EarthLink: No More Money for Helio « GigaOM
Posted by todd Sat, 27 Oct 2007 18:53:00 GMT
EarthLink: No More Money for Helio « GigaOM
Well, If you are a Helio customer, you might want to get ready. Things are going to get hairy.
"EarthLink will not be required to participate in future funding rounds [in Helio], and will retain a meaningful ownership stake. The definitive amended joint venture agreements are expected to be finalized in the near future."
If Earthlink is out, and the company burned 92.3 million on 51.7 in revenues in the last quarter including a 30 million dollar loan from Earthlink.... well, they might want to get on it.
SK Telecom agreed to "up to" 270MM more, likely giving them 6-9 months runway without a significant change.
I'm not a fan of MVNO's in general, but good luck anyways.
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