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.
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.
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, 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.
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, 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.
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, 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.
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