Feeds

ISP hopes to woo users with share option offer

Carpetbaggers expected to sign up in droves

  • alert
  • submit to reddit

Next gen security for virtualised datacentres

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?