Vancouver WiMax broadband service provider MetroBridge Networks plans to finish raising a $3.1 million third round of funding in the next couple of weeks, and is preparing an IPO for Spring, the company tells VentureWire (sub required).
This is eye-opening, because money-losing Cleawire just announced its IPO plans, and MetroBridge’s chief executive is even saying next year will likely see a consolidation in the industry. There’s no sign this industry will be profitable anytime soon.
(This story originally posted 12/21)
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