Helio gets $100 million - SK Telecom infusing them to assist with losses

Sky Dayton, EarthLink founder, lauched Helio back in 2006.  Recent reports for Helio are grim - a $192 million loss last year. SK Telecom, South Korean is an investor in the deal.  They too are forecasting losses of around $330 million to $360 million in 2007.  The SK president Kim Shin-bae still believes that the venture will turn a profit by 2008 closing. Their hopes and all bets are on their projected subscribers totalling 200,000 by the end of 2007.

 

To assist Helio in the mid-term, the South Korean mobile operator SK Telecom, is providing cash flow in the tune of $100 million addional investment dollars.  Note that nothing is final - but it is reported by SK that EarthLink would match the investment to maintain its stake in this venture with Helio.