EDINBURGH-based Blipfoto has gone out of business with the loss of eleven jobs.

FRP Advisory, appointed liquidator of the photo-sharing business, said the company had run into cash flow issues.

The website remains in operation, with FRP holding talks with an interested party over the sale of the website and intellectual property. FRP said a sale of the assets will protect subscribers and ensure continuity of the service.

Blipfoto, an online photo journal, was founded by Joe Tree and Graham Maclachlan in 2006. The site has users in 170 countries who have shared about 3.5m photos.