Jazztel, the second largest publicly traded Telecom operator in Spain that I founded in 1999 has recently turned cash flow positive. It was a long struggle but it finally happened. And growth was significant with 140K new customers for ’08 to a total of around 375K by year-end 2008, and revenues of 350 million euros. Moreover for ’09 Jazztel expects revenue to grow to 450 million euros and EBITDA to grow from 6 million to 40 million. It seems that not all news is bad in times of crisis as customers are looking more and more for better Telco offers and Jazztel has one that consumers in Spain like. Other than congratulating the management team led by Jose Miguel Garcia that achieved these results, I would like to mention a key part of Jazztel´s new strategy is a new focus on uploading. When I used to run Jazztel, everything was about downloading speeds but with the rise of the social web activity now is all about communities and sharing and uploading has become particularly important. Anexo M, Jazztel´s new offer provides up to 20MB of download speeds and an impressive 2.5MB of uploading speed. So Jazztel has made it its objective to the the fastest operator with whom to upload pictures or videos and this offer is being very well received over here.

Disclosure: I do not own Jazztel shares or bonds.

Follow Martin Varsavsky on Twitter: twitter.com/martinvars

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