Traditional mobile phone companies are being challenged again by the new startup FreedomPop that is adding even more services to their offers. This unique company has continued to spread their low cost and free services across the globe and has recently raised as much as $50 million to increase their services. FreedomPop is offering “free hotpot” services and more data access to mobile users across Europe including $10 SIM coverage of the continent.
There have been rumors that a new investor has joined the company and is potentially adding new and more powerful services to FreedomPop. Co-founder and CEO Stephen Stokois announced a new private-equity group that is they are keeping anonymous for the time being. This could be a major carrier that will help contribute to the value of the service. FreedomPop has raised a total of $109 million to provide their service to more people all over the globe. The company is becoming a major player in the mobile carrier market and continually is building better and better relationships with a number of national carriers which allows them to target new demographics. They are attracting more and more “free” clients overall.
FreedomPop is a provider of Mobile phone and data services at a very low cost to no cost at all. They are able to do this by negotiating great levels of coverage from mainstream carriers like Sprint and their customers only pay for the services they use, rather than paying for excess services they may or may not use. It is a system that is based on common sense and its time is coming. They are continually adding more and more coverage and services to their product line and it seems their growth potential is unlimited. They provide text, voice, data and of course sell mobile phones for clients to purchase. These phones are far below market value and are top of the line. All customers can choose between Android and Apple devices, whichever they are more comfortable with.
The growing reach of FreedomPop, means positive things for consumers because anytime the competition for a service raises the prices for that service decrease. The most concerned at this trend are the established mobile providers who are going to have to significantly change their business practices as FreedomPop gains for of a consumer base. One thing is for certain, the products offered are growing and so is the global appeal. This is a company that is going to grow exponentially in the next five years.