PowerTech Information Systems: Difference between revisions

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'''PowerTech Information Systems AS''' is a [[Norway|Norwegian]], [[Oslo]]-based [[Internet service provider]] founded in 1993.

PowerTech was founded in fall 1993 in tiny quarters in Storgata, Oslo, by teenagers Øystein Homelien, Lars Nøring, Harald Paulsen, and Henry Dramstad. They had dropped out of school and were all still minors; Nøring's father became chairman of the company for legal reasons.<ref name=Nerder>Gunhild M. Haugnes, [http://www.aftenposten.no/digital/nyheter/Nerder-med-ni-liv-6517272.html#.T4xNquRk7-o "Nerder med ni liv: Tidlig på 90-tallet droppet fire unge tenåringer skolen for å skape sitt eget IT-eventyr. Og etter ti vellykkede år i tidenes mest turbulente bransje peker pilene fortsatt i været for de unge gründerne i Powertech,"] ''[[Aftenposten]]'' January 26, 2003 {{no icon}}</ref> In an interview with ''[[Aftenposten]]'' in 1994, they said "their biggest dream was to give the Internet to the people."<ref name=Nerder/> They initially provided internet service only to individuals, but later changed their focus to small- to mid-sized companies; they now primarily provide commercial broadband and hosting services, mainly to companies in Oslo and [[Akershus]].<ref name=E24>Magnus A. Koren and Sverre Rørvik Nilsen, [http://e24.no/it/satset-paa-internett-i-1994/3929390 "Satset på internett i 1994: Oslo-selskapet Powertech, som tilbyr bredbåndstilgang og hosting-tjenester, omsatte for 81 millioner i 2009. De da mindreårige gründerne ble intervjuet av Tande P allerede i 1994,"] [[E24 Næringsliv]], January 12, 2010 {{no icon}}</ref> Initially, the founders drew only minimal salaries from the company, and in 1996/97 the company had to take a large charge to replace equipment. In 2003, three of the founders were still with the company, which had an annual turnoverrevenues of approximately 30 million [[Norwegian krone|krone]]r and had received outside investment of some four million kroner, but was still 50% owned by the four founders and their families.<ref name=Nerder/> In 2009, revenues were approximately 81 million kroner.<ref name=E24/>

PowerTech's original rival was OsloNett, which was started by [[Information technology|IT]] professionals from the [[University of Oslo]] and was later acquired by [[Telenor]]. Numerous other ISPs appeared in Norway in 1996/97, most of which no longer exist.<ref name=Nerder/> The company was part owner with ''[[Dagbladet]]'' of the internet portal Start.no,<ref name=Nerder/><ref>Sverre Rørvik Nilsen, [http://www.hegnar.no/it/article301287.ece "Nettportalen taper penger: Dagbladet-eide Start.no klarte ikke å levere positive resultater for 2007,"] Hegnar Online, April 8, 2008 {{no icon}}</ref> which is now the [[Start Network]].

==References==