Helio Gets Big Investment Boost; Predicts 200K Subs by Year End
Tweet9/21/07 – Westwood-based Helio, the mobile virtual network operator backed by Atlanta-based EarthLink and South Korea’s SK Telecom, will get further investment up to $270 million from the Korean firm.
The investment answers significant questions about Helio’s viability in the short term, as the company recently laid off about 100 employees, and EarthLink cut almost half its staff and indicted it was cutting costs and investments.
Helio says it ended August with 130,000 subscribers, and expects to end the year with between 200,000 and 250,000 subscribers and revenue of $140-to-$170 million. The company says it expects a full-year net loss of $340-to-$360 million.
Helio was founded in 2005 and is headed by EarthLink founder Sky Dayton.
Helio – www.helio.com
