Wikipedia founder Jimmy Wales picks IPO route for mobile business

Mobile phone contract business The People's Operator has outlined plans to join the London Stock Exchange and use funds raise to continue development.

The People’s Operator (TPO) is set to list on the Alternative Investment Market (AIM) two years after founding, with an objective of being an ethical phone company.

Based in London, TPO provides monthly and pay-as-you-go mobile phone contracts, which are described as ‘competitively priced compared to peers’. On top of that, 10 per cent of the contact fee can be donated to a chosen cause at no added cost, with the TPO Foundation receiving 25 per cent of TPO’s UK trading profits.

In listing, TPO believes that the funding and public market presence will support the company’s growth through strengthening public profile and financial status.

Market penetration will be achieved by using a new online global community devised by Wikipedia founder Jimmy Wales, bringing together TPO and community organisations.

Wales, executive director of strategy and digital community at TPO, declares that TPO plans on becoming the first international mobile operator which has successfully built a ‘global customer base’ via online communities and viral networking.

‘We are pleased to have recently signed an operating agreement with Sprint, one of the largest network operators in the United States,’ he adds.

‘This gives TPO a platform from which to start creating global online communities and an important first mover advantage in a large market that offers significant potential to accelerate the growth of our business.’

Recently released figures show that TPO has approximately 10,000 subscribers, a number that has grown from 5,800 in June 2014, and pockets an average revenue per subscriber of £11 for pay-as-you-go and £17 for pay monthly customers.

The admission to AIM is expected to occur in November, ahead of the launch of a US TPO foundation in 2015. TPO has not revealed how much it plans to raise as part of the IPO.

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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