Themutual.net kicks off share giveaway

The latest in the flock of free ISP's, Themutual.net, went live today. This company's gimmick is that it is actually a co-operative, and is giving free shares away to early sign-ups. The first 10,000 customers are in line to receive 10,000 shares each. The company says that these will be worth around £520 in total. The next 100,000 to put their names down will get 1,000 shares each, worth a total of £52, according to Themutual. This incentive is a big play on the current popularity of Internet companies, and the perceived value of shares. Themutual.net could say the shares are worth whatever it likes, but until the company is actually floated, it doesn't really mean anything. Clive Sinclair-Poulton, chairman of the Themutual.net, said: "Registrations have been coming in at nearly 2,500 per day and if uptake continues at this rate, a 10,000 unit-holding will be worth considerably more than £520." ®