IAsiaworks
Web hosting, and other e-commerce and professional services to businesses in asia.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
$85.0m | Late VC | ||
| Total Funding | 000k | ||
iAsiaWorks operated as an Internet Service Provider (ISP) and Internet Data Center (IDC) during the dot-com era, from 2000 to 2001. The company's origins trace back to a Taiwanese and Korean ISP named AUNET, which started in 1997. Following a strategic revision in July 1999, the company rebranded as iAsiaWorks and appointed JoAnn Patrick-Ezzell, former CEO of AT&T Asia-Pacific, as its new chief executive. The leadership team also included Jon Beizer as CEO, Jon Engman as CFO, and Nick Levay as CSO at various points.
The firm's business model was centered on providing a comprehensive suite of internet services for businesses looking to establish or grow their online presence in the Asia-Pacific region. This included leased-line internet access, web hosting, co-location services, and consulting. To support these offerings, iAsiaWorks embarked on an ambitious plan to build large-scale, 100,000-square-foot data centers in key Asian markets, including Hong Kong, Taipei, and Seoul. The company's expansion was partly fueled by the acquisition of AT&T's Hong Kong ISP business and Web Professionals, a Cupertino-based company. Its client roster reportedly included prominent names like Nike, DoubleClick, and the Hong Kong Stock Exchange.
iAsiaWorks pursued an aggressive growth strategy, financed through significant private equity funding, including an $85 million Series B round in December 1999 from investors such as Credit Suisse, TPG, and Morgan Stanley. The company went public on the NASDAQ under the ticker IAWK in August 2000, after initially filing to raise up to $230 million. Despite its high-profile launch and infrastructure investments, the company faced operational challenges and struggled in the turbulent market of the dot-com crash. The data centers remained largely underutilized, and by mid-to-late 2001, iAsiaWorks had ceased operations. Its assets were subsequently acquired by other companies; the Seoul facility was purchased by Dacom, and the Hong Kong data center was taken over by Singtel.
Keywords: iAsiaWorks, Internet Service Provider, ISP, Internet Data Center, IDC, dot-com era, AUNET, Jon Beizer, JoAnn Patrick-Ezzell, data center colocation, web hosting, Asia-Pacific internet, IAWK, NASDAQ IPO, Dacom, Singtel, AT&T Asia-Pacific, managed services, leased-line access, Hong Kong internet, Korean ISP, Taiwanese ISP