FreedomPop is all about providing free services to individuals on their phone. With the skyrocketing price of most mobile providers, it can be rather difficult to find someone who charges a fair price. FreedomPop wants to offer free services to those interested in it, but in order to offer free mobile data and calling services, it does become rather expensive to open and to maintain. That is why the recent fundraising outreach the program obtained is extremely important. FreedomPop recently received $30 million in funding in order to expand its free mobile services.
The company has been around since 2012 and it has been spreading out from LA since it initially opened up. Basically, the company provides bare bone services without charging anyone for using it. This way, it is possible for someone who just doesn’t want to spend hundreds of dollars a month.
Multiple other carriers have attempted to buy out the upstart company in recent years. Whether it is to take advantage of the networking elements the company has put into place or to simply buy out the competition (or a bit of both), FreedomPop has turned down all of these different offers and has instead raised nearly $50 million in three years. The original seed money came from Skype’s founder and it has quickly grown into one of the fastest growing mobile companies in the United States as it has more than a million subscribers.
Now, the company is a mobile virtual network operator, which means it does not own any of the wireless infrastructure but instead simply rents it from larger companies. It purchases the data from Spring at wholesale rates, which is similar to how Google works as it buys data from T-Mobile and Spring. However, FreedomPop is giving the services to customers for free.