Today in Philly Tech History 3/1/2001; Bala Cynwyd-based Digital Access Inc., after blowing through $450 million, shuts down

On March 1, 2001, Bala Cynwyd-based Digital Access Inc., having spent $450 million trying to build a broadband competitor to companies such as Comcast, announced it could not raise more needed cash and was shutting down. It was trying to raise another $900 million in debt to finance its buildout, but couldn't find it in the environment that followed the Internet bubble meltdown.

Digital Access was planning to enter the Indianapolis, Kansas City and Milwaukee markets. It cited market conditions, as well as regulatory delays that slowed down it down, as major factors, but in fact the opportunity for major independent residential broadband competitors to the established cable operators to get off the ground was coming to an end. Investors in Digital Access included Goldman Sachs, Navis Partners and Bachow & Associates.


Daily Links 2/28/2013: VMware exec: "Hard to believe that we cannot collectively beat a company that sells books"

 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email

EPAM Systems Reports Record Results for Fourth Quarter and Full Year 2012 (Thomson Reuters One via Yahoo Finance)

Universal Display rides higher on hopes of OLED TV ramp
Organic LED materials specialist reports 'best ever' financial year, and is excited by investments at LG and Samsung.


Cablevision to Suspend Repeat Copyright Scofflaws, Comcast to Hijack Browsers (Wired)

Cablevision Declines After Sandy Damage Leads to Quarterly Loss (Bloomberg)

Salesforce Forecast Tops Estimates on New Product Demand (Bloomberg)

With 23 million weekly listeners, digital radio platform Jelli partners with Entercom to supercharge distribution (PandoDaily)
Entercom is based in Bala Cynwyd; First Round Capital was an early investor in Jelli.

Liberty Media 4Q revenue, profits fall (AP via Businessweek)
52% revenue decline from last year attributed to deferred revenue recognized last year by
Berwyn-based TruePosition from huge telco contract.

VMware Top Execs Lash Out At Amazon Public Cloud (CRN)
"I find it really hard to believe that we cannot collectively beat a company that sells books", VMware President/COO tells partners conference.

Disruption guru Clay Christensen says incumbent media players are making a classic mistake (paidContent)