Wireless - Wednesday, January 9, 2008
Kleiner's Bad Hand Continues With Frontline Fiasco
2007 was a rough year for Kleiner Perkins. The firm has some great PR coups thanks to the addition of Al Gore to its staff and its green tech investments but most of these deals appear that they will not pay off for some time. In the meantime, Kleiner has not participated in many of the deals that paid rewards last year.
Kleiner is off to a rocky start with word that one of its most ambitious wireless deals - Frontline - has been forced to shutter after the startup failed to come up with the cash necessary to buy spectrum licenses. To get into the game, Frontline was required to put up $128M that last Thursday but it didn't have that kind of money in the bank.
Frontline was founded by Reed Hundt, who was chairman of the FCC, along with veteran wireless executives and a group of elite Silicon Valley venture capitalists. John Doerr was on the board along with James Barksdale and Ram Shriram.
Read - RCR Wireless
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