Red Pocket buys FreedomPop

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4 months 1 week ago #38105 by Isamorph
Replied by Isamorph on topic Red Pocket buys FreedomPop
"SEC - FreedomPop had 150,000 Sprint Customers
Posted 7 June 2019 | 11:12 am

Ting paid $3.6 million ($24/customer) for FreedomPop's 150,000 Sprint Customers. 100,000 were on free plans. That seems like a lousy deal."

prepaidcompare.net/

www.sec.gov/Archives/edgar/data/909494/000143774919011556/tcx20190531_8k.htm
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4 months 1 week ago #38106 by Chelle
Replied by Chelle on topic Red Pocket buys FreedomPop
I forget what the industry average is for customer acquisition, but it's many multiples of the $24 that Ting paid.

They could probably lose 4 out of 5 and still come out ahead.
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4 months 1 week ago #38107 by Isamorph
Replied by Isamorph on topic Red Pocket buys FreedomPop

Chelle wrote: I forget what the industry average is for customer acquisition, but it's many multiples of the $24 that Ting paid.

They could probably lose 4 out of 5 and still come out ahead.


I'm sure someone did the math. I thought the "lousy deal" statement was interesting because there was no mention of who said it and no support for the statement. Did Dennis B. say that or someone else?
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4 months 1 week ago #38108 by Diedrich_Duo

Isamorph wrote:

Chelle wrote: I forget what the industry average is for customer acquisition, but it's many multiples of the $24 that Ting paid.

They could probably lose 4 out of 5 and still come out ahead.


I'm sure someone did the math. I thought the "lousy deal" statement was interesting because there was no mention of who said it and no support for the statement. Did Dennis B. say that or someone else?

I'm guessing it might've been Karl. :)
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4 months 1 week ago - 4 months 1 week ago #38109 by Isamorph
Replied by Isamorph on topic Red Pocket buys FreedomPop

Isamorph wrote:

Chelle wrote: I forget what the industry average is for customer acquisition, but it's many multiples of the $24 that Ting paid.

They could probably lose 4 out of 5 and still come out ahead.


I'm sure someone did the math. I thought the "lousy deal" statement was interesting because there was no mention of who said it and no support for the statement. Did Dennis B. say that or someone else?


Just saw this discussion on Twitter: must click on the tweet to see full discussion.

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4 months 1 week ago - 4 months 1 week ago #38123 by PEW
Replied by PEW on topic Red Pocket buys FreedomPop
I count $80 in top-ups on my FP lines including the most recent FP Cash Grab of $20 top-up from me... guess the $80 is a goner now... :(

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4 months 1 week ago #38124 by KentE
Replied by KentE on topic Red Pocket buys FreedomPop

PEW wrote: I count $80 in top-ups on my FP lines including the most recent FP Cash Grab of $20 top-up from me... guess the $80 is a goner now... :(


Likely so. Although the real question is whether you've gotten $80 of use out of your FreedomPop accounts.
My oldest FreedomPop line cost me $50 to set up, including a phone. That was in April 2015. Not bad for $1/month.

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4 months 1 week ago - 4 months 1 week ago #38127 by PEW
Replied by PEW on topic Red Pocket buys FreedomPop
I probably spent $700-1000 on Freedompop overall between the Top-ups, BYOD activations, LTE SIM purchases, not to mention the hotspot purchases over the last 7(?) years...

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4 months 1 week ago #38128 by tech-stitch
With all this mess, I am certain to close those two accounts with valid / active cards. Sure, they are LTE and maybe not impacted. Still, FP pulled one heck of a fast one to probably make their numbers look appealing. As far as the Sprint ones, same - cancel them and sell off the devices.

Now, I wonder if Ting will get their money's worth provided the numbers they received from FP were real subscribers and not the many that had no clue.

Anyway, sure hope they (Ting) do, as we do not need another company going under or be struggling.

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4 months 1 week ago #38130 by realLexusl21

tech-stitch wrote: With all this mess, I am certain to close those two accounts with valid / active cards. Sure, they are LTE and maybe not impacted. Still, FP pulled one heck of a fast one to probably make their numbers look appealing. As far as the Sprint ones, same - cancel them and sell off the devices.

Now, I wonder if Ting will get their money's worth provided the numbers they received from FP were real subscribers and not the many that had no clue.

Anyway, sure hope they (Ting) do, as we do not need another company going under or be struggling.


Wait ting is buying fp? I thought it was red pocket?

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