FreedomPop Is Swinging For The Fences
FreedomPop is quickly becoming the world’s leading mobile virtual network operator (MVNO.) Customers that picked up their service before November 27th received large discounts on their phones and services rendered. The Phones included refurbished models of the Motorola E at $40 and the Samsung Galaxy S4 for $100. The difference in prices are $190 and $350 lower respectively. This deal was wrapped up with their monthly free plan of unlimited talk, text and 1 gigabyte of data. After the promotion is over the plan will go back to 500 megabytes of data, 500 texts and 500 talk minutes, all of which are in the free plan.
FreedomPop recently received an undisclosed amount of financial backing from Intel Capital, which it plans to use for expansion into Wi-Fi first model phones. This was an investment that was received almost immediately after a previous 10 million dollar investment from the Axiata Group. This company serves over 230 million customers and clearly has an interest in the future success of FreedomPop. This Los Angeles based company has global aspirations and it shows. They’ll soon be running on the Uk’s Three network as well. This is sure to be a profitable move.
The company was co-founded by Stephen Stokols and Steven Seser. Back in April of 2013 they expanded by partnering with Sprint to expand to 3G and 4G Sprint compatible devices. If the momentum being generated continues for them, they are virtually guaranteed to be #1 in the Wi-Fi first movement for years to come. The companies that are getting involved here are no small spenders. They have the backing and the credibility to boot. Mangrove Capital, DCM Capital and Partek Ventures are also interested to the tune of a cool $30 million. These are not the only interested parties either.
In the years to come, who knows how many irons will be in the fire. One thing is for sure though, FreedomPop is making a big impression on a lot of big name companies. If this is to be the next thing in phone marketing, then they are well on their way to hitting their goals. With the main goal being to generate “massive value” in the next 12-24 months, they seem to be on track.