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February 06, 2006
Sequoia, Google, Index Ventures back Varsavsky's FON
FON has just raised €18mln from a syndicate of investors that include two heavyweight corporates, Skype and Google, as well as two blue chip VCs, Sequoia and Index Ventures. It is the latest alternative telco venture from Martin Varsavsky. We've mentioned it several times in recent posts.
FON is a network of wireless hotspots in Europe. The infrasctructure is based on the end-users sharing their wireless LANs and broadband Internet connections wtih each other and paying subscribers. His business model has the potential to undercut rivals, mainly mobile network operators and alternative wireless Internet access providers.
Read - Dream-come-true plus funding news (Varsavsky's blog)
Read - Stoke vs Fon (alarm:clock)
Posted on February 6, 2006 05:35 AM | Posted to Venture Capital | Wireless | Permalink
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» FON grows stronger from Ejovi Nuwere
I wouldn't have believed it could be done if I didn't watch it happen first hand for myself. FON is now partners with Google and Skype/Ebay. Martin Varsavsky has announced on his blog that we have just closed an investment with Index Ventures (early Sk... [Read More]
Tracked on February 6, 2006 07:28 AM
