Investment is the Top Option for FreedomPop
Almost every day news comes out of a startup being purchased by a major company in the technology or wireless communications area. FreedomPop is is bucking this trend by rebuffing a reported six bids for the mobile communications startup, which has recently been looking for investment to expand its range of services to customers around the world. TechCrunch is reporting the FreedomPop CEO and founder Stephen Stokols has recently been using the many options available to the company to raise funds and is not looking to sell the mobile carrier in the near future.
In fact, Stokols is reported to have set the data based mobile provider the challenge of being valued at more than $1 billion in the near future after receiving a reported six bids of around $250 million each for the company. FreedomPop has become a popular option amongst those larger companies looking to purchase it because of the unique way the company has negotiated the use of data from companies across North America and the UK. FreedomPop uses data to complete voice, text and other services from existing services, which rarely run to capacity. This means the company works with large wireless network carriers, fast food chains and large stores to offer access to wireless networks for a variety of uses.
Alongside the move to international areas with the start of services with the UK based carrier Three, FreedomPop is about to announce a major partnership agreement with a mobile device hardware company. This hardware partnership will add $5 million to the $30 million already raised to add to the value of the company that must now be seen as a serious alternative to expansive data plans from major wireless providers.
You can check out the full article on FreedomPop on TechCrunch.