View source for @Home Network

{{Short description|Defunct cable internet service}}
{{For|@home projects in computing|distributed computing}}
{{More citations needed|date=June 2007}}
{{Infobox company
| name = @Home Network
| logo = @home logo.png
| type = [[Subsidiary]]
| fate = Bankruptcy
| successor = [[Ziggo]]
| founded = {{Start date|1996|7|11}}
| founder = [[William Randolph Hearst III]]
{{Age in years, months, and days|2001|10|1|{{CURRENTYEAR}}|{{CURRENTMONTH}}|{{CURRENTDAY}}}}
| hq_location_country = [[United States]]
| industry = [[Telecommunication]]
| key_people = William Randolph Hearst III ([[Chief executive officer|CEO]])
| products = [[Broadband Internet access]]
| num_employees = 1,350
| subsid = [[Excite (web portal)|Excite]]
| website = {{web archive|url=https://web.archive.org/web/20000229132906/http://www.home.com/|title=home.com}}
}}
'''@Home Network''' was a high-speed [[Cable modem|cable]] [[Internet service provider]] from 1996 to 2002. It was founded by Milo Medin, cable companies [[Tele-Communications Inc.]] (TCI), [[Comcast]], and [[Cox Communications]], and [[William Randolph Hearst III]], who was their first CEO, as a joint venture to produce high-speed cable Internet service through two-way television cable infrastructure. At the company's peak, it provided high-speed Internet service for 4.1 million subscribers in the United States, Canada, Japan, Australia, and the [[Benelux]] nations (Belgium, Netherlands, Luxembourg). The company operated as four joint ventures, three of which were international. In 1999, the company acquired [[Excite (web portal)|Excite]]. In 2001 the original US company filed for bankruptcy in the US courts. During the bankruptcy process, the Japanese partner bought the @Home trademark for use in Japan and the Benelux partner bought the @Home trademark for use in Europe.

==History==
{{unreferenced section |date=January 2018}}
The passing of the [[Telecommunications Act of 1996]] enabled cable companies to start offering [[Voice over IP|Internet telephony]] services to customers.

The company's first VP of engineering and later [[chief technology officer]] was Milo Medin, and the company got its start from [[venture capital firm]] [[Kleiner Perkins Caufield & Byers]].{{citation needed|date=January 2018}}

In December 1998, [[Excite (web portal)|Excite]] was in merger negotiations with [[Yahoo!]] inc in an agreement to purchase the Excite portal for a price between $5.5 billion and $6 billion. On December 19, at [[Kleiner Perkins]] prompting, @Home Network's [[Chairman]] and [[Chief Executive Officer]] Thomas Jermoluk met with Excite's chairman and CEO George Bell, according to documents filed with the SEC, and a deal was hashed out for the purchase of Excite and its debt.{{citation needed|date=January 2018}}

On January 19, 1999, @Home Networks acquired the Internet portal Excite. The $6.7 billion merger became one of the largest mergers of two Internet companies ever; the combined entity would marry @Home's profitable high-speed Internet network of @Home and expand its existing Home.com portal with Excite's money-losing search engine and Internet portal. The combined entity's external name became Excite@Home, however the stock symbol and regulatory filing records remained properly known as At Home Corporation (ATHM).{{citation needed|date=January 2018}}

As a side effect of the deal, @Home's chairman and chief executive George Tom Jermoluk (also called T.J. for short) stepped down as chief executive officer but remained chairman of the board, and Excite's former chairman and chief executive George Bell, who was the president of the Excite division of @Home, moved over as chief executive of the new Excite@Home entity.{{citation needed|date=January 2018}}

The new Excite division took the existing @home.com web portal that was provided to service subscribers and merged it with the Excite portal. Along with this was the movement toward personalized web portal content, a concept now commonplace in all Internet portals today.{{citation needed|date=January 2018}}

In just months following the merger, Excite@Home's Excite division purchased iMall for about $425 million in stock. Most significant of these was the purchase of the online greeting card company [[Blue Mountain Arts]], Excite@Home issued 11.2 million shares, worth close to $430 million, and paid $350 million in cash. In addition, Excite paid for sponsorship of [[Infiniti]] [[Indy Racing League|IndyCar]] driver [[Eddie Cheever, Jr.]], through the 2000 and 2001 Indy racing seasons for an undisclosed amount.{{citation needed|date=January 2018}}

On June 10, 1999, the @Home cable division announced a joint venture with Australia with [[Optus|Cable & Wireless Optus]] to form a new company, AtHome Network Australia. The projected homes passed for the deal was 2.2 million.{{citation needed|date=January 2018}}

