IoT
IoT
Business & Finance
News
3/9/2007
04:55 PM
Connect Directly
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%
RELATED EVENTS
Stop Cyber Attacks with Threat Intelligence
Aug 30, 2016
In this informative webinar on August 30th you will hear security experts discuss practical ways t ...Read More>>

Brief: Clearwire Raises $600 Million In IPO

The company will be one of the first to test mobile Wimax in the United States.

Clearwire raised $600 million last week in an initial public stock offering. Now would it get on with changing Internet access as we know it?

McCaw's betting on WiMax -- Photo by Neal Hamberg/Bloomberg News/Landov

McCaw's betting on WiMax

Photo by Neal Hamberg/Bloomberg News/Landov
Clearwire, along with Sprint Nextel, will show whether mobile WiMax is commercially viable for the U.S. Internet access market. As of November, the company had 188,000 subscribers--about a 2% share--of 34 U.S. markets where it offers "pre-WiMax" technology, which provides broadband connections wirelessly to toaster-sized receivers in people's homes. But its big bet is mobile WiMax, which promises faster connections than cellular for PCs, phones, and other devices on the go. Sprint Nextel has committed $3 billion to implement mobile WiMax.

Clearwire--whose founder, Craig McCaw, still owns 49% of voting stock--raised $900 million from Intel and Motorola last summer, has borrowed $755 million since August 2005 and run up a $458 million cumulative loss. Last week, its shares were trading about 10% below the offering price. Tech-driven revolutions aren't getting any cheaper or easier.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Register for InformationWeek Newsletters
White Papers
Current Issue
Top IT Trends to Watch in Financial Services
IT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on InformationWeek.com for the week of August 14, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.