The Role of Investor Funds in FreedomPop’s Expansion

Many upcoming firms especially in the telecoms sector find it difficult to expand due to lack of capital injection. Such funds help the startups to expand operations to frontiers that were previously unexplored. Due to stiff competition in the sector need money to acquire the latest technology so that they can fairly compete in the marketplace with more established firms. FreedomPop is one of the firms banking on this latest craze. It recently embarked on a go-getting growth plan, which is likely to see it take the sector by storm.

During a recent media interview, the firm’s co-founder and Chief Executive Officer Stephen Stokolos shared his insight about where the company is headed. He acknowledged that the virtual mobile network provider had snapped up funding amounting into tens of millions of dollars over the past few months. This money was raised from investor funding and played a significant role in its extensive local and global development strategies. The money was also used to keep the company afloat and independent amid the takeover rumors, which have dogged it in the past. This was originally reported on RCR Wireless. For further reading, click on this link: http://www.rcrwireless.com/20160309/carriers/freedompop-rides-vc-funds-towards-expansion-tag2

FreedomPop in Summary

The firm was founded in 2011 by visionaries who wanted to provide free mobile services. It is based in Los Angeles, California and provides free mobile services including free data, text and voice. It is also in the business of retailing mobile phones, tablets and broadband gadgets such as modems and Internet routers.

Since its inception, FreedomPop has managed to garner almost 110 million dollars in funding. The company is backed by major corporations including Intel, Partech Ventures and Mangrove Capital. It also utilizes Sprint’s connections for its operations in the US. In line with its plans to expand into the global scene, its management recently announced that the company is branching out to the UK.

FreedomPop Strikes Deal with Motorola

FreedomPop is rapidly ascending the charts in terms of popularity for alternative mobile carrier options in the United States. The company was started out in L.A. back in 2011 and since then they’ve picked up great partnerships, heavyweight investors, and solid expansion plans in order to broaden their reach. With one million stateside subscribers and counting, it only makes sense that CEO Stephen Stokols wants to increase his grasp on his demographic while he has their attention. So in order to bring in an influx of new customers FreedomPop has struck a deal with Motorola in order to offer their Moto E (2nd gen) phone, according to Android Authority.

FreedomPop hasn’t quite implemented their own brand of FreedomPop phones yet so the move to incorporate Motorola into their business makes a ton of sense. Subscribers who want in on FreedomPops revolutionary free phone plan can get the Moto E for only $49.99. The Moto E deal will give subscribers a free month of premium FreedomPop usage (unlimited talk, text, along with expanded data allowances). This deal is comparable and even better than most premium plans for twitter followers by more established companies on the market. Consider U.S. Cellulars basic phone plan with 1 GB of data: $60 a month, not including your phone choice.

For those unfamiliar with the FreedomPop business design, this plan will be a great entry into the system. FreedomPop is changing the way that MVNO companies operate by putting the onus of earning on the company, not the customer. FreedomPop offers their basic plan completely free to subscribers. This plan includes 200 minutes of talk, 500 texts, and 500 MB of data — free with no strings attached.  Without any infrastructure in place, FreedomPop doesn’t have to nickel and dime their customers every step of the way with their phone plan.