The merger between Excite and @Home fell disastrously short of expectations. The stock which once soared at $128.34 a share in the first quarter of 1999 and had a market cap of $35 billion had fallen to $1 a share by the third quarter of 2001 when the company formally filed for [[Chapter 11]] bankruptcy protection. The new Chief Executive George Bell worked from his home in [[Massachusetts]] and the Chief Financial Officer Mark McEachen lived in [[Los Angeles, California|LA]], flying in only once per week to the [[Bay Area]] to conduct business. Both executives were part of the former Excite executive team. More significantly, expenses ran far ahead of revenues. The burst of the [[dot-com bubble]] in March 2000 and the subsequent collapse of the [[Internet advertising]] market further limited the company's prospects by making it harder to raise investor money to keep the company afloat in the absence of retained earnings. By 2001, the company was running out of cash.{{citation needed|date=January 2018}}

On September 21, 2000, George Bell stepped down as chief executive officer and reprised his role as president of the Excite division. The stock was trading at $15.38 a share, a drop of 90% of the company's evaluation during his leadership. On April 23, 2001, [[Patti S. Hart]], the former chief executive officer of Telocity joined Excite@Home as its third CEO and @Home's fourth. In the same announcement, the outgoing chairman George Bell resigned and left the company completely. The news was not good, as the company also reported a first-quarter net loss of $61.6 million, or 15 cents per share, on revenue of $142.8 million compared with a loss of $4.6 million, or 1 cent, on revenue of $138 million in the same period the prior year.{{citation needed|date=January 2018}}

[[File:Excite@Home headquarters for sale.jpg|thumb|right|Excite@Home headquarters for sale. The buildings have since been re-purposed as a medical facility.]]
On June 11, 2001, Excite@Home announced that it had raised $100 million in fresh financing from Promethean Capital Management and [[Angelo Gordon & Co.]] Part of the deal not widely disclosed was that the loan was repayable immediately if Excite@Home stock was delisted by [[Nasdaq]]. The loan, structured as a note convertible into shares of Excite, had an interest rate of zero. The key aspect of the deal was that Promethean gained first dibs on Excite's assets.{{citation needed|date=January 2018}}

By August 20, 2001, @Home fired their auditor firm [[Ernst & Young]], replacing them with [[PricewaterhouseCoopers]]. In addition, they received a demand for the immediate repayment of $50 million in debt by bondholders Promethean Capital Management and Angelo Gordon & Co. At the same time, both Cox Cable and Comcast announced that they would separate from the broadband Internet service by Q1 of 2002.{{citation needed|date=January 2018}}

On September 13, 2001, Excite@Home sold [[Blue Mountain Arts]] for $35 million to [[American Greetings]], less than 5% of what they had paid less than two years earlier.{{citation needed|date=January 2018}}

On October 1, 2001, the company filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the Northern District of California. The company's remaining 1,350 employees would be [[laid off]] over the following months into the first quarter of 2002. As part of the agreement, @Home's national high-speed fiber network access would be sold back to AT&T for $307 million in cash. At Home Liquidating Trust became the successor company to Excite@Home charged with the sale of all assets of the former company.{{citation needed|date=January 2018}}

After the company's demise, the four Excite@Home headquarters buildings at 450 Broadway Street in [[Redwood City, California]], were purchased by Stanford University Medical Center, greatly remodeled, and reopened as the new home of the Stanford Medicine Outpatient Clinics in 2009. The shells were largely preserved, but the interiors are completely new, providing facilities that had been unavailable in the [[Palo Alto, California|Palo Alto]] location. The buildings, plainly labeled ''Stanford Medicine,'' are easily visible from the freeway, U.S. 101, where the buildings labeled ''Excite@Home'' had previously been.{{citation needed|date=January 2018}}

==Features==

Features of the @Home network were fairly standardized from one cable provider to another cable provider. All users of the service were granted email addresses which were ''(username)'''''@home.net'''. Users were also given a special content-rich start page on the Internet, which was specifically created for broadband speeds at a time when very few websites on the Internet were geared towards broadband users. Users were also granted access to other Excite websites such as Blue Mountain and their greeting card by email service. Also as part of the @Home experience, users were provided with a special Excite@Home [[web browser]] which was essentially an @Home re-branded version of [[Mozilla Firefox]] with Excite@Home enabled features built within the browser. Additionally, besides the web browser users could also download the Excite@Home powered Instant Messenger, and @Home Assistant desktop widget, which had features like Excite's Search and current [[wire service]] news, along with an [[Internet radio]] portal known as "TuneIn" (which has no connection or relation to the [[TuneIn|current-day streaming provider of the same name]]).

