& cplSiteName &

World Wide Packets Tops Up Tank

Light Reading
News Analysis
Light Reading
3/8/2004
50%
50%

Ethernet access vendor World Wide Packets Inc. (WWP) says it's closed the second and final portion of a third funding round of $24.5 million (see World Wide Packets Closes $24.5M Round) . A new infusion of $8.7 million comes on top of the first close of $15.7 million and brings the company’s total funding to date to about $114.4 million (see World Wide Packets Closes $15.7M Round).

WWP CEO David Curry says the funding came in stages because some of the investors needed more time for research. “In our case it was largely a timing issue,” he says. “Some funds did not have time to complete the due diligence process because they were involved in other deals.”

As Curry noted, startups often close funding in several stages to give investors flexibility.

The new investors making up the $8.7 million are Argo Global Capital LLC and Entrepia Ventures, a fund that talks up its connection to Asian markets. Previous investor Azure Capital Partners also contributed to the pile.

Besides keeping WWP in the news, the new funding should help it make good on a promise of a "steady stream of customer announcements" this year, in addition to more PR noise about active vs. passive access gear (see World Wide Packets Bags $15.7M).

Since January, when it close the first part of its third funding round, WWP has hired Matthew Frey and Ted Volberding as its chief financial officer and VP of operations, respectively (see World Wide Packets Bolsters Mgmt Team). It also announced that the City of Danville, Va., has deployed its access gear in a fiber optic network serving 100 government, public school, and utility locations.

— Phil Harvey, News Editor, Light Reading

(9)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
truelight
50%
50%
truelight,
User Rank: Light Beer
12/5/2012 | 2:17:39 AM
re: World Wide Packets Tops Up Tank
Very little customer traction means little revenue !

The management team seems to lack "Carrier" experience in the access space. Smarts in Ethernet technology does not guarantee success.

fbgboy
50%
50%
fbgboy,
User Rank: Light Beer
12/5/2012 | 2:17:38 AM
re: World Wide Packets Tops Up Tank
As most companies straight out lied about possibilites and fake specs then burst, hang on to these guys and watch what their doing. The vision is not new, this is a couple of years buildup and then they will burst out of the gate in the next 2-3 years. Not too many companies going in the same diretion but their goal is clear. My opinion only and no I do not forecast for a living, but all our engineers are talking about this company.
fiberous
50%
50%
fiberous,
User Rank: Light Beer
12/5/2012 | 2:17:25 AM
re: World Wide Packets Tops Up Tank
Companies who sold the dream that one day
everybody will be walking around with a RJ45
attached to their body did a good job to the
not-so-astute VC community.

In USA copper based ILEC access rules. You are
either connected to a:
1) SLAC (POTS)
2) DSLAM (DSL)
3) T1-mux/DLC (T1)
4) ADM/DS-3-mux (DS3)

Pay your toll and get past ILECs or else you
go directly to the poor-house and do not collect
$200 at GO. Pause and remember the poor CLECs - RIP

Interestingly enough, while the many engineers
who spend their time perpetually in 802.3
standards committee got side swiped by the PON
folks who made it rain on their EFM parade.
The ILECs felt optical access is out of bounds
for open access and will keep the dott3 folks
at bay.

When the copper EFM folks thought they
finally shook the PON folks off by the sheer
white hair and use of Roberts-Rules-Of-Order-
the ILECs floated the FTTx RFI!!

Folks who keep count - this is the 4th time the ILECs have used PON and video servcies as a decoy
when people started coming close to their copper
infrastructure.

Get the picture!!


technonerd
50%
50%
technonerd,
User Rank: Light Beer
12/5/2012 | 2:17:25 AM
re: World Wide Packets Tops Up Tank
Funny thing is, fibrous, the copper biz model is dying anyway. The RBOCs know it. But with the death of the CLECs and the consolidation of wireless, they'll be there to pick up their own pieces. It's just stunning to consider the magnitude of the opportunity missed as the result of the incompetence and corruption of the Silicon Valley VC crew.

