Helio gets another cash infusion from SK Telecom and Earthlink
By Will Park on Thursday, July 5th, 2007 at 1:25 PM PST In Announcements, Helio, Partnerships
Since Helio won’t be getting any revenue from the YouTube application, Video Virus, that was recently offered free-of-charge, the MVNO is going to need another influx of cash. It’s a good thing SK Telecom (NYSE: SKM) and Earthlink just dropped a $200 million care packaged in Helio’s lap. Reuters is reporting that the green-behind-the-ears MVNO has spent their initial $440 million in funding and requested, like so many college students, that parents SK Telecom and Earthlink “send more money.” SK Telecom and Earthlink are each planning to pass a $100 million check to Helio – a healthy sum indeed.
We’re sure Amp’d Mobile is a different kind of green right now. Green with envy. While fellow MVNO Helio is raking in cash allowances like some high-society trust-fund baby, Amp’d Mobile is asking for permission to borrow money from Verizon (NYSE: VZ).
[Via: Reuters]
