StarryAnonymous ISP The company was founded in 2016 and focuses on providing home internet via wireless antennas rather than cables. bankruptcy. In a press release, the company says that it intends to quickly restructure and that it’ll continue providing internet service in its “five core operating markets.” These are New York City, Boston, Los Angeles, Denver, Washington, DC.
The ISP clearly has struggled over the past months. It made an announcement in October 2022 about laying off 500 workers, roughly half of its total staff. A few more months later, Starry announced it was leaving Columbus, OhioIn an effort to be more focused on the five, “core” markets. All the while, it was burning millions of dollars in cash, and its stock was dropping after a special purpose acquisition company-backed IPO in March — it started at around $10 a share but is Now worth $0.012, which is down from $0.02 per share last week.
Following its award by the FCC for work in providing broadband internet services to the US’s underserved, the company failed to submit bids to the Rural Digital Opportunity Fund. It could have received almost $269 millions if it had completed its work. according to Light Reading.
Starry The United States Bankruptcy Court was contacted for District of Delaware approves plan for $43 million funding from lenders. It claims it would be able to offer “reliable and sustainable” services. “the necessary liquidity to continue its normal business operations and meet its post-filing obligations to its employees, customers and vendors.”
“With the support of our lenders, we feel confident in our ability to successfully exit this process as a stronger company, well-positioned to continue” Offering internet services to customers Starry CEO Chet Kanojia in the company’s press release.
ISPs using telephone and cable lines are not like ISPs. for Data transmission Starry Uses large antennas to send internet signals to other antennas in a given area. The smaller antennas can then be connected to older wireless routers. T-Mobile and Verizon are two examples of cell carriers that offer similar services. home internet service Recent years have seen the rise in popularity of 5G. hundreds of thousands You can even get it! millions number of customers to their fixed wireless plans.