Iridium launched service Nov. 1, 1998 and plunged into bankruptcy nine months later. Its mission to deliver satellite-phone service to globe-trotting executives and consumers was destroyed by competition from unexpectedly pervasive and cost-effective terrestrial cellular services. After being bought out of bankruptcy by private investors, Iridium remade itself with the help of Matt Desch, who joined the company as CEO in 2006. Today, Iridium's primary markets today are maritime, aviation and terrestrial handheld devices. While the U.S. government accounts for 23 percent of Iridium's revenue, the fastest-growing part of Iridium's business is machine-to-machine communications. Desch recently discussed Iridium's future with FierceBroadbandWireless Editor Tammy Parker, and talked about his vision for the company. Hot Seat