If they had done a bit of due diligence and kept their corruption in check, they'd have been rolling in money by now. Oh well. Call it the downfall of crony capitalism. In 100 years, they'll be likening the U.S. to Argentina, which at the turn of the 20th Century was the 9th richest country in the world until they got fat 'n happy and pissed it all away.
technonerd
50%
50%
technonerd,
User Rank: Light Beer
12/5/2012 | 2:17:25 AM
re: World Wide Packets Tops Up Tank
Fantastic message. Don't worry about your "5" rating. The people who gave it to you are idiots. Boy oh boy did you ever hit the nail on the head.
truelight
50%
50%
truelight,
User Rank: Light Beer
12/5/2012 | 2:17:20 AM
re: World Wide Packets Tops Up Tank
Techonered, A "5' rating is a Outstanding according to LR rules.
technonerd
50%
50%
technonerd,
User Rank: Light Beer
12/5/2012 | 2:17:06 AM
re: World Wide Packets Tops Up Tank
Oops.
fiberous
50%
50%
fiberous,
User Rank: Light Beer
12/5/2012 | 2:17:03 AM
re: World Wide Packets Tops Up Tank

The ILEC strategy is worth pondering upon.

The ILECs guarded copper so fiercly and for so
long that it gave rise to an intense desire to
have it (by CLECs). While, they had got the
uninitiated and Sand Hill monkeys all
excited about this, they (ILECs) invested their
money into wireless (cellular) and look at the
return they are enjoying and the bananas that
the Sand Hill monkeys hold now!!

The other poor suckers are the IXC. The RBOCs
manipulated the judicial system, congress and the
administration (FCC) to create the perfect
ball and chain and boat anchor to hand
the local phone business to the IXCs in mid
stream. While, the RBOCs are going after the
core network assets of the IXCs and taking away
the profitable wireless busines owned by the
IXCs. . The IXCs are so much in debt they will
be glad to sell the worthy assets and
be eventually acquired by RBOCs for 10 cents
to a dollar.

The musical chairs are funny but grim.
Since, the RBOCs have their hand on play and
pause buttons. They will eventually own wireless
and core optical networks bought at dirrt cheap prices.

So, the VCs should learn that any value
proposition to compete with ILECs
is a dangerous game. In the end there will
be RBOCs and Cisco and everything else will
be part of history
technonerd
50%
50%
technonerd,
User Rank: Light Beer
12/5/2012 | 2:16:44 AM
re: World Wide Packets Tops Up Tank
The ILECs guarded copper so fiercly and for so long that it gave rise to an intense desire to
have it (by CLECs). While, they had got the
uninitiated and Sand Hill monkeys all
excited about this, they (ILECs) invested their
money into wireless (cellular) and look at the
return they are enjoying and the bananas that
the Sand Hill monkeys hold now!!

I don't buy your timeline or assessment of motives. The ILECs were given their wireless licenses, and invested in the buildout long before the CLECs were formed. The ILEC protection of their copper had nothing to do with the VCs' wanting to operate on that copper.

The reality, in my opinion, was that the VCs formed the CLECs as the Bubble began heating up. When the Fed panicked over the Asian financial crisis, the VCs saw their opportunity to sell out to the dumb money, i.e., the pension and mutual funds flush with newly-created cash.

All the rest ("DSL" and so forth) was just tools used in furtherance of the fraud. PowerPoint was the means to spread the false information.


The other poor suckers are the IXC. The RBOCs manipulated the judicial system, congress and the administration (FCC) to create the perfect
ball and chain and boat anchor to hand
the local phone business to the IXCs in mid
stream.

Huh? What IXC bought any local assets not owned well prior to the bubble?


The IXCs are so much in debt they will
be glad to sell the worthy assets and
be eventually acquired by RBOCs for 10 cents
to a dollar.

I tend to agree with this, anyway. But I suspect the IXCs will wind up being bought in bankruptcy given that their business is disappearing.


The musical chairs are funny but grim.
Since, the RBOCs have their hand on play and
pause buttons. They will eventually own wireless
and core optical networks bought at dirrt cheap prices.

"Eventually?" They pretty much already do.


So, the VCs should learn that any value
proposition to compete with ILECs is a dangerous game. In the end there will be RBOCs and Cisco and everything else will be part of history

You're right, but it never had to be that way. If the VCs hadn't been so corrupt in the late 1990s the CLEC business could have been huge. That set of wounds was largely self-inflicted, much like the social misery of the Third World is largely self-inflicted.
Featured Video
Flash Poll
Upcoming Live Events
September 17-19, 2019, Dallas, Texas
October 1-2, 2019, New Orleans, Louisiana
October 10, 2019, New York, New York
October 22, 2019, Los Angeles, CA
November 5, 2019, London, England
November 7, 2019, London, UK
December 3, 2019, New York, New York
December 3-5, 2019, Vienna, Austria
March 16-18, 2020, Embassy Suites, Denver, Colorado
May 18-20, 2020, Irving Convention Center, Dallas, TX
All Upcoming Live Events