TheMutual.net repositions as e-mail marketing agent

TheMutual.net, an Internet service provider and website community which gave users free shares when they signed up, is to reposition itself as an e-mail marketing specialist.

Keeping the concept of free shares, TheMutual will reward its 225,000 opt-in subscribers for every piece of third-party e-mail direct marketing they open. The company promises 50 “bonus shares” for each e-mail.

But the company’s share price (on the Alternative Investment Market) stands at a tiny fraction of one pence. Outside investors have not been impressed by its business model, and since launching on Aim almost a year ago, TheMutual’s share price has plummeted.

The company’s customer database was swelled substantially last December when it bought the names and addresses of financial website TheStreet.co.uk, whose US parent pulled the plug.

An e-mail to TheMutual.net users says: “We will be sending you special offers from advertisers by e-mail in areas related to your declared interests. This is a great way to get special offers that are meaningful to you, delivered to your in-box. Every e-mail that we send you will contain a prominent unsubscribe link.”

TheMutual’s main rival, Totalise, has also seen its Aim-listed shares marked down heavily since the start of the year.