Intel’s WiMax bet, Chegg raises seed $, en route to London

July 6, 2006 | Matt Marshall | Comments | |
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Main news in venture world:

–Intel and Motorola will invest $900 million in Kirkland, Wash’s Clearwire, which plans to build WiMax networks nationwide. WiMax differs from WiFi in that it has much longer ranges — as much as 10 miles vs. WiFi’s reach of a few hundred feet. Intel wants to us this to technology to allow someone to get wireless access on a laptop anywhere. (Update: Techdirt provides a hype-puncturing critique of WiMax and Clearwire).

–Chegg, of Palo Alto, an online marketplace for college students to trade items locally, has gotten about $500,000 in seed financing from investors including Convergence Partners’ Eric Di Benedetto and Sam Spadafora, according to VentureWire (sub required). Wants to be a Facebook on ecommerce steroids.

For London folks: Just a reminder we’re meeting up at the Louise in Holborn on Saturday. See u there.

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Matt Marshall is editor and CEO of VentureBeat. Follow him on Twitter at @mmarshall, and follow VentureBeat on Twitter at @venturebeat.

  • Looking forward to meet you guys. I missed Om's meet-up there.

    cheers
  • Tahir Zaimoglu
    If The Inquirer's post about "Swedish town blighted by WiMAX" http://www.theinquirer.net/default.aspx?article=32320 is true, will this 900 million will cure us?
  • Along these WiMax-skeptical lines, Techdirt's Masnick is right on, as usual. I've been transit for what seems like a whole day, I just got around to reading it. Have updated.