What's Happening?
Gigabit IQ, a UK-based internet service provider, has launched a crowdfunding campaign to raise £270,000. The funds are intended to support the company's expansion efforts. Gigabit IQ, which combines full-fibre connectivity with safety and device-protection services, is offering 5.12% equity to new investors. The company has already secured £243,650 from 40 investors. With a pre-money valuation of £5 million, Gigabit IQ aims to reach 1.5 million homes through partnerships with wholesale networks like Full Fibre and F&W Networks. The crowdfunding initiative reflects the company's community-centered approach to broadband services.
Why It's Important?
The crowdfunding effort by Gigabit IQ highlights a growing trend among ISPs to leverage community investment to fund expansion.
This approach not only democratizes investment opportunities but also aligns with the increasing demand for reliable and secure internet services. As more households require robust connectivity for remote work and online education, ISPs like Gigabit IQ are positioned to meet these needs. The success of this campaign could set a precedent for other ISPs seeking alternative funding methods, potentially influencing the broader telecommunications industry.
