Clearwire gets ready for IPO

Kirkland, Washington based Clearwire is getting ready for the pay day for its WiMax based network. The company is hoping to raise between $460 million to $500 million from 20 million shares offered at $23 to $25 per share. It was only last year that Clearwire had raised $900 million from Intel and Motorola. On the whole Clearwire has raised $1.54 billion till date from its investors, and yet to make any profit from the costly network buildout. Clearwire fixed WiMax service is mainly available on the West cost in addition to NC, Alaska, Hawaii, MN, WI, and TX.

As for competitors, Sprint has been working on building out its own WiMax network and plans to launch its broadband services in initial markets by year-end 2007. Spring is expected to spend more than $3 billion on the project and has backing from the same investors – Intel and Motorola.

Related:
Clearwire launches WiMax service in Seattle area
Aha! WiMax for North-East
Sparkplug – WiMax provider scores $22.5 million

Advertisements

One Response to “Clearwire gets ready for IPO”

  1. Chocolate Truffles Says:

    most broadband services are crappy, they can’t maintain high data transfer rates ,..

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: