StarBand Withdraws $250 Million IPO - Company Business and Marketing - Brief Article

ISP Business, March, 2001

StarBand Communications Inc. is withdrawing its $250 million planned initial public offering because of current market conditions. The McLean, Virginia-based company is America's first nationwide provider of two-way, always-on, high-speed Internet access via satellite to residential and small office/home office customers.

StarBand, the former Gilat-To-Home Inc., is a joint venture of Gilat Satellite Networks Ltd., Microsoft Corp., EchoStar Communications Corp., and ING Furman Selz Investments.

Microsoft provides MSN Internet Access and an MSN/StarBand co-branded portal in addition to retail distribution through thousands of RadioShack stores throughout the US. EchoStar's DISH Network, which has more than four million subscribers and a network of 23,000 US retailers, will jointly introduce with StarBand, a single-dish solution for satellite television and Internet access.