FreedomPop Raises $30 Million in Funding

As originally reported on Recode, the mobile carrier FreedomPop has decided not to sell and has recently picked up $30 million in new funding. This new funding comes from Partech Ventures, a European venture capital firm. One of the contributing factors to the company’s decision not to sell was CEO Stephen Stokols belief that the company would attain three to four times its current value in the next year after expanding its business internationally, Stokols also mentioned that he was inspired to make the decision not to sell by Silicon Valley, a television show about a fictional startup who decided to stay independent.

FreedomPop also intends to acquire retail partnerships, hoping to have their products on major retailer’s shelves by this coming October, despite Stokols saying he is not entirely convinced that it is what the company needs although several retailers have already expressed interest in a partnership. Until then their products are only available online. Stokols goes onto state that improving the company’s customer service is another one of their major priorities. To accomplish this the company is hiring more staff in addition to improving the software they use to handle customer service.

More information can be found on Recode at http://recode.net/2015/06/17/freedompop-opts-not-to-sell-raises-30-million-instead/.

Leave a Reply

Your email address will not be published. Required fields are marked *