Feeds

Pac Fibre secures more funding

PayPal co-founder included in $NZ5.5 million raising

  • alert
  • submit to reddit

Top three mobile application threats

The proposed Pacific Fibre, which if built would add both capacity and competition to the trans-Pacific fibre route, has announced $NZ5.5 million of funding from PayPal co-founder Peter Thiel via his Valar Ventures investment vehicle.

In an announcement posted on the Pacific Fibre Website, Thiel is quoted as describing the venture as “significant to the growing technology industries in New Zealand and Australia.”

New Zealand has limited direct links to the USA, with only the Southern Cross Cable Network making the trip. If it is able to raise the funds for the $NZ300 million to $NZ400 million build, Pacific Fibre is expected to enter service with more than 5 TB of capacity in 2013.

Correction:It's been pointed out to The Register that Peter Thiel is a participant in the capital raising, alongside Pacific Fibre's existing external investors, and that the total raising was $NZ5.5 million including Thiel's contribution.

Combat fraud and increase customer satisfaction

More from The Register

next story
Virgin Media so, so SORRY for turning spam fire-hose on its punters
Hundreds of emails flood inboxes thanks to gaffe
A black box for your SUITCASE: Now your lost luggage can phone home – quite literally
Breakfast in London, lunch in NYC, and your clothes in Peru
AT&T threatens to pull out of FCC wireless auctions over purchase limits
Company wants ability to buy more spectrum space in auction
Turnbull leaves Australia's broadband blackspots in the dark
New Statement of Expectations to NBN Co offers get-out clauses for blackspot builds
Facebook claims 100 MEEELLION active users in India
Who needs China when you've got the next billion in your sights?
Facebook splats in-app chat, whacks brats into crack yakety-yak app
Jibber-jabbering addicts turfed out just as Zuck warned
Google looks to LTE and Wi-Fi to help it lube YouTube tubes
Bandwidth hogger needs tube embiggenment if it's to succeed
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.