Nicholas Merrill’s crowd-funded Internet Service Provider raised more than $43,000 in donations in less than 24 hours, CNET reported on Thursday. “I had no idea that the crowd funding would take off as much as it has in such a short time,” Merrill told the news source. “I hope that people will continue to spread the word and help Calyx reach its funding goal so this plan can come to fruition sooner rather than later.” Merrill’s new company, The Calyx Institute, aims to be a “non-profit telecommunications provider dedicated to privacy, using ubiquitous encryption,” and intends to sell Internet access for as little as $20 per month. The company is seeking $1 million in donation-based funding for a “bare-bones launch,” or $2 million in funding for a faster launch. “I am grateful for the outpouring of support which I think clearly demonstrates that there is a vast public demand for privacy-conscious telecommunications companies,” Merrill concluded. More →
Clearwire announced recently that it has garnered another $734 million in funding after closing its public offering of Class A common stock at $2.00 per share. The public offering earned Clearwire $384.1 million after commissions, and it pulled in an additional $331.4 million selling Class B shares to Sprint. “This equity raise is a critical step for Clearwire to achieve its long-term business plan of creating the first wide-channel TDD-LTE 4G network in the U.S.,” president and CEO of Clearwire Erik Prusch said. “The added resources will enable us to continue delivering 4G mobile broadband service to meet the rapidly growing demand in the industry. We remain ideally and uniquely positioned to serve both wholesale and retail customers well into the future.” Read on for more. More →
AllThingsD is reporting that microblog Twitter has just completed a final round of investor funding. “Sources familiar with the situation” told the publication that the San Francisco based company raised over $200 million on a $3.7 billion valuation; an assertion Twitter later confirmed. The top investor was firm Kleiner Perkins Caufield & Byers, who the report notes was the “only new investor in the latest round”. Twitter, unlike Facebook, has yet to come up with a concrete and clear model for monetization, but does have a plethora of users and… a larger pile of cash to work with. More →
The Wall Street Journal is reporting that three sprint executives — Dan Hesse, Keith Cowan, and Steven Elfman — have resigned from WiMAX network-operator Clearwire’s board. Sprint informed the WSJ that they would appoint “independent successor directors” within the next few months; Sprint has named its general counsel, Charles Wunsch, as an observer in the meantime. Clearwire writes that the resignations are due to “recent changes in antitrust laws,” but also admit that the move could provide the company with “added flexibility” in pursuing additional funding. Sprint is the majority owner of Clearwire, holding a 54% position. More →
Yesterday, social networking site foursquare announced that it had successfully secured an additional $20 million in series B venture capital funding from: Union Square Ventures, O’Reilly AlphaTech Ventures and Andreessen Horowitz. Foursquare, explains exactly what the VC will be used for:
With this new round of financing, our main priority will be to expand our organization to supplement the amazing core team we’ve assembled already. […] We’re hoping to build a world-class engineering organization, based primarily in our headquarters in the New York City to help us develop the next generation of mobile + social + local products that will excite our users and provide unique value for local merchants.
Currently, foursquare has over 2 million users who voluntarily “check-in” to restaurants, bars, shops, and other locations via their mobile device, earning badges and titles along the way. How many of you out there 4sq? More →