Technology News

Clearwire IPO Raises $600 Million

Friday, March 09, 2007 8:00:00 AM PDT | VentureDeal Staff

KIRKLAND, WA -- Clearwire Corp. (Nasdaq: CLWR) floated 24 million shares priced at $25 each, netting $600 million in one of the larger IPOs in recent history.

The company was founded by wireless industry pioneer Craig McCaw, who serves as chairman.  Clearwire uses the Wi-Max system protocol to provide wireless Internet access, and expects to continue a national roll-out with the new funding.

Intel Capital was a large investor, investing $600 million itself in the company.  Motorola Ventures also invested.

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