NorthPoint Communications (Former NASDAQ: NPNT) was a CLEC (competitive local exchange carrier), focused on data transmission rather than voice. Its business plan involved leasing copper telephone lines from local phone companies, then selling them at wholesale prices to Internet service providers, which in turn sold business and residential DSL service.
NorthPoint's stock IPO occurred on May 5, 1999 at $24 a share, with the ticker NPNT.
NorthPoint grew its business quickly, and was a darling of the dot-com boom of 1999-2000.
Read more about NorthPoint Communications: Profitability Concerns Scuttle Merger Agreement With Verizon, Bankruptcy