More investors have joined a plan for a high-speed trans-Pacific internet cable, including Australian-based businessman and former All Black captain David Kirk.
Pacific Fibre has been set up by Trade Me's Sam Morgan, The Warehouse's Stephen Tindall, and Rod Drury of Xero to establish a high speed fibre cable linking New Zealand, Australia and the US, and tap into New Zealanders' fast-growing internet demands.
In addition to Mr Kirk, economist Gareth Morgan, Seaworks chairman Bill Day and MYOB founder Craig Winkler are now on board, raising another $1 million.
Pacific Fibre chief executive Mark Rushworth says Mr Kirk's appointment as a director is important as it builds its presence across the Tasman.
Mr Rushworth says the cost of the project has come down from $900 million to $500 million and it fall further.
He says he hopes to announce the first customers in the next couple of months.
