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Sunday, August 23, 2009

SpinVox losses up 30%, says Sunday Times

The Sunday Times says it’s been shown the 2008 unaudited accounts for voice-to-text service SpinVox. Its report says the group’s pre-tax loss was £49 million, over 30% more than its £37 million loss in 2007. The newspaper also reminds its readers that SpinVox raised £15 million from shareholders earlier this month, raised £50 million at the beginning of 2008 and is due to repay a £30 million bridging loan at the end of this year.

It’s the latest in a series of unwelcome headlines for the UK company, which has seen recent media focus shift from its technology to its finances.

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Author: The Fonecast
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