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.
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”.
