FreedomPop is not your traditional mobile phone carrier network. In a recent couple of months, the company has been giving main and traditional MVNO carriers a headache. The company is well-known when matters related to giving away data bundles, text and voice are concerned. The company also offers up sells on extra voice minutes as well as voicemail. Different with other similar companies who buy bulk data and then resell to their customers at a cheap margin, FreedomPop negotiates with data re-sellers and pays for only what its customers use.
In the very recent development, the company has raised not less than $50 million for expansion purposes. The amount is to enable it roll out beyond just the US market and help in launching its international products as well. Among the products is a brand new free WiFi hot spot that it plans to sell at only $49.99 and it will give users access to free data and calls across multiple regions.
Contrary to its earlier similar funding, FreedomPop did not disclose the investor. However, the company CEO said that it is a very large private-equity group and investor. The reason the company does not want to reveal the name as yet is because it is at an advanced stage to integrate the company with another mobile phone services company.
With the latest funding, the company has almost approached the $1 billion valuation mark. In total, the company has been able to bring its total funding to not less than $109 million. The latest investment partner is in plans to integrate the company with other assets in its portfolio. The company CEO says that its expansion in the international market has been very strong and that it plans to improve.
FreedomPop is a wireless mobile phone and internet service company based in Los Angeles, California. The company is phenomenally known for providing wireless voice, data and text services on both Sprint’s and Clearwire’s networks.
So far, the company has been able to expand to the international markets like the UK where it has been received very positively. The company was founded in 2011, and it has made very noticeable steps in its service delivery. It has also managed to launch its line of cheap phones that are compatible with its network. However, the most important thing is the fact that it is nowadays recognized as a main player in the mobile phone industry and one who has managed to turn the market around when it comes to offering low prices.