News on TeraBeam (Jolt competitor?) from the New Frank Coluccio Technology Forum on SI...
To: ftth who started this subject
From: peggylynn Monday, Sep 4, 2000 11:19 AM ET
Reply # of 752
TeraBeam's founder has ended up in a losing struggle for control of the company. There is no information in the article about the technology. - peggylynn
seattlep-i.nwsource.com
Founder sells $100 million of TeraBeam shares, steps down
SEATTLE POST-INTELLIGENCER REPORTER
Saturday, September 2, 2000
Greg Amadon, the founder of Seattle start-up TeraBeam Networks Inc., was a happy man yesterday evening.
Yes, he is out of a job, he conceded. Earlier in the day he had yielded his chairmanship to Chief Executive Dan Hesse; he retained a seat on TeraBeam's board of directors, but no other official duties.
On the other hand, he noted, he is $100 million richer.
...
To date, the company has raised $576 million. Most recently, Lucent Technologies Inc. invested $450 million for a 30-percent share. Other investors include Merrill Lynch, Morgan Stanley Dean Witter, Capital Research and Management Group, Fidelity Management & Research, Madrona Investments, Oakhill Venture Partners, T. Rowe Price Investment Services, and a handful of individuals.
After the deal closes, Amadon will remain the largest individual shareholder.
TeraBeam is preparing to roll out service in Seattle in the first quarter of 2001. |
