Digex
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| Fate | Acquired by Worldcom |
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| Headquarters | Laurel, Maryland, United States |
Key people | George L. Kerns, CEO & President T. Scott Zimmerman, CFO |
| Services | Internet service provider |
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| Total equity |  -$42 million (2002) |
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| Footnotes / references [1] | |
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Digex, Inc. was one of the first Internet service providers in the United States.
During the dot-com bubble, its stock price rose to $184 per share; the company was acquired for $1 per share a few years later.[2]
History
Digital Express Group, predecessor to DIGEX, was founded by Doug Humphrey and Mike Doughney in the basement of Mr. Humphrey's townhouse in Greenbelt, Maryland in 1991, offering web hosting services and Internet access.[3]
In 1995, the company raised $8 million from Grotech Capital and Venrock.[3]
In October 1996, the company became a public company via an initial public offering.[4] The company employed 260 people by that year.[5]
In 1997, the company was acquired by Intermedia Communications, a competitive local exchange carrier based in Tampa, Florida.[6][7]
In 1999, Intermedia completed the partial corporate spin-off of Digex.[8]
In 2000, Microsoft and Compaq invested $100 million in Digex.[9]
In September 2000, WorldCom acquired Intermedia Communications and gained a majority stake in Digex.[10]
In 2003, WorldCom acquired the remainder of the company.[11]
Verizon acquired Worldcom in 2006 and integrated the company into Verizon Business.
Streaming media
In 1995, Digex launched ISP-TV, a network of linked CU-SeeMe videotelephony servers from multiple ISPs to provide for large-audience webcasts via streaming media.[12]
In 1996, ISP-TV began producing original video content in one of the first "cyberstudios" in Laurel, Maryland. Shows included "Angry Girl" a show hosted by Humphrey's wife, "Wired for Cinema" a film review show, "Head" (a beer show) and "Meeks Unfiltered" with MSNBC correspondent Brock Meeks.[13]
Digex also streamed Bud Bowl during the Super Bowl for Anheuser-Busch.[14] In 1999 Apple hired Digex to stream the Star Wars trailer in QuickTime format. This industry first saturated the internet bandwidth at the time but proved that video streaming had a future.
References
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- ^ Page Module:Citation/CS1/styles.css has no content."DIGEX, INCORPORATED 2002 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ Page Module:Citation/CS1/styles.css has no content.Handley, John (2005). Telebomb. Amacom. ISBN 9780814428894.
- ^ a b Page Module:Citation/CS1/styles.css has no content.Swisher, Kara (April 10, 1995). "DIGEX FLOURISHES WITH INTERNET'S POPULARITY". The Washington Post.
- ^ Page Module:Citation/CS1/styles.css has no content.Mullaney, Timothy J. (October 18, 1996). "Digex initial stock offering sells 4.5 million shares Md. Internet provider is worth $125.4 million". The Baltimore Sun.
- ^ Page Module:Citation/CS1/styles.css has no content.Starzynski, Bob (October 11, 1996). "High-tech firms head to market". Washington Business Journal. Archived from the original on November 28, 2002. Retrieved November 20, 2023.
- ^ Page Module:Citation/CS1/styles.css has no content."Intermedia Will Acquire Digex In a $147 Million Stock Swap". The Wall Street Journal. June 5, 1997.
- ^ Page Module:Citation/CS1/styles.css has no content."Md.-based Internet company agrees to be acquired". Washington Business Journal. June 5, 1997. Archived from the original on September 26, 2002. Retrieved June 6, 2025.
- ^ Page Module:Citation/CS1/styles.css has no content.Noguchi, Yuki (September 6, 2000). "Deal to Give WorldCom Control of Digex". The Washington Post.
- ^ Page Module:Citation/CS1/styles.css has no content."Microsoft, Compaq invest $100M in Digex". American City Business Journals. January 12, 2000.
- ^ Page Module:Citation/CS1/styles.css has no content.Deogun, Nikhil; Solomon, Deborah (September 5, 2000). "WorldCom Closes Deal to Buy Intermedia, Gaining Control of Web-Hosting Business". The Wall Street Journal.
- ^ Page Module:Citation/CS1/styles.css has no content.Clabaugh, Jeff (November 17, 2003). "WorldCom buys out Digex in dollar sale". American City Business Journals.
- ^ Page Module:Citation/CS1/styles.css has no content.Neely, Esme (October 12, 1997). "Faster connections should boost use of video calls". American City Business Journals.
- ^ Page Module:Citation/CS1/styles.css has no content.JOSSI, FRANK (May 1, 1997). "Live, from Cyberspace". Wired.
- ^ Page Module:Citation/CS1/styles.css has no content."Internet Pioneer and Co-Founder of Digex, Doug Humphrey, Joins Savtira Advisory Board" (Press release). PRWeb. March 23, 2012.
