Two years and half billion later, Helio sells for a song. But why?
Written by admin on Friday, June 27th, 2008 in Gadgets and Devices.
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by Ryan Block, posted Jun 27th 2008 at 2:54PM Money-losing companies with interesting technology and a small, if rabid, customer base still frequently tend to sell for healthy chunks of change — especially in the wireless space. We know Helio was burning cash like crazy, but that doesn’t entirely explain why SK Telecom was so absurdly desperate to dump their $500m investment. At a $39m acquisition price, SK didn’t just lose its shirt — it lost that, the shoes, and then the pants. You know, the pants with a half-billion dollars in them.Now, if you look at nothing other than the price per subscriber of some other, larger mobile acquisitions, Helio’s numbers seem even crazier. (Read the full post about ‘Two years and half billion later, Helio sells for a song. But why?’…)
