| Founded | January 1998; 27 years ago (1998-01) |
|---|---|
| Founders | Christopher R. McCleary Chris Poelma |
| Defunct | October 20, 2006; 19 years ago (2006-10-20) |
| Fate | Acquired byAT&T |
| Headquarters | Annapolis, Maryland |
USinternetworking, Inc. (USi) was anapplication service provider. It offered outsourced business applications delivered over the Internet or a private network connection for an installation charge and a flat monthly fee. In October 2006, it was acquired byAT&T.
The company was founded in January 1998 byChristopher R. McCleary, Chris Poelma and Stephen McManus
Early investors included Grotech[1] andUS West.[2]
In February 1998, the company pursued a merger withPSINet but was rejected.[3]
In May 1998, the company signed a lease for its 24,000 square foot office.[4]
On April 9, 1999, during thedot-com bubble, the company became apublic company via aninitial public offering. Shares rose 174% on the first day of trading, ending the day at $57.50 per share.[5][6]
On April 26, 1999, the company was named the first certifiedBroadvision application service provider.[7]
In November 1999, the company announced an agreement to developMicrosoft Office 2000 as an online service.[8]
In July 2000, founder Christopher R. McCleary resigned aschief executive officer of the company and was replaced with Andrew Stern.[9]
In August 2000, the company acquired EnableVision.[10]
By July 2001, after the bursting of the dot-com bubble, shares were trading for $1 each.[11]
In January 2002, the company filedbankruptcy. It emerged in May 2002 with financing fromBain Capital and a merger with Interpath.[12][13]
In September 2003, Stephen A. Mucchetti was namedchief operating officer of the company.[14]
In June 2004, the company acquired Appshop for between $40 million and $50 million.[15]
In October 2006,AT&T acquired the company for $300 million.[16]
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