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

July 6, 2006 | Matt Marshall

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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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.