Wednesday, May 19, 2004

WSJ.com - Cometa Shutters Wi-Fi Operations After Failing to Raise More Funds

WSJ.com - Cometa Shutters Wi-Fi Operations After Failing to Raise More Funds "The wireless "hot spot" market got a little cooler, as Cometa Networks Inc., a high-profile start-up that once planned to deploy a nationwide wireless Internet network based on Wi-Fi technology, declared plans to shut down.
Closely held Cometa of Schaumburg, Ill., which had attracted the backing of Intel Corp., AT&T Corp., International Business Machines Corp. and other investors, said it decided to suspend operations after failing to raise "substantial" additional capital from its investors to expand its wireless network beyond the locations, dubbed hot spots, that it currently operates in the Seattle area. Cometa had offered high-speed wireless inside Barnes & Noble Bookstores, Tully's Coffee Shopps and other public locations around Seattle.
...
Adding to the pressure on commercial wireless networks is the decision by some public venues to offer Wi-Fi service as a free amenity, like air-conditioning."
Post a Comment