We are rapidly moving into a new wireless world. The transformation has been inevitable, and we are now widely greeted with new electronics and environments that are freed from the constraints of wires, opened by streaming ones and zeroes floating through the air swiftly transferring information between devices. This transformation opens new opportunities to entrepreneurs who are constantly searching for innovative ways to impact our daily lives.
It should come as no surprise that another set of entrepreneurs at Boston College has set out to solve a problem and bring a more efficient system and product to market. As part of the growing number of college start-ups, Anaptyx is one of the few start-ups fortunate enough to have grown to a fully operational corporation. This is no shock to me as they have an excellent product that brings value to many people and their everyday lives.
Frustrated with terrible service and high costs of cable companies, and coupled with irritating and seemingly problem-prone Linksys routers, Boston College alumus Kenneth Carnesi, BC '07, and Jonathan Rust set out to provide a new solution. Less than a year ago, in June 2007, they founded Anaptyx with the aim of reducing the cost of residential Internet for thousands by introducing community-based Wi-Fi networks that share broadband to apartment and condominium complexes across the country. Just in this short time frame, Carnesi and Rust now have over 1,000 units covered under their community Wi-Fi networks.
At the forefront of growing community-based Internet movements, Ken and Jon operate their networks using hardware from the Google-funded startup, Meraki Networks.
Through their own research and development and a close relationship with Meraki, they are able to assure their networks are constantly improved to stay ahead of the wireless tech curve. Recent developments from Ken have included a Macintosh-based network statistics program called iMesh and a security router that is the cheapest available on the market. This allows even the smallest organizations to adhere to current homeland security communication regulations. From Jon, we can see ongoing research on broadcasting video and other forms of communication wirelessly.
Together, Ken and Jon hope these developments will eventually allow them to provide wireless Internet, voice, and television in apartments and condos for less than $30 per month without any additional equipment needed in your home … now that is a serious value proposition. Community-based Internet is an idea that has been growing steadily over the last few years. As municipal wireless networks such as Earthlink's Philadelphia venture become unprofitable and lose funding, however, one can see the distinct advantages of apartment/condo-based Wi-Fi and the potential and value of shared broadband.
If Anaptyx has its way, you will no longer have to wait around for a cable guy or be without internet when you move into a new place; their Wi-Fi networks are included in the rent just like heat and hot water. No contracts to sign, no equipment to buy. The amazing part is that it allows tenants to collectively save thousands per year. Not only that, but did I mention that their technology is also green? Every 100 units saves over a quarter mile of non-biodegradable cabling, 500 pounds of plastics, $2,600 in annual electrical costs, and 8 tons of CO2 emissions. Their business model not only offers a great value proposition for tenants of hassle-free wireless and a new marketing play for landlords, but it clearly brings value to the entire community and planet to save energy and waste.
I look forward to following this fresh, innovative company and have faith that they have the potential to be wildly successful. It is no wonder that they are already poised to accept partial buyout offers for funding with a five-year valuation of over $10 million.
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