The company, founded by former BBC Radio 1 DJ Peter Powell, has been unable to raise more money having spent its way through £13m since it was launched.
The company famously paid £5m to become the first sponsor of the Top 40 music charts.
Worldpop had already scaled back its operations. It launched as a pop music news portal for teenagers and has repositioned itself as a youth marketing company.
Earlier this year, Worldpop raised a further £5m in its second round of funding and bought direct marketing company Trinity Street Direct.
The acquisition was designed to strengthen Worldpop's growing marketing and audience research business.
It had already been hit by the departure of its founders and senior directors. Powell stepped down from his chairman's post earlier this year to become vice-chairman. Charles Levison, the deputy chairman of media group Chrysalis, took his place. In August, it lost its managing director Liam Hamilton, the former managing director of London Weekend Television.
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