Mountain View, February 06, 2024, The Europe Today: Alphabet, the parent company of Google, has announced its intention to seek external investment for GFiber, its business dedicated to providing Wi-Fi and internet connectivity in select regions of the United States. The move, disclosed to Reuters on Monday, is part of Alphabet’s strategic efforts to accelerate the expansion of GFiber services to additional cities.
GFiber, in direct competition with major internet service providers such as Comcast, Verizon Communications, and AT&T, has been a subsidiary of Alphabet since its inception. Originally launched in Kansas in 2012 with a commitment to enhancing internet speeds through fiber-optic cables, GFiber has gradually expanded its footprint to cover 15 states over the past 14 years.
According to GFiber representatives, the company has experienced significant growth over the past six years, tripling its customer base. Although specific user numbers were not disclosed, GFiber has entered into agreements in 2023 that aim to extend its services to more than 25 additional cities.
Despite its commendable growth, GFiber acknowledges the competitive landscape posed by industry incumbents and recognizes the need for external investment to further its expansion plans. The company has set its sights on overcoming challenges and extending its reach, particularly in areas where internet services are yet to be provided, including six of the 10 most populous cities, notably New York.
This strategic move by Alphabet to seek external funding for GFiber reflects the company’s commitment to pushing the boundaries of internet connectivity and providing high-quality services to a broader audience. As Alphabet charts the next phase of GFiber’s growth, the infusion of external investment is poised to play a pivotal role in shaping the future landscape of internet services in the United States.