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Freei

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Freei Networks, Inc.
Company typePublic
Nasdaq: FREI[1]
IndustryOnline Internet service provider
FoundedDecember 1998; 26 years ago (1998-12)
FounderRobert McCausland
DefunctOctober 2000 (2000-10)
FateBankruptcy
HeadquartersFederal Way, Washington United States
Area served
United States
Key people
Bob McCausland (CEO)
Naveen Jain (director)
ServicesFree Internet Access
Number of employees
365

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

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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

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

Bankruptcy

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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

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  1. ^ "SEC".
  2. ^ Freei.Net Offers Comprehensive New Portal Featuring Services From InfoSpace.com, Business Wire, January 17, 2000
  3. ^ "SEC". www.sec.gov.
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