Feeds

Phorm gets £15m lifeline

Phew!

Top three mobile application threats

Phorm has today raised a £15m war chest by selling almost a fifth of itself to institutional investors at less than a quarter of its price last year.

It'll use the cash to cover its operating costs while ISPs continue to mull its web monitoring and profiling system.

The firm sold 3.3 million shares at £4.50 each. It has been expected that Phorm would need new capital, as it has continued to trade and employ about 140 staff without any revenues.

BT has yet to commit to a schedule to roll out Phorm's "WebWise" advertising system, following major controversy over secret trials conducted in 2006 and 2007. Its other UK ISP partners, Virgin Media and Talk Talk, are yet to conduct any customer trials.

The last time Phorm issued new equity, in March last year, it sold at £20 per share, raising £32m. Today's sale of almost 20 per cent of the company values the firm at about £75m.

Phorm's full year financial results, expected to reveal it has spent most of the capital it raised last year in the last 12 months, are due out on June 18. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.