FreedomPop entered the mobile phone industry and disrupted the way traditional mobile phone carriers operate. The company started by giving people different ways to use mobile devices free of charge. In the very recent past, the company has managed to add another sizable funding round to its coffers, and it hopes that it will make a further roll out in the international market and introduce brand new hot products.
Of the new products is a free hot spot that will cost only $49.99 initially but gives the user the privilege to use free data in more than 25 different countries. The same service also comes accompanied by a sim card that allows users to have access to free data and calls on their handsets in different regions.
The latest funding came six months after the company raised about $30 with other investors that included Intel. However, contrary to earlier funding episodes, the company did not reveal the name of the investor. The company’s founder Stephen Stokols said that the investor is a very large private equity firm and a large financial player. In stages to come, the investor also wants to integrate the company with another company that it is in the process of acquiring.
With the latest funding, FreedomPop is approaching the $1 billion valuation mark bringing the total it has managed to raise to $109 million so far. Although it is rumored that the new investor might have plans to merge FreedomPop with other assets in its portfolio, it has been making very significant progress in working with other carriers and growing at home and globally as well.
FreedomPop offers different awesome products with the $5 per month budget offer being one of the most budget friendly it has. With the package, Android smartphone owners are allowed to have unlimited talk time, unlimited data and text as well. The service is readily available via the FreedomPop Android mobile app, and customers can automatically log into more than 10 million hot spots across America.
What has made the company stand out is its ability to offer high quality and budget friendly services contrary to traditional mobile phone carriers. Currently, the company has more than 25 million WiFi hot spots across America. It has also been received very warmly in the international markets it has ventured in. The company is happy with the progress and hopeful that in the very near future, it will make its services available in all parts of the world.