Feeds

ISP hopes to woo users with share option offer

Carpetbaggers expected to sign up in droves

  • alert
  • submit to reddit

Bridging the IT gap between rising business demands and ageing tools

A group of London financiers has developed a risk-free way of cashing-in on the success of Net shares by promising to give its users a stake in its ISP when it starts operating next month. Themutual.net is the UK's newest subscription-free ISP and plans to "seize the lion's share of the ISP market, toppling giants like Dixon's Freeserve". The ISP is offering 50 per cent of themutual.net to its customers by issuing 2.1 billion units, each convertible to a share, on a first-come-first-served basis. Cheshire-based Telinco will provide the network infrastructure for the service. Customers will be able to realise the value of their equity if the company is sold or floated in the future. With its Net users doubling up as shareholders, the brains behind this new service believe it will help create a set of loyal users that will help build the ISP into a powerful brand. It's a new spin to an old idea but it does leave themutual.net open to carpetbaggers who may just register their interest in the hope of a future pay out. Clive Poulton-Sinclair, executive chairman of the themutual.net, said: "We've borrowed the age-old concept of a co-operative and applied it to the very latest technology business. "It is a simple formula: our customers help us make money and we help them do the same." The company aims to recruit 100,000 customers by the time it launches in July and is not shy about it prospects. "We are going to turn the industry on its head," said City veteran Poulton-Sinclair. "Less than a year ago, people were paying ISPs around £15 a month just to buy a service. "We charge nothing and let our people share in our success. It is a partnership that creates value," he said. Today's announcement by themutual.net coincides with the launch of MSN's new subscription-free service. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.