![]() T-Mobile, based in Bellevue, Washington, became one of the largest cellphone service carriers in the U-S in 2020 after buying rival Sprint. The transaction is targeted to close later this year. ![]() The actual price of the deal will depend on Ka’ena Corp.’s performance during certain periods before and after the closing. Reynolds, meanwhile, will remain in his creative role for Mint. Mint founders David Glickman and Rizwan Kassim will stay on at T-Mobile after the transaction is complete to manage the brands. T-Mobile CEO Mike Sievert said the company plans to give a boost to Mint's already successful digital direct-to-consumer business. said Mint and Ultra Mobile are complementary to its existing prepaid services, Metro by T-Mobile, T-Mobile branded prepaid and Connect by T-Mobile. It plans to use its supplier relationships and distribution scale to help grow the brands and offer competitive pricing and greater device inventory to more U.S. How will it affect pricing Bailey Schulz USA TODAY T-Mobile is set to purchase prepaid wireless brand Mint Mobile but. The U-S wireless carrier said Wednesday that it is acquiring the brands’ sales, marketing, digital and service operations. T-Mobile is buying Ryan Reynolds' Mint Mobile for up to 1.35 billion. Life is strange and I’m incredibly proud and grateful. Ryan Reynolds brings back his version of Satan in a new ad for Mint Mobile, the mobile phone service company he co-owns that launched in 2015. ![]() “Yet Mint is making wireless way more affordable at a time when the average American is paying 65 dollars a month.” Reynolds is also an owner