News.com's Ben Charney reports on HereUare's inability to raise more funding, and it's openly frank executive teamdiscussing the sale of the company. Unless a miracle occurs, this probably spells the end of HereUare (and subsidiary WiFiMetro) from an investor point-of-view. When you have two weeks of cash left and your current investors have shut their wallets, you don't have much leverage to negotiate with potential buyers. My prediction: expect a sale of HereUare's assets, somewhere in the $10-20 million (aka fire sale) range.
In the end, this is about business models; HereUare's assumed a strong thriving market where:
- People were willing to pay for hotspot wireless access
- People wanted to do this from multiple locations (roaming)
- People were willing to pay enough to support multiple revenue shares (cafe owner, WISP, HereUare, roaming WISP)
"WiFi for customer use only"