FreedomPop is a startup company that is trying to break the mold of most cellular carriers and provide people with an alternative to paying mobile service companies. FreedomPop essentially would disrupt some mobile service providers profits because it would allow people to use mobile devices freely with out having to pay additional charges.
FreedomPop had a recent addition to their already large following and available startup capital. The latest numbers show that the startup has managed to secure an additional 50 million dollars that would go to expanding the service to other countries.
The FreedomPop service would cost $49.99 usd initially to connect to the free wifi hotspot, but this is little in comparison to the amount that it would cost for data on a normal mobile contract and could be used without additional fees in over 25 countries and offer a sim card for $10 that would allow people to make phone calls and connect to data throughout Europe.
The Startup will not divulge the name of its main investor. But the CEO of FreedomPop admits the investor is a very large well connected financial player. in addition to other private investors.
The numbers alone show a definite want and or need for this type of service. I look forward to seeing how it evolves and what kind of good changes it would bring to the mobile platform.
The estimated funding that has been raised so far is around 109 million dollars or more. The startup raised 30 million dollars from investors such as intel in the first round of investments and there are most likely more to come their way.
FreedomPop plans to start the service first in the United States, United Kingdom, France, Italy, Spain, Switzerland, Austria, Netherlands, Belgium, Luxembourg, Sweden, Finland, Norway, Denmark, Ireland, Portugal, Greece, Poland, Hungary, Slovakia, Croatia, Romania, Bulgaria and also the Czech Republic. Asia, Latin America as well as another 40 other countries reportedly would be added by the end of the year.