FreedomPop Raises Venture Capital for Expansion Plans

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FreedomPop is a company that has achieved a great deal of success in a very short period of time. Since the company’s initial debut in the budget mobile phone market, the number of subscribers has grown and grown. About one million of those subscribers are in the United States. In the United Kingdom, about 250,000 subscribers signed up within four months of the company’s debut.

A new round of venture capital (VC) funds are slated to drive even greater expansions. The CEO of the company, Stephen Stokols, has given an online video interview to discuss the impressive growth of the company.

Most recently, the company has raised $50 million in new funding. Several interesting projects are in the works. A Wi-Fi mobile phone is in development, and many are looking forward to its arrival. Probably the most interesting of all news coming out of the new round of funding is the intention to expand service into 25 countries. Currently, all the deals are being put in place, and these countries should all be available to customers soon. Additionally, a global hotspot is being devised. Those wishing to save money are going to find the hotspot’s ability to wipe out roaming charges.

One may wonder how a service that offers free phone, data, and text is able to earn any revenue. CEO Stokols points out that people are so thrilled with FreedomPop’s service, upwards of 45% choose to upgrade to paying services.

The Stokols is mentioned in a RCR Wireless article, and the RCR YouTube channel has the full video.

One thought on “FreedomPop Raises Venture Capital for Expansion Plans”

  1. Financially, FreedomPop should do well in both the short-term and the long-term. The interview is filled with some very interesting bits of information about FreedomPop and its massive rise to prominence. This is going to be a very nice thing for to embark and make sure they succeed for a long time in the industry.

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