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Showing posts with label raises. Show all posts
Showing posts with label raises. Show all posts

Gigabit Squared raises $200 million for gigabit broadband rollout

A broadband Internet company has raised $200 million in funding to help build out its dream of gigabit broadband networks. The company is called Gigabit Squared, and it is looking to roll out its superfast web connections to at least six university communities in the United States. The US is well down the list of global broadband speeds, so it’s nice to see at least a few communities potentially get access to blazing fast speeds enjoyed in Europe.

The company announced Wednesday it had raised the $200 million and will be collaborating with the Gig.U project to decide on the universities that will get the new high-speed infrastructure. Those high-speed network infrastructures will be rolled out between November and March 2013. The communities that get the new high-speed networks will also participate in a program headed by Gig.U.

The program the communities participated in is called the Gigabit Neighborhood Gateway Program. This program hopes to use the new high-speed connections to drive innovation in education, healthcare, and other sectors of the communities. I hope Gigabit Squared and Gig.U do well with this program, and it spurs the rollout of superfast broadband networks around the country.

[via Venturebeat]

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Congress raises a middle finger to young bicyclists

By Ozzie Zehner

She’s off to school, with helmet on head and doll in tow. (Photo by carfreedays.)

A small federal program is punching holes through the unsafe barricade of freeways, busy roads, and rushed drivers that surround the nation’s schools. Yet despite the program’s success, Congress is now threatening to terminate it — not to save money, but to redirect its funds toward more car-centric infrastructure.

In 2005, Congress initiated a Safe Routes to School (SRTS) national partnership. The SRTS program coordinates infrastructure improvements across the country to make walking and biking to school safer and more practical for students and educators. By most measures, the program has been a resounding success.

Testifying to Congress about a pilot project, director Deb Hubsmith stated, “In only two years, we documented a 64 percent increase in the number of children walking, a 114 percent increase in the number of students biking, a 91 percent increase in the number of students carpooling, and a 39 percent decrease in the number of children arriving by private car carrying only one student.”

Children represent over 12 percent of pedestrian fatalities. And bicycle-related injuries send over a quarter million children to hospitals annually. But SRTS currently receives just 0.2 percent of the U.S. Department of Transportation’s safety budget — and even that tiny slice is now in jeopardy.

The Senate transportation bill, currently in a conference committee, would relegate SRTS funds to a shared pot called “additional activities.” Depending on the compromise bill’s final language, states may be allowed to shift bike and pedestrian funds to road construction or other priorities. House Republicans would prefer to go one step further, eliminating bike and pedestrian funding altogether.

Walking and biking are inconvenient in the United States compared to most other industrialized nations. Most Americans live in a physical, legal, economic, and social terrain designed over a period of many decades to accommodate motor vehicles above all else, making alternative forms of transportation unpleasant and even unsafe.

For instance, a student environmental group at Bridgewater-Raritan High School in New Jersey raised money for a bike rack only to have their principal reject it, citing safety risks. Similarly, a principal at Island Park Elementary School in Mercer Island, Wash., an avid bicycler herself, vetoed a proposed bike route, pointing out that a fifth-grader had recently been killed while walking his bike through a street crossing. A principal in Walker, Mich., recently suspended a group of students for biking en masse to school.

If Europe’s experience is any guide, the success of bikeable neighborhoods will depend on the ability of communities to establish a bicycling culture. Amsterdam and Copenhagen were not always bike-friendly cities, yet today they embrace bicycling and walking as legitimate and esteemed modes of transportation.

A study [PDF] by researchers at Rutgers University and the European Commission identifies six key steps for planners and policy makers trying to design safe and convenient bikeable and walkable communities:

Improve facilities for walking and cyclingPrioritize urban designs sensitive to the needs of non-motoristsIntroduce traffic calming in residential neighborhoodsPlace restrictions on motor vehicle use in citiesDeliver rigorous traffic education to both motorists and non-motoristsStrictly enforce traffic regulations protecting pedestrians and bicyclists

The researchers claim that such strategies are flexible to a wide array of neighborhood layouts, simple to institute, and return rapid paybacks in terms of public safety, quality of life, and energy footprints. Furthermore, prioritizing walking and biking policies reduces long-term infrastructure maintenance costs.

If the United States Congress is serious about cutting costs, it may eventually have to stand up to thirsty car-culture lobbies and back infrastructure that pays durable dividends.

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Confirmed: Square raises $100M, Mary Meeker, Vinod Khosla and Larry Summers now on board

Earlier reports of mobile payments provider Square raising $100 million that arose in June are now confirmed thanks to a Form D filing with the Securities and Exchange Commission.

Chief operating officer Keith Rabois said the company is processing nearly $4 million in payments every day, and it expects to surpass $1 billion by year’s end. The company is signing up between 30,000 and 50,000 new merchants each month. The new funding round reportedly values Square at more than $1 billion, well above the company’s previous valuation of $240 million from its last funding round.

The company issues small card-reader dongles that plug into a smartphone’s headphone jack. Users then swipe a credit card through the reader, which transmits all that information to Square’s mobile application. The application is popular with small business owners who don’t want to deal with the larger transaction costs or equipment fees that other banks and business infrastructure providers sell.

If you still need evidence of Square’s rock star status in the startup world, Mary Meeker of Kleiner Perkins Caufield & Byers, Vinod Khosla of Khosla Ventures and former Obama chief economy adviser Larry Summers are joining the company’s board. Twitter co-founder Jack Dorsey founded Square.
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