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back to article Telefonica chooses stable of young ones to make it money in London

Telefonica's desks-for-shareholding deal, Wayra, has picked the lucky sixteen startups who'll benefit from central London office space, logistics support and business development, in exchange for percentage holding in the resulting business. In exchange for ten per cent of the company the selected sixteen get get an average …

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  1. Anonymous Coward
    Anonymous Coward

    Reminds us of

    Fame Academy, we sell you for a year, if we get no return (David Sneddon, Alex Parks ) then the door is that way.

    And remember walsh's advice, never sign for Pete Waterman, he makes money, sign for me as i need the money to fund another boy band

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  2. frank ly

    Really?

    "The old economy, that is familiar to many of us, is disintegrating ..."

    So, no more food growing and manufacture, no more clothes, no more houses and cars. no more civil infrastructure. No more bankers ... woo hoo! Takes my clothes off, turns on my laptop and awaits the rapture.

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  3. Hieronymus Howerd

    Let me see.

    EUR50,000 in real money is about 40k at the moment. That's for 10% of your company.

    I would say that if any of these companies has a genuinely strong business case, they're vastly undervaluing their future. That said, having scanned the list of winners, I'm not sure that's an issue.

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  4. Thesheep

    Kodacell Lite (TM)

    Could it be that a fading industrial giant whose business model is collapsing is trying to follow in the footsteps of el Doctorow?

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  5. Camilla Smythe

    Ooooooo

    Would this be the same Telefonica that is trying to impose Kent Ertugruls shagnasty called Phorm, AKA 'Navegador' on 'Speedy' customers in Brasil?

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