M2Z Networks, founded by John Muleta, the former head of the FCC's wireless bureau, and Milo Medin, founder of @Home, wants to offer affordable broadband access to at least 95 percent of the U.S. population and fulfill President Bush's vision of universal access to high-speed Internet. Reports differ on how the company will do this. The company applied to bid for a 20-megahertz spectrum license in the 2155 to 2175 MHz band earlier this month, but other reports indicate the company has asked the FCC outright for a license. The idea is to offer service to the masses subsidized by advertising. We'll see how this plays out. M2Z Networks is backed by Kleiner Perkins Caufield Byers, Redpoint Ventures and Charles River Ventures. It claims it can raise another $400 million and roll out service within 10 years.
To read more about M2Z Networks' plans:
- take a look at this report from SiliconBeat