Novatel Wireless later made the MiFi, the pocket hotspot that turned a cell signal into Wi-Fi for anyone nearby. In November 2000, when it went public, that was years away. The San Diego company sold wireless modems that let laptops and handheld computers reach the internet over cell networks. Those networks were slow and mobile data was costly, but carriers were promising faster service soon.

Modems for the Road

Novatel Wireless was formed in 1996 to build wireless data devices. Its early products were modem cards that slid into a laptop and connected to a cellular network. The bet was that business travelers would pay to stay online away from the office. The company sold through carriers and device makers, so its fortunes rose and fell with each new generation of cell networks.

Hotspots, Then Inseego

Novatel Wireless priced its IPO at $8 a share in November 2000 and listed on Nasdaq as NVTL, just as the tech crash began. It survived on carrier deals and launched the MiFi hotspot with Verizon in 2009. In 2016 it reorganized as Inseego and focused on 5G hotspots and fixed wireless gear for businesses. It still trades on Nasdaq as INSG and has agreed to buy Nokia's fixed wireless access business.

Cover: At Sea—Signalling a Passing Steamer, Winslow Homer. Art Institute of Chicago, public domain. Chosen for signalling at sea (wireless messages).