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Clearwire gives up its numbers in exchange for market dollars: The latest Craig McCaw-led company likely to become a billion-dollar operation is Clearwire, a provide of broadband wireless using equipment from its acquired subsidiary NextNet Wireless. The company has received over $1b in financing over several years, resulting in deployment in 27 markets in the US, plus Belgium and Ireland. Their IPO filing shows 88,000 US subscribers and 11,500 in Belgium and Ireland. It lost $140m on revenues of $33.5m last year, but might need to spend billions to provide national service.
Clearwire owns the second largest position in the 2.5 GHz BRS band; Sprint Nextel was number one, and remember who turned Nextel into a powerhouse, partly because of clever spectrum acquisition and usage? Om Malik notes that Sprint Nextel and Clearwire have been swapping licenses to produce better national coverage for each. The Seattle Times notes that the IPO filing says Clearwire could “pass” 90m users based on its spectrum holdings.
Read their Form S-1 for all the details.
Posted by Glennf at May 12, 2006 10:23 AM