2022 in review: Starry's bumpy journey

Fixed wireless access (FWA) enjoyed a moment in 2022 as operators such as T-Mobile and Verizon raked in home broadband subscribers at a rapid rate. Starry, a startup in the FWA game, had a few moments of its own – and not all of them were necessarily good. As the headline suggests, its year was a journey full of bumps, twists and turns.

Early into the year, Starry showed it was growing a subscriber base that was largely relegated to multiple-dwelling units (MDUs). The company pinned hopes on a planned initial public offering (IPO) of stock to supply the financial fuel needed to fulfill its ambitious buildout plans.

Starry, which has promoted the idea of "personalized broadband" and actually put some of those ideas into action, did execute an IPO. However, the amount raised fell well short of its expected targets. At least one analyst suggested that the company needed another $1 billion to fund its ambitious plans.

Even as it explored ways to bridge its funding gap, Starry did what it could to stick to its knitting – adding subscribers and expanding its reach where it could.

But trouble was clearly brewing when the company defaulted on its RDOF (Rural Digital Opportunity Fund) bids, later leading to a decision to halt its buildout and lay off 500 employees. At last check, Starry had hired a firm to advise on M&A and raising capital.

Boiled down, it was quite a ride for Starry in 2022 – and a rocky one at that. And it's still not clear where the next step in its journey will lead. While we await word on the company's fate in 2023, here's a roundup of Starry stories that shaped the FWA specialist's 2022.

Figure 1:
(Source: New York Stock Exchange. Used with permission.)

3/28/22 – Starry nears its NYSE debut
(Jeff Baumgartner, Senior Editor)

3/30/22 – Starry CEO: Get ready for personalized broadband
(Jeff Baumgartner, Senior Editor)

6/13/22 – Starry needs another $1B to fund ambitious growth plan – analyst
(Jeff Baumgartner, Senior Editor)

7/13/22 – Starry adds record subs in Q2 as total nears 81,000
(Jeff Baumgartner, Senior Editor)

8/15/22 – Starry kicks off personalized broadband effort with 'Upload Boost' trial
(Jeff Baumgartner, Senior Editor)

8/31/22 – FCC approves RDOF spending with FWA providers Starry, Nextlink, others
(Mike Dano, Editorial Director, 5G & Mobile Strategies)

9/29/22 – Starry has solid potential, but financing needs fixing – analyst
(Jeff Baumgartner, Senior Editor)

10/12/22 – Starry to default on all RDOF bids – FCC
(Nicole Ferraro, Editor, Light Reading, and host of The Divide)

10/14/22 – The Notebook Dump: DOCSIS ain't cheap, edge computing is 'meh' and Starry bet and lost on RDOF
(Kelsey Kusterer Ziser, Senior Editor)

10/20/22 – Starry halts FWA buildout, lays off 500 employees
(Mike Dano, Editorial Director, 5G & Mobile Strategies)

12/19/22 – Starry still fighting as it faces stock delisting
(Jeff Baumgartner, Senior Editor)

— The Staff, Light Reading