I had a chance to meet with Joanna Rees, who is not only a venture capitalist with VSP Capital but also the Chief Fonera of Fon USA. Oh, and she sits on the boards of companies like Posit Science, Sabrix, AccountNow, Danger, QuinStreet, The Threshold Group and NVCA.
No doubt, we had a lot to talk about – especially Fon, which is a peer-to-peer system to share WiFi services. Investors include biggies like Google (NASDAQ: GOOG), Skype, Index Ventures, Sequoia Capital, and so on.
And, this week, Fon received an additional $9.5 million in venture capital.
Basically, Fon has a unique business model. That is, if you allow free broadband access on your computer, you can get free access when you roam. Or, if you don't want free access, you can pay for it from fellow Foneros. So far, there are about 170,000 routers on the Fon system.
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