In early March, Media World Live landed an exclusive interview with FreedomPop International president Nicholas Constantinopoulos. The head of the mobile and wireless provider spoke, primarily, about future plans for the company after success in the UK market.
In 2016, FreedomPop saw its Series B funding come out to $36 million, followed by a comparatively whopping $50 million in Series C funding. All of this, according to Constantinopoulos, is going toward global expansion. The company’s Wikipedia page puts its total funding up until this point at roughly $109 million, making this year’s total of $86 million far and away its most successful.
Constantinopoulos went on to talk about the UK’s role as a sort of “test country” for operations outside of the US. The test, from everything the FreedomPop president said, went quite well, bolstering the company’s efforts for expansion. Constantinopoulos specifically mentioned Axiata, one of East Asia’s primary mobile providers as one of its major foreign backers.
Further, he spoke about FreedomPop offering free data, and some of the skepticism that they faced when they first approached investors with such an unconventional idea. Constantinopoulos made clear, however, that the goal is to convert as many customers as possible to paying subscribers. This seems to be going quite well, as the US is seeing a 40% conversion rate after 3 years, and the UK is seeing a 45% rate after only four months.
In fact, Constantinopoulos believes that a 50% conversion rate across the board is possible if FreedomPop continues using their current strategy.
Finally, Constantinopoulos answered what he thought the difference is between FreedomPop and MNA. He goes on at length, but sums up the difference by saying that FreedomPop has found the “secret source” that allows them to successfully expand into new markets.