BlueStar Communications
Broadband communications and internet services to small- and medium-sized businesses in the us.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
BlueStar Communications emerged in 1998, founded by Rick Burtner in Davidsonville, United States, as a subsidiary of BlueStar Properties. The company positioned itself as a provider of DSL-based broadband communications and internet services, specifically targeting small and medium-sized enterprises in the Southeastern United States. Its core service package included not only DSL internet access but also integrated web hosting and e-mail services, aiming to offer a comprehensive digital solution for its business clients.
In a significant financial milestone, BlueStar Communications secured $31.1 million in a private equity funding round on September 7, 1999, with participation from investors Crosspoint Venture Partners and BSP Associates. This capital injection was intended to fuel its growth and expansion within its target market. The company's trajectory took a sharp turn when it was acquired by Covad Communications in 2000. However, the venture was short-lived, as operations were shut down in 2001, marking the end of the company's run. Following its insolvency, BlueStar effectuated an Assignment for the Benefit of Creditors, and Development Specialists, Inc. (DSI) was brought on to manage the liquidation of its assets.
Keywords: DSL internet provider, broadband communications, SME internet services, web hosting, email services, telecommunications, BlueStar Properties, Covad Communications acquisition, Crosspoint Venture Partners, BSP Associates, internet service provider, Southeastern US telecom, business internet solutions, liquidated company, DSI, Assignment for the Benefit of Creditors