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Chamath Palihapitiya of Social+ Capital Partnership speaks onstage at the Tech, Crunch Interfere With NY 2013 at The Manhattan Center on April 29, 2013 in New York City City. (Picture by Brian Ach/Getty Images for Tech, Crunch) Brian Ach/Getty Billionaire investor Chamath Palihapitiya is already working on bringing internet access to Sri Lanka and the Philippines, but now he has US telcos in his crosshairs.
Called Rama, the new corporation has been working for more than a year and is already licensing spectrum in Sri Lanka. While Lotus, Flare has been the headliner in a collaboration with Google to bring web to the developing world, Rama will be developed into the provider while Lotus, Flare will concentrate on the software.
Palihapitiya's opportunity to overtake AT&T and Verizon comes this spring, when the Federal Communications Commission is having a brand-new auction for what Palihapitiya refers to as "beachfront" realty. The business would need to spend between $4 billion and $10 billion to contend. Palihapitiya informed Business Insider after his talk that he's earmarked the cash and "recognizable" names will be a part of it.
Palihapitiya wants Rama to be a brand-new, modern provider one that can do things like simple billing and isn't stuck in a tradition structure. Part of his plan involves installing microcells in consumer's houses to blanket the nation, however also making it as easy as buying a cellphone to register for it.