Teledesic Explores Early Market Entry Strategies
Monday September 27, 12:26 pm Eastern Time
Company Press Release
BELLEVUE, Wash.--(BUSINESS WIRE)--Sept. 27, 1999--Confirming a story in today's
Wall Street Journal, Teledesic LLC, which is building a global, broadband
Internet-in-the-Sky, today announced that it is exploring early market entry strategies.
``Teledesic has decided to explore a variety of early-entry opportunities that will help us
fulfill our long-term vision of delivering global, broadband communications services,' said Bill Owens, Teledesic's co-chief
executive officer. ``We believe these new opportunities may enable Teledesic to more quickly establish a leadership position in
the satellite communications marketplace while also generating early revenue.'
The company did not disclose details about the options under consideration.
``Despite current conditions in the satellite communications market, Teledesic is in an enviable position,' Owens said. ``We
have money in the bank. We have the time necessary to evaluate opportunities created by the unfortunate difficulties of others.
We have investors with long-term vision. And above all, we have the hands-on commitment and proven track record of Craig
McCaw.' McCaw is Teledesic's chairman and co-CEO.
To fully evaluate the early-entry opportunities, Teledesic is continuing its technical and business review with its partner
Motorola. ``We remain fully committed to Teledesic's vision of delivering global, broadband communications, but we believe it
is prudent for us to continue the review of our proposed system with Motorola,' Owens said. ``This will give us more time to
fine-tune our system design and business plan while we also evaluate promising early-entry options.'
Privately held Teledesic has raised more than $1.5 billion. Telecommunications pioneer McCaw and Microsoft founder Bill
Gates are the company's two primary founding investors. Strategic investors also include Motorola, Saudi Prince Alwaleed Bin
Talal and The Boeing Company. Teledesic is the first licensed satellite communications network that will enable affordable,
worldwide access to advanced telecommunications services such as computer networking, broadband Internet access and
interactive multimedia. Teledesic will deliver broadband data and value-added services over a global network optimized for the
Internet Protocol. Teledesic (pronounced ``tel-eh-DEH-sic') is based in Bellevue, a suburb of Seattle.
Editors' Note: Teledesic and Internet-in-the-Sky are registered service marks of Teledesic LLC.
Contact:
Teledesic
Roger Nyhus, 425/602-6500
roger@teledesic.com
or
David Bowermaster, 425/602-6500
davidb@teledesic.com
or
Corporate Office, 425/602-0000
info@teledesic.com
www.teledesic.com
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