Freei

Freei Networks, Inc. (also known as Freei.net, FreeInternet.com) was a free internet service provider from 1998-2000. In 2000, FreeInternet.com was acquired by United Online, Inc. (owner of NetZero, Juno, Classmates.com and others). In 2008, United Online re-launched FreeInternet.com as a Web site dedicated to free and discounted retail offers.

Services

Freei provided a free alternative ISP, allowing users to anonymously log on to the internet using the Freei software and dialer. It reached over 2 million registered users nationally by 1999, and 3.2 million by the summer of 2000. In lieu of a subscription fee, the software displayed ads on the user's computer.^[2]

IPO filing

Freei filed for an IPO on March 31, 2000. It went public on the Nasdaq under ticker symbol FREI.^[3]

Bankruptcy

On October 9, 2000, Freei filed for bankruptcy after laying off 30% of its workforce. One week later, on October 16, 2000, the rest of the workforce was laid off and the corporate headquarters in Federal Way, Washington was permanently closed. In early November 2000, Freei's remaining assets were sold at auction.

References

External links

• Freei.Net Goes Nationwide: http://www.internetnews.com/isp-news/article.php/216381/FreeiNet+Goes+Nationwide.htm
• Freei Files IPO: https://www.wsj.com/articles/SB954783493838149693 http://www.nasdaq.com/markets/ipos/company/freei-networks-inc-74808-2425
• Freei Acquired by United Online: https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=94399
• Mark Stevens, Sequoia Capital; Freei Director: https://www.bloomberg.com/research/stocks/private/person.asp?personId=75159&privcapId=223006296