We mentioned Xero Mobile here a couple of weeks ago, about the fact that it raised close to $300 million in funding. Now comes the news that it is backed by a number of executives who were involved with Gizmondo Europe, the failed handheld computer games company.
Peter Lilley, who headed up Gizmondo’s Smart Adds business unit, David Levett who was formerly chief software architect at Gizmondo, and Rich Clayton, US producer for Gizmondo, are involved in the LA-based MVNO.
Xero is planning to give users free airtime in return for viewing a certain number of ad on their handsets. Initially aimed at the college student market, Xero is aiming to have 5 million customers and break even in the first year after launch. It hopes to achieve annualEBITDA of $1.8 billion by the end of its third year of operation, says this FT story.
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