Feeds

Totalise tantalises with share give-away offer

Users get stake in free ISP company

  • alert
  • submit to reddit

Build a business case: developing custom apps

A copycat ISP launched on Ofex yesterday wants to lure new users to its subscription-free Net service with the promise of a (carpet) bagful of shares in return. Totalise said it will initially offer up to 250 free shares to users who sign up for the service although it anticipates that users could end up with an average of 3500 shares each if they play their cards right. The plan is to give Net users a 67 per cent stake in the company. The company has already raised £840,000 to help it fund the new service. Users must agree to their details being made available to other companies otherwise no shares will be forthcoming. Fifty shares are handed over on registration with another 200 up for grabs if you clock up an average of 100 minutes per month online with Totalise in your first three months. "We will be the first independent ISP to give free tradable shares to its users," said Totalise chief executive Peter Gregory. "We have committed to a share structure which is totally clear and will shortly give users control of the company through their majority holding of the ordinary shares," he said. Totalise's model is similar to Themutual.net which announced last month it would hand out shares to users of its subscription-free service. The difference appears to be that shares in Totalise can be traded immediately, whereas stakeholders in Themutual.net would have to wait until the service is sold before they can redeem their investment. Cheshire-based ISP Telinco is to provide the technology infrastructure for Totalise. It also supports Themutual.net and CurrantBun.com, among others. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
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.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.