| Type | Private |
|---|---|
| Industry | Teleconferencing |
| Founded | 2004 |
| Headquarters | London, UK |
| Key people | CEO Andrew Pearce, CEO Paul Lees |
| Products | Conference Calls and Web Conferencing |
| Website | www.powwownow.co.uk |
Powwownow is a British company and is the leading free provider teleconferencing provider in the UK. The company was founded by Andrew Pearce and Paul Lees and now operates in 15 countries worldwide including the USA, Canada, South Africa and Central Europe. Annual turnover is 7 million Pound Sterling (2010).
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The company was founded in 2004 by Andrew Pearce and Paul Lees offering low-cost conference calling facilities with the ethos of no booking, no billing and no fuss. No conference room needs to be booked and the customer never receives a bill, they only pay for the cost of their own phone call which is added to their standard telecoms bill.
In February 2009 Powwownow became a Telco in their own right[1][2] due to Ofcom's decision to remove the rebate payable to the telecoms suppliers from the 0870 numbers.[3]
Powwownow's original business model involved using the 0870 number range and receiving a rebate for every minute made on their conference lines.
With the loss of the 0870 numbers Powwownow faced losing 90% of their revenue. By becoming a telco it meant Powwownow would receive the entire rebate available on the 0844 numbers and maintain their current revenue whilst keeping the service free.
Powwownow offers three main services, differentiated by their level of access to conference calling features and benefits.
In July 2010, Powwownow announced it had acquired a majority share in Liverpool-based web conferencing and collaboration company Yuuguu.[4][5] Powwownow paid an undisclosed fee for a 70% share.