Consumers that are looking for an alternative to the expensive carriers of smartphone plans, including voice, text, and data services, are seeing a lot of options pop up. One company that is making waves by offering free basic mobile service is FreedomPop, and the company just landed an additional injection of $30 million. The newest wave of funding comes at a time with the upstart company on target to boast one million customers in the United States, which is huge milestone for any business.
Since the business model of FreedomPop is built around giving away a certain amount of service for free and upselling additional minutes, data, and other features, the company is proving that consumers are open to embracing new types of mobile experiences. In fact, FreedomPop had to turn down offers from carriers looking to purchase it entirely. There was no word on what carriers might have been bidding on FreedomPop, but the company is also looking to another round of funding to raise close to $100 million, which would boost customer access and retail access for consumers. It would seem that the company is destined to field some serious offers from major players in the mobile virtual network world.
Of course, a lot can happen in a year. FreedomPop is enjoying growth in a market that has proven difficult to penetrate. While a complete selloff might be in the future of the company, FreedomPop is focused on building customer experiences and delivering value against the larger contract oriented providers. A lot of industry watchers will be keeping eyes on the management team at FreedomPop because so far the company has exceeded expectations. By using the latest round of funding to increase its already substantial growth, the company is proving itself to be an interesting option for investors and consumers.