OneWeb files for bankruptcy after failing to secure new funding amid COVID-19 crisis; sources: OneWeb was in talks to raise ~$2B from SoftBank before the crisis
Financial Times
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Discussion
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@icenav57
David
on x
This is very unfortunate for Arctic communications https://twitter.com/...
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@aaronklein
Aaron Klein
on x
Fastest way to become a millionaire in the satellite business: start as a billionaire. https://twitter.com/...
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@janhattenbach
Jan Hattenbach
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Launch lots of satellites? Check. Fill orbits w/ more space junk? Check. File for bankruptcy before business starts? Check - hooray for private spacefligfht! https://www.geekwire.com/...
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@timfernholz
Tim Fernholz
on x
OneWeb has officially filed for bankruptcy and is pursuing a sale of its assets, including 74 satellites in orbit https://www.prnewswire.com/...
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@osma
Osma Ahvenlampi
on x
That's a confirm, then. A few hundred low orbit satellites less to streak across astronomy images while providing Internet access. RIP, OneWeb. They were the first I learned of, now overtaken by Starlink. https://www.techmeme.com/...
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@jackiewattles
Jackie Wattles
on x
3/ “The Company intends to use these proceedings to pursue a sale of its business in order to maximize the value of the company.” https://www.prnewswire.com/...
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@oneweb
@oneweb
on x
Full Release: https://www.oneweb.world/... #OneWeb
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@bloombergasia
Bloomberg Asia
on x
OneWeb becomes one of the first companies backed by SoftBank to seek court protection from its creditors after high costs and stiff competition led to a cash crunch https://www.bloomberg.com/...
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@ahmed
Ahmed Al Omran
on x
SoftBank-backed satellite internet start-up OneWeb to file for bankruptcy after failing to secure $2 billion in new funding https://www.ft.com/...
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@jjaron
Jacob Aron
on x
Well, that's one less megaconstellation to worry about... https://twitter.com/...
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@alteredjamie
Jamie Groh
on x
Oh, this is a bummer to hear. Especially following the two recent successful launches of their constellation satellites https://twitter.com/...
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@tim
Tim Bradshaw
on x
Softbank-backed satellite internet venture OneWeb is preparing to go into Chapter 11 bankruptcy tonight after failing to secure new funds. One of the most prominent tech victims of the corona markets crunch. 500+ jobs and $3bn of investment at risk. https://www.ft.com/...