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FreedomPop to Forgo Acquisitions for Now

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Jun 17, 2015, 7:07 AM by Eric M. Zeman

FreedomPop today put to rest months of speculation that the company would be acquired by a larger competitor. FreedomPop says it has declined multiple offers and will instead remain a separate entity. In order to do so, however, it secured $30 million in Series B financing from Partech Ventures. "We ultimately decided it was premature to sell on the cusp of exponential traction," said Stephen Stokols, FreedomPop's founder and CEO. "Following on accelerated growth and our pending global expansion, we are confident we will create massive value within the next 12 to 24 months at which point we could revisit exit options." FreedomPop offers free and low-cost wireless service mostly via WiFi. It also resells access to Sprint's network.

source: FreedomPop

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