Google, Skype and other investors invested $21.7 million in Fon, a Spanish startup company. Fon's main goal is to create a global network of 1 million shared Wi-Fi hotspots by 2010.
The idea behind Fon, which was founded three months ago by telecom entrepreneur Martin Varsavsky, is to create a global network of users called "foneros" that will be able to connect to the Internet using Wi-Fi hot-spots provided by other foneros.
The company says it's following Skype's download-and-install model and plans to generate revenue from multitiered subscriptions. Members will fall into one of the following categories: Linus, Bill, or Alien.