FreedomPop Raises $4.3 Million
FreedomPop is a freemium Internet service company based in the United States. The company started in 2011 and was backed by Niklas Zennstrom (Atomico partner / Skype co-founder). FreedomPop has raised $4.3 million in new Series A1 financing from existing investors DCM and Mangrove Capital. The company has raised a total funding at $11.2 million.
Based in Los Angeles, FreedomPop has added social features to their website to give people the ability to give and get extra data from their friends. FreedomPop users can login with their Google account to find other friends that are using the service. A graphic shows how much free data each friend has left for the month. There is a “Give” and “Get” button next to each name. People that help others that are running out or they can request data from people that have not used much.
Each time a person adds a friend on FreedomPop, they will get an extra 50MB per month of data. Users are not required to invite other users to get the extra bandwidth. They just have to simply add them as friends. FreedomPop is increasing the amount that users get for referring new users from 10MB to 50MB.
According to FreedomPop CEO Stephen Stokols, around 80% of wireless customers do not use their full amount each month. FreedomPop users get around 500MB per month free.
[Source: Forbes]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry