of cash.

This was smaller than the 4 next shareholders despite being Bloch being the largest shareholder.

He said that he took about 17% of his consideration in cash.

He claims that Netregistry customers were made aware of the migration thou I as the CEO of 4Square Media and a long-time customer of Netregistry did not get a notification email. 
 
Bloch said that customers affected by the black ban are not solely related to the migration from Netregistry to TPP Wholesale and that customers at Optus, Vodafone and Telstra are affected by the Black ban. 

He said "It's all customers across all Netregistry brands that use those mail servers, it's not necessarily brand or customer group dependent".

Breaking News

  • Microsoft's Revenues Neutered By Nokia

    Microsoft's Revenues Neutered By Nokia
    Microsoft has taken a massive US $700M hit on operating profits due in part to its $7B acquisition of Nokia, this may explain why Microsoft will soon sack 18,000 staff.

  • Dolby Atmos Now In Denon Products

    Dolby Atmos Now In Denon Products
    Denon has launched two new X Series Network AV Receivers enhanced with Dolby Atmos for the ultimate cinema-quality sound in your own home theatre.

  • Can High-Res Audio Reboot Sony Walkman Sales?

    Can High-Res Audio Reboot Sony Walkman Sales?
    It's 2014 and Sony has bought the Walkman back this time as a 24Bit High Res Audio Player but the big question is this the "killer" portable play for High Res Audio going forward.