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had occurred. Northpoint sued
Verizon to force it to complete the transaction. The lawsuit was settled out of court in July 2002, with Verizon agreeing to pay $ 175 million to Northpoint. NorthPoint stated that "it would cut its workforce by 19%, or 248 jobs, to lower expenses after the collapse of
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In
November 2000, as its customers failed to pay their bills, NorthPoint restated downwards its financial performance for the third quarter of 2000, lowering revenue from $ 30 million to $ 24 million. After the earnings restatement, Verizon terminated its acquisition agreement, claiming that a
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255:. Some internet service providers, which faced a disruption in service, blamed the banks for failing to work out a deal to save the company. In March 2001,
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in which it sold 15 million shares at $ 24 per share. Malaga, then 34 years old, was worth $ 300 million on paper.
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In many ways, the rise and fall of NorthPoint mirrors the fate of one of its chief competitors:
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The company was founded in 1997 by
Michael W. Malaga and 5 other former executives of
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agreed to acquire a 55% interest in the company and merge the companies'
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acquired the assets of NorthPoint for $ 135 million in a liquidation.
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493:"NorthPoint Communications Files For Chapter 11 Creditor Protection"
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305:"The Cash Just Keeps Coming / NorthPoint founder stays grounded"
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558:"AT&T to Acquire Most Assets Of NorthPoint Communications"
378:"NorthPoint Restates Earnings; Loss Could Affect Verizon Deal"
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Defunct telecommunications companies of the United States
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Defunct companies based in the San
Francisco Bay Area
327:"This IPO Goes to Show: 'Dot-com' Is No Magic Bullet"
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421:"Verizon Agrees to Settle NorthPoint Merger Suits"
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555:Young, Shawn; Solomon, Deborah (March 23, 2001).
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283:"NORTHPOINT COMMUNICATIONS GROUP INC (NPNT) IPO"
1480:Internet service providers of the United States
536:"ISPs React To NorthPoint's Imminent Shutdown"
447:"NorthPoint Communications Unmoved by Layoffs"
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515:"NorthPoint files for Chapter 11 protection"
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136:. The company had relationships with
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17:NorthPoint Communications Group, Inc.
1391:Enron: The Smartest Guys in the Room
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352:SCHIESEL, SETH (November 30, 2000).
513:Weiss, Todd R. (January 17, 2001).
445:Staff, T. S. C. (7 December 2000).
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180:. The company had investments from
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375:Young, Shawn (November 21, 2000).
355:"Verizon Abandons NorthPoint Deal"
251:In January 2001, NorthPoint filed
126:competitive local exchange carrier
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1445:1997 establishments in California
490:Young, Shawn (January 17, 2001).
471:"NorthPoint files for Chapter 11"
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398:Lais, Sami (November 30, 2000).
915:Digital Convergence Corporation
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476:American City Business Journals
78:Bankruptcy, assets acquired by
534:Wagner, Jim (March 29, 2001).
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1485:The Carlyle Group companies
1262:WebChat Broadcasting System
211:On May 5, 1999, during the
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62:; 23 years ago
36:; 27 years ago
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243:its merger with Verizon."
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134:digital subscriber lines
564:The Wall Street Journal
499:The Wall Street Journal
384:The Wall Street Journal
310:San Francisco Chronicle
240:material adverse change
221:initial public offering
215:, the company became a
264:Rhythms NetConnections
1475:AT&T subsidiaries
1359:The Industry Standard
1308:Irrational exuberance
1257:Vignette Corporation
1055:The Learning Company
257:AT&T Corporation
158:Frontier Corporation
154:Cable & Wireless
1352:Conspiracy of Fools
1345:Blood on the Street
1212:Tradex Technologies
825:Akamai Technologies
774:Kaleil Isaza Tuzman
479:. January 17, 2001.
226:In September 2000,
111:Number of employees
18:
1405:Valley of the Boom
1313:Sarbanes–Oxley Act
1180:Scout Electromedia
955:Epidemic Marketing
361:The New York Times
166:ICG Communications
162:Concentric Network
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1232:USinternetworking
1100:Network Solutions
845:Blue Coat Systems
830:Alteon WebSystems
815:Actua Corporation
769:Scott D. Sullivan
754:Michael J. Saylor
669:Charlie Gasparino
427:Los Angeles Times
333:Los Angeles Times
194:Greylock Partners
182:The Carlyle Group
142:Tandy Corporation
130:data transmission
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52:Michael W. Malaga
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1421:
1328:WorldCom scandal
1242:VA Linux Systems
1160:Redback Networks
1030:Internet America
945:Egghead Software
900:Cyberian Outpost
860:Broadband Sports
820:Airspan Networks
779:Julie Wainwright
759:Jeffrey Skilling
744:Stephan Paternot
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985:Global Crossing
920:Digital Insight
885:Cobalt Networks
855:Books-A-Million
840:Arthur Andersen
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624:Marc Andreessen
619:Daniel Aegerter
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1337:Publications
1282:World Online
1197:theGlobe.com
1165:Register.com
1104:
1060:Liquid Audio
890:Commerce One
729:PayPal Mafia
704:Gerry Kearby
699:Howard Jonas
694:Jeff Hawkins
684:Jack Grubman
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174:Network Plus
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86:Headquarters
1398:Startup.com
1252:VerticalNet
1202:Think Tools
930:DoubleClick
905:CyberRebate
805:360networks
724:Mary Meeker
714:Kenneth Lay
689:Josh Harris
629:Bob Bernard
128:focused on
1439:Categories
1145:Pseudo.com
1110:Palm, Inc.
1075:MarchFirst
1005:HomeGrocer
995:Handspring
784:Jerry Yang
739:Jason Olim
664:David Filo
634:Jeff Bezos
541:QuinStreet
456:2020-04-28
270:References
253:bankruptcy
247:Bankruptcy
115:506 (1999)
97:Key people
90:California
1217:Transmeta
1155:Razorfish
1150:Radvision
1085:Net2Phone
1065:LookSmart
1045:Kozmo.com
1015:InfoSpace
1000:Healtheon
980:GeoCities
965:Flooz.com
880:CMGI Inc.
793:Companies
654:Bob Davis
451:TheStreet
190:Benchmark
138:Microsoft
1424:Category
1384:e-Dreams
1277:WorldCom
1267:Websense
1120:Pets.com
1095:Netscape
1035:iVillage
1010:Infoseek
990:govWorks
810:AboveNet
749:Jim Rutt
80:AT&T
1296:History
1140:Prodigy
1130:Pixelon
1090:NetBank
1020:Inktomi
975:Gadzoox
875:Chemdex
850:Boo.com
228:Verizon
219:via an
200:History
178:Netopia
65: (
57:Defunct
49:Founder
39: (
31:Founded
1287:Yahoo!
1272:Webvan
1175:Savvis
1125:PFSweb
1115:PayPal
960:Excite
925:Divine
835:Amazon
612:People
287:NASDAQ
192:, and
176:, and
124:was a
1247:Verio
1237:UUNET
1192:Terra
1070:Lycos
970:Freei
950:Enron
940:eGain
910:Digex
895:Covad
870:CDNow
170:Enron
150:Verio
146:Intel
1222:uBid
1185:modo
1040:iWon
935:eBay
800:3Com
132:via
75:Fate
67:2001
60:2001
41:1997
34:1997
232:DSL
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