iiNet founder Michael Malone to join Yatango board

Will be joined by Virgin Mobile UK founder and the founder of ActewAGL

iiNet's founder and former CEO, Michael Malone

iiNet's founder and former CEO, Michael Malone

Michel Malone, the founder of Internet service provider iiNet, is slated for a seat on the board of Yatango, the company announced this morning.

Yatango was established in 2013 as telecommunications reseller that allowed customers to customise their call and data packages. The company later expanded to incorporate a member-based shopping site called Yatango Shopping.

The appointment of Malone, who is also a former iiNet CEO, is subject to shareholder approval.

Malone will be joined by Virgin Mobile UK founder Tom Alexander and John Mackay, who founded telco and utility reseller ActewAGL, Yatango announced.

The appointments come ahead of a move by Yatango to list on the ASX.

The company, whose telco arm Yatango Mobile is a mobile virtual network operator (MVNO) that uses the Optus network, revealed earlier this year it would seek to list on the exchange, hoping to raise $6 million.

"We are delighted to have such high profile and successful directors join our board," Yatango's CEO, Andy Taylor, said today in a statement.

"The appointments signify the immense opportunity we have to position ourselves as a leading global player in the industry, and demonstrates a strong validation of our business model and growth trajectory."

Malone said that Yatango's business model was "dynamic and innovative".

Read more: ISPs left with bill after Dallas Buyers Club court clash

The ISP Malone found is currently in the process of being acquired by TPG.

Malone left iiNet in March last year after an extended sabbatical.

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