Subject: [NEXTEL-1] Report: Ricochet Shutters San Diego Network

From: [email-masked]
Date: Tue, 18 Nov 2003 14:17:57 -0500

Report: Ricochet Shutters San Diego Network
BY SUSAN RUSH
NOVEMBER 18, 2003

The past has been a rocky road for the Ricochet wireless broadband service, and if circulating reports are on target, it looks like the future could be bumpy, too.
Apparently, the service was shuttered in San Diego late last week and one retailer has been asked to take its products off the retail floor, according to media reports.
Ricochet's San Diego service reportedly went dark on Friday. One local subscriber told the San Diego Union-Tribune that he lost service on Friday, but has been unable to reach the company to report the problem.
Beyond its service offerings, Ricochet seems to be distancing itself from new customers as well. Car Toys reportedly was asked by the company to stop selling its product line, according to a CNET.com report.
When news@2 attempted to contact Ricochet, the call was directed to an automated attendant with instructions to leave a message. Neither calls nor an e-mail request for comment were returned. The company's CEO, Greg Sadler, told the Denver Post last week that the company is "actively evaluating a number of options relative to its business prospects."
Since Ricochet's inception, service founder Metricom was hailed as a forerunner in the wireless broadband market, but the high cost of building out its network forced Metricom into bankruptcy in August 2001. Before it went bankrupt, the company only had 51,000 subscribers in 14 markets.
In November 2001, Aerie Networks Inc. (now known as Ricochet Networks Inc.) forked over a mere $8.25 million to acquire the remaining assets of bankrupt Metricom's $1 billion high-speed wireless network. Less than a year after snatching up the assets, the high-speed wireless service was re-launched in Denver. At the end of June, the company had roughly 6,000 subscribers.

http://www.wirelessweek.com/index.asp?layout=newsat2direct&starting=4&pubdate=11/18/03

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