FreedomPop is a startup that provides free wireless internet.
Your mom thinks what they do is magic.
FreedomPop is one of a number of new-wave carriers that sells a service using a different business model combined with service provided by one of the major carriers. FreedomPop’s approach is to offer a certain amount of voice, texting and data for free and make money off additional use and other services.
FreedomPop is very cool. It even has a cool word for what it does: "Freemium."
So, clearly, people want to buy FreedomPop, which leaves FreedomPop with an interesting decision to make.
After considering selling itself, upstart freemium mobile carrier FreedomPop has decided instead to go it alone. This week, it picked up $30 million in fresh funding.
Very cool. How did they make such a huge call?
[CEO Stephen Stokols] said among the factors that led it not to sell was the belief the company would be worth three to four times more in the coming year after it grows its business internationally. Oh yeah, and Stokols said he was catching up on Season 1 of Silicon Valley and was inspired by the fictional Pied Piper’s decision to stay independent.
Today's tech economy; Base your M&A on TV and collect $30 million.