Feature Article

February 08, 2013

FreedomPop Raises Funds and Expands Social Broadband Platform

Wireless Internet provider FreedomPop recently obtained additional funding and has expanded its social broadband platform to provide users with more free Internet access and the ability to easily share data across social media networks.

The company received $4.3 million from investors DCM and Mangrove Capital, bringing the total amount of funding for FreedomPop to $11.2 million. Additionally, FreedomPop users will now be able to use their social media websites such as Facebook and Twitter to share bandwidth with friends. Users that connect with friends on FreedomPop through Facebook or Twitter will be provided with 50MB of free data each month that their friend remains with FreedomPop. This is five times more than the 10MB offered previously. Since FreedomPop's launch last year, the company has given users more than 2 million MB of free data simply for adding friends.

"Today, users pay a big fee each month for a fixed data plan," Stephen Stokols, CEO of FreedomPop, said in a statement. "The hidden secret in the wireless industry is that 80 percent of users consume less than the amount they are paying for each month and the rest goes to waste or AT&T's bottom line."

Stokols said FreedomPop offers a logical and cost-effective solution.

"If I need more data this month while my friend doesn't, I should be able to share it and vice versa," Stokols continued. "We already share everything from cars to couches. Now, we can share our Internet capacity and empower our network of friends to get the most value for their money."

Individuals can sign up for FreedomPop's free Internet service at FreedomPop.com.

In related news, FreedomPop recently announced plans to develop a product called the LTE clip which will provide hotspots for iPads and Android tablets. Moreover, last month FreedomPop teamed up with free mobile communication provider textPlus to offer its users mobile data, text and calling services at no cost.

Edited by Rich Steeves

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