Company gets increased investment, projects subscriber jumps
Information provider Scoot.com (quote: SCO) says it will be able to substantially boost subscriber figures after France's Vivendi promised to increase its investment.
Scoot, which provides listings via mobile phones, Web sites and other media, predicted Monday it will be able to more than triple subscriber numbers from the current 19,000 to 60,000 by the end of 2000. By the end of 2002 the company looks to have 200,000 subscribers.
Vivendi said it will increase its investment in Scoot to £110m over three years and secure an option to increase its shareholding to as much as 15.6 percent at a later date. Vivendi holds a wide variety of communications assets, including stakes in BSkyB and France's Canal Plus.
Scoot CEO Robert Bonnier said the company's targets are based on the introduction of new technology such as Web-enabled mobile phones, as well as the alliance with Vivendi, which should improve Scoot's brand recognition.
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