FreedomPop Raises Money to Fund its Expansionist Plans

FreedomPop has recently embarked on an expansionist plan that aims to see it expand its market both locally and internationally. The company has received numerous funding from confident investors who believe in the profitability and growth of the mobile virtual network Operator (MVNO). The company CEO, Stephen Stokols, recently granted an interview to RCRwireless News about the expansion plans while giving some insight into the company’s operations.

FreedomPop runs on a cellular service that is provided by Sprint. Within the past year, the MVNO has acquired a lot of money in VC funding. The money will be used to fund extensive networks of international and domestic expansion plans. The newly infused cash has allowed the firm to remain independent after rumors of potential acquisition surfaced last year.

Stokols expressed confidence that the firm’s business model was well suited to allow it to compete favorably in the market. He also revealed FreedomPop’s future plans. The company was started in 2011and offers free mobile services to users in Europe and the United States.

Other News

The FCC reportedly leveled a $1.4 million fine imposed on Verizon after it acknowledged a supercookie embedded on the mobile internet traffic used by its customers. However, the company announced that it will allow customers to opt out of the target advertising program.

T-Mobile got $2 billion in financing to be used in its participation in a 600 MHz auction. The company had reported that was accruing funds for months in anticipation of the spectrum auction. Deutsche Telecom, T-Mobile’s parent company, pledged to offer additional funds required by purchasing T-Mobile’s senior notes.

Lastly, RootMetrics released a report on market comparison for its cellular network performance. The report revealed that Atlanta, Chicago and Indianapolis topped the top three positions. Hudson valley and Omaha were the two worst performing markets respectively.

Originally reported on RCRwireless News:

One thought on “FreedomPop Raises Money to Fund its Expansionist Plans

  1. Analysts expect the company to spend as much as $10 billion for spectrum licensing in the scheduled auction’s proceedings. It also revealed that it would bid aggressively. This will be the best way for to get back on their feet and make sure nothing happens to them at all.

Comments are closed.