The CEO of the company that bought VPNSecure in 2023 and claimed that he does not know that the VPN service provider has previously sold life subscriptions to him.
Earlier this week, Ars Technica was reported on VPNSECURE to cancel thousands of subscriptions for life, starting from March. In an e -mail message to customers, VPNSecure said he could not maintain subscriptions and that the current owners, Infinitequant Ltd, was not informed of the subscriptions when buying VPNSECure. The sudden abolition of accounts of the accounts led to a violent reaction on the Internet, including, until the writing TrustPilot.
“… perhaps, frankly, we should have just walked about this” opportunity “, Roman Brabant, CEO of Infinitequant Ltd, told Ars Technica when asked whether he would deal with things differently after it is too late.
The decision to cancel the activation of subscriptions is also explained for life and “never”, according to communications to customers, made VPNSecure subscriptions for life available again, and Prabant said that after buying VPNSECURE, Infinitequant Ltd flag that 90 percent of the server’s use came from customers who have subscriptions in life. He said that at the time of purchase, “VPNSecure was born about $ 6000 a month of repeated revenue with $ 4000 a month at hosting costs.”
The CEO has pointed to the high costs of VPN ownership, including the time of the fixed server operation, the frequency range costs, safety corrections, protocol updates, and daily support.
Brabant claimed that more than 90 percent of VPNSecure’s lifelong subscribers have prompted more than 10 years ago, adding:
There is no sustainable way to support the base of users inherited from thousands who have been paid once, for a long time, through a different company – especially without VC money or external financing.
Brabant said this seller is Boostnetwork Pty Ltd in Australia. There is limited information about the entity online; However, the Infinitequant Ltd says it has bought VPNSecure by selling assets only on FlipPa in May 2023. Flippa menu show an estimated evaluation of $ 282,090-344,770 dollars.