==Cobranded @Home services==

*AT&T@Home (formerly TCI@Home before the purchase of TCI by AT&T)
*Charter@Home
*Cogeco@Home
*Comcast@Home
*Cox@Home
*Optimum@Home
*Intermedia@Home
*Rogers@Home
*Shaw@Home
*SusCom@Home
*Optus@Home
*Videon@Home

In total Excite@Home offered services to a total of 16 affiliates across the United States and Canada. This included: [[Cablevision Systems]], [[Adelphia Cable|Century Communications]] <!--(not to be confused with the unrelated cable and internet provider [[CenturyLink]])-->, [[Charter Communications]], [[Cogeco Cable]], [[Comcast]], [[Cox Communications]], [[Garden State Cable]], [[Time Warner Cable|Insight Communications]], [[InterMedia Partners]], [[Jones Intercable]], [[Midcontinent Communications|Midcontinent Cable]], Prime Cable, [[Rogers Cable]]systems, [[Shaw Communications]], [[Suburban Cable]], [[Susquehanna Communications]], and [[Videon Cablesystems]] with access to over 60 million households.

==@Home Benelux==

In 1999, @Home Network founded @Home Benelux BV, together with Intel Corporation and the (now former) Dutch companies EDON NV & Palet Kabelcom BV. @Home Benelux BV was based in Amsterdam. Later, N.V. Energie-Distributiebedrijf Oost- en Noord-Nederland (EDON) (then called [[Essent]]) got full ownership of @Home Benelux BV, and the company was called Essent Kabelcom. In February 2007, Essent sold Essent Kabelcom to private equity firms [[Warburg Pincus]] and [[Cinven]], and the company was once again called @Home (now without the 'Benelux'-part).<ref>{{Cite news|url=https://www.cinven.com/media/news/060803-cinven-and-warburg-pincus-to-acquire-essent-kabelcom-kabelcom/|title=Cinven and Warburg Pincus to acquire Essent Kabelcom ("Kabelcom")|date=3 August 2006|work=Cinven - Focused European Integrated World-class|access-date=2018-06-03|language=en-GB}}</ref><ref>{{Cite web|url=https://www.internationallawoffice.com/Newsletters/Competition-Antitrust/Netherlands/De-Brauw-Blackstone-Westbroek/Authority-Clears-Creation-of-Countrys-Largest-Cable-Company|title=Authority Clears Creation of Country's Largest Cable Company|date=8 February 2007|website=www.internationallawoffice.com|access-date=2018-06-03}}</ref><ref>{{Cite web|url=https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011M6369|title=EUR-Lex - 32011M6369 - EN - EUR-Lex|website=eur-lex.europa.eu|language=en|access-date=2018-06-03|quote=Essent Kabelcom [was] acquired by Cinven and Warburg Pincus [in] 2006}}</ref> On May 16, 2008, @Home merged with cable providers [[Casema]] and Multikabel into [[Ziggo]], thus becoming the largest cable provider of [[The Netherlands]].

==Chief executive officers==

*[[William Randolph Hearst III]] 1996{{ndash}}1997
*Thomas Jermoluk 1997{{ndash}}2000
*George Bell 2000
*[[Patti Hart|Patti S. Hart]] 2001{{ndash}}2002

==Joint ventures==

*Cable & Wireless Optus
*[[Chello]]
*Excite Chello
*@Work
*@Home Solutions

== References ==
<references />

==Further reading==
* Frank Rose, [https://www.wired.com/wired/archive/10.01/excite.html "The $7 Billion Delusion,"] ''Wired Magazine,'' Jan 2002.

==External links==
* {{web archive|url=https://web.archive.org/web/20000229132906/http://www.home.com/|title=Official website}}
*[https://web.archive.org/web/20070419115342/http://www.nethome.jp/ @NetHome Japan]
*[http://www.smartcomputing.com/editorial/article.asp?article=articles/archive/g0903/59g03/59g03.asp&guid= Review: Excite@Home – The Joy Of Broadband Access]
*[http://news.cnet.com/2009-1033-846668.html Family feud: Excite@Home, AT&T: A case study in boardroom politics]
*[https://web.archive.org/web/20000520222649/http://www.businessweek.com/bwdaily/dnflash/jan2000/sw00119.htm All Shook Up over Excite@Home]

{{CATV Canada}}
{{CATV USA}}
{{Internet service providers of the United States}}
{{Canadian ISP}}

{{DEFAULTSORT:Athome Network}}
[[Category:American companies established in 1996]]
[[Category:Telecommunications companies established in 1996]]
[[Category:Internet properties established in 1996]]
[[Category:Telecommunications companies disestablished in 2001]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 2001]]
[[Category:Defunct Internet service providers]]
[[Category:Private equity portfolio companies]]
[[Category:Dot-com bubble]]