Feeds

365IPO

Shoots up non-Net revenue streams

  • alert
  • submit to reddit

Remote control for virtualized desktops

365 Corporation has confirmed its intention to IPO on the London Stock Exchange. Blue-blood broker Cazenove is to be joint lead bookrunner alongside Durlacher, the niche investment bank which has re-invented itself as successful Internet upstart. No market cap figures have be mentioned yet, but we suspect 365 will be in the £300m+ category. Not bad for a company that began trading only in September 1997. 365 serves up a very British tabloid diet of sport, ents and dating and agony aunts - hang on this is beginning to sound more like a student union. It calls its channels - publications and it pumps out content by email and phone as well as over the Internet. For the three months to 30 June 1999, 365 generated sales of £4.4 million and operating profit before interest, taxation and amortisation of goodwill of £277K. It has operations in five countries - the UK, France, Ireland, South Africa and - curiously - Chile. Its heavyweight management team, and 190 employees generating 750,000 unique users generating more than 8.5 million user sessions in September. Sounds promising for a new Internet company -- real revenues and profit too (even if that has been achieved with smoke and mirrors). But what do these user figures actually mean? Where are the page impression? Without separating Web use, from email and telco use, these figures have little meaning. And it also sounds like 365 is not a "pure" Net company. It generates revenues from contract publishing deals for other Web sites - and this revenue stream should be judged purely in the way off-line contract publishers are rated. Contracts come and contracts go, and there is nothing intrinsically Internet about them. Also, the company shored up its revenue streams in 1999 with the acquisition of a small telco company - Symphony Telecommunications plc. Presumably, this forms a key part of 365's Business Division and its 2,000 small and medium business customers. 365's Business Division provides communication services and Internet applications in the UK and Ireland. In other words, its an IP telephony company with computer reseller services attached - and a very small one at that. 365 is stitching together national coverage with 11 telecoms systems dealers across the UK, thereby saving costs, but also pooling revenues. Aside from cash flow, we can not see what part 365's telco operations have to play in an Internet content company. ® Check it out for yourself at 365corp.com

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
Right to be forgotten should apply to Google.com too: EU
And hey - no need to tell the website you've de-listed. That'll make it easier ...
prev story

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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.
Protecting against web application threats using SSL
SSL encryption can protect server‐to‐server communications, client devices, cloud resources, and other endpoints in order to help prevent the risk of data loss and losing customer trust.