We have seen countless times the act of art imitating reality, but in the case of FreedomPop — a new freemium mobile carrier — it seems like the reverse is true. Inspired by the hit HBO show ‘Silicon Valley’, the team at FreedomPop decided to forgo selling their company in lieu of maintaining creative control. Of course the decision for CEO Stephen Stokols was made easier when the company received a massive influx in fresh funding, as reported by Recode.
Stephen Stokols and the team at FreedomPop have been one of the most popular upcoming mobile carriers on the marketplace and this made them a bet to sell and get out of the game early, racking up enough cash to start on some new venture. However, Stokols was inspired by the ‘Pied Piper’ team in ‘Silicon Valley’ and the fact that they decided to stay independent.
Instead of selling we saw European capital group Partech Ventures spearhead a $30 million dollar funding dump on FreedomPop’s doorstep. Mangrove Capital and DCM Capital were also part of the group to help push the money in Stokol’s direction. With this new funding in place the goal of FreedomPop has changed quite a bit.
Now Stokols is aiming to get his product into big box retail stores in order to make a push to become a house hold name. FreedomPop is a mobile carrier that offers free (but limited) voice, text, and mobile data to customers. Instead FredomPop will make their money with different services that the phone will be offering. This is a dramatic change as compared to the ‘old guard’ of mobile phone carriers, but the freemium approach is definitely grounded in reality.
Stokols also has made it a goal to improve customer service in the coming months. Stokols has admitted that FreedomPop has struggled on the customer end and admits that it is not acceptable.