Spanish Wi-Fi sharing company Fon has raised $14 million from Qualcomm Ventures, VentureBeat reports. It’s an indication that Fon’s collective approach to sharing bandwidth, while slow-growing, still has some attraction to investors — particularly a strategic investor like Qualcomm, which makes chips for broadband wireless communications. It might also be finding some traction now that the notion of “collaborative consumption” is catching on, thanks to startups like AirBnB and Lyft — although Fon predates those startups by several years. Fon will use the funding to develop a new device, based on Qualcomm’s Atheros chipset, that enables users to share music...

Subscribe to Read More

Are You an Educator?

Get Free online access to all our
news and resources and get
eSchool News Today email newsletter

About the Author:

staff and wire services reports