In an article originally published on Tech Crunch, it was said that FreedomPop has raised another $30 million in funding that will help take the company to another level. FreedomPop is a global mobile business with a single mission in mind – to make mobile internet, texting, and calling free and readily available to the entire world. In addition to offering these free services, FreedomPop upsells extra, premium services that clients can buy.
Throughout the past few months, there have been many rumors about M&A funding the company, and those offers have clearly been rejected, as Freedom Pop has chosen to fund themselves independently. Rather than sell the company, CEO Stephen Stokols says that the company is now on the way to becoming with a billion dollar company, with plans to raise another $50-$100 million in the next year.
FreedomPop will get much of it’s funding from both the United States and other countries. As of right now, the company is growing at approximately 25% each quarter, and is even projected to reach Ebitda later in the year.
Steven Stokols even said that Freedom Pop is on track to have one million users in the United States by the end of this year, and is currently in the process of growing it’s international customer base.
FreedomPop differs from other mobile carriers, because other companies tend to buy minutes, data, and messages in bulk rather than buying only what their customers will use. On the other hand, FreedomPop ensures that their customers are only paying for exactly what they use, because they are able to mediate different usage tiers. This new approach is not only cost-effective; it is far less wasteful. Other companies are even beginning to replicate this new idea, such as RingPlus from Sprint.