Now Fon has raised a new round of funds to expand further in the US, form relationships and build its business in new markets, and develop new hotspot technology and WiFi applications for small businesses. The latest round takes Fon's total funding, since it was founded in 2006 by telecom entrepreneur Martin Varsavsky, to more than €60 million ($81.4 million).
The funding from Qualcomm Ventures further expands Fon's relationship with Qualcomm Inc. (Nasdaq: QCOM), as Fon is basing the development of a new WiFi router (which incorporates a music-sharing application) on a chipset from Qualcomm Atheros . That new router is set to be launched in the first half of this year.
In addition, Qualcomm Atheros is integrating Fon's protocol stack into the software development kit (SDK) for its chipsets, making it easier for router manufacturers to build support for Fon into their products.
SarahReedy, User Rank: Blogger 1/22/2014 | 10:27:41 AM
Re: Scale game Its Foneros are of course really important, but it seems like their bigger play is with operator partnerships. That's the quickest way to grow its customer base. I bet they'll start do more with ads and services for revenue generation. I've asked Qualcomm about the social music angle of the partnership. Not sure what that will look like, but there might be some extra money there?
KBode, User Rank: Light Sabre 1/21/2014 | 9:53:13 AM
Re: Scale game Their recent resurgance in the press has been interesting, as somebody (like you) that has been watching this company since they were handing out old Linksys routers with custom firmware.
Seems like there was a huge bang to start with, a long period where the focus was overseas to minimal effect, and now a massive new PR push in the States.
Despite all the noise, I don't see a lot of actual users signing up to use this service, especially with the ever-increasing availability of free Wi-Fi and ubiquitous cell connections. Something to be said for perserverence to be sure though, I agree.
Ray@LR, User Rank: Blogger 1/20/2014 | 12:58:16 PM
Scale game You have to admire the perseverance of the Fon team - it has taken them years to build up the trust of the telcos and other network operators to engage in partnerships.
But I wonder at what point does Fon become a ghoing concern as a business? THis is a real scale play -- the more people that sign up to be 'Foneros' the greater the reach and appeal of the service and the greater the potential revenues for Fon -- but when does Fon break even?
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