Ve Interactive, the advertising technology company once valued at £1.5bn that was bought out of administration last week, was sold for just £2m.

Administration documents revealed that last week’s management buyout of the London-based company came at a pittance relative to Ve’s once lofty ambitions.

The company had more than £50m in debts when it was rescued in a pre-pack administration in an attempt to keep the company going, saving around 250 jobs.

Ve, once seen as one of the UK’s most promising technology start-ups, was valued by some investors at £1.5bn last year, but struggled to pay staff costs and debts when revenues grew much slower than expected.

It was rescued at a £300m valuation earlier this year, with Aston Ventures and a consortium of other investors putting £3m in and planning to raise at least £20m more.