EarthLink, which has been struggling with its investments in muni-WiFi and MVNO Helio, has indicated it won't invest anymore in Helio for now and revealed that partner SK Telecom will invest an additional $270 million in the MVNO.
Helio, founded in 2005 and launched last year, is spending a lot of cash as it ramps up operations. It is expected to lose between $340 million and $360 million this year, according to EarthLink. Last month to ISP let go 900 employees amid steep losses in the second quarter.
For more about SK Telecom's additional investment:
- read this article from IDG News Service