Another satellite play

WildBlue announced it has raised new funding of $156 million. It plans to launch nationwide two-way broadband service via satellite in 2004.

With DirecTV and many others abandoning grand plans for satllite broadband, one must be skepical about yet another effort. By 2004, terrestrial broadband should be widespread enough to leave only a limited market for satellite. But Kleiner Perkins and the other investors who put money into WildBlue must think they know something. Unlike their original investments, this is a post-bubble round. And $156 million is a pretty big number these days.