Sunbeach was badly affected by the financial crisis of 2008 leading to halted VC investments and the link disconnection on 23 March 2013 [1].
Founded by Bruce Bayley, Damian Dunphy [2] and Leonardo Kunar [3] in November 1995 as an Internet service provider (ISP) in Barbados to compete against Caribsurf [4](the brand name used by Cable and Wireless for Internet service provision in the Caribbean) and CaribNet, the first ISP launched in the Eastern Caribbean by Ian Worrell which grew out of the bulletin board system (BBS)"The Junction BBS".
In January, 2002 it was made public that Sunbeach and the UK based Telecommunications Company called International Telecom Brokers Limited (ITB) were contemplating and formulating a strategy to merge.
The purported advantages of the merger was that Sunbeach in Barbados could draw from the experience of the UK team and have a far more expanded international reach.
Personnel at the companies tried to allay fears and promise that the merger will create an increase of jobs, lead the company on an international path, as well as joint listings on the Alternative Investment Market (AIM) of the London and [5] Barbados Stock Exchange (BSE) and also that new investors from the United Kingdom would help raise needed funding for establishing a local 3G GSM mobile phone network.
Following this, on 28 September 2004 Sunbeach Communications had its shares suspended on the Barbados Stock Exchange because of the serious financial position of the company until the Annual General Meeting could be held with shareholders.
In November 2006 the suspension on Sunbeach's shares were lifted - see the Barbados Stock Exchange website for information [6] and a block trade announced bringing a new major shareholder and partner on board (VTel Holdings).
In February 2009 a new board was elected to Sunbeach and Mr. Banan al Khatib took over as the managing director, replacing Mr. Ian Worrell who stayed on as the Chief Commercial Officer.
Past clients include the CWeek, Daily NationNews and Advocate newspapers, the Government of Barbados and several organisations around the island.
Their current CEO - Dr. Joseph Laquis, a general practitioner and ex politician is heading the company and Mr. Richard Nixon - ex sales executive from Nortel is their COO.