Here’s a first, a company moving away from mobile content…”Robert Pons, President and CEO of SmartServ commented, “As we enter 2005, we continue our bold agenda to transform the company. Revenues for the first quarter of 2005 were $11,494,000 compared to $74,000 for the same period last year. On January 7, 2005, we completed the acquisition of KPCCD, Inc. and the increase in revenues was attributable to the acquisition. We recently restructured the company to reflect a shift from mobile content distribution to the launch of UPHONIA, an MVNO-based prepaid wireless brand that uses the enhanced Sprint Nationwide PCS Network. UPHONIA is the first prepaid wireless service that bundles discounted international calling with domestic dialing for a low, flat rate. We also recently launched the Uphonia.com Mobile Content Superstore and recently introduced the UPHONIA World Card.” Well, it still sells content, of course…the company made a loss of $3,589,000.
SmartServ has also terminated discussions to acquire Telco Group and its affiliates. “In November 2004, the company had signed a non-binding letter of intent with Telco Group. SmartServ and Telco Group continue to discuss strategic business relationships.”
Related stories:
–SmartServ acquires prepaid provider Telco Group
–SmartServ Retains Jefferies to Explore Strategic Growth Options
–SmartServ’s Revenues Fall
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