Feeds

ISP hopes to woo users with share option offer

Carpetbaggers expected to sign up in droves

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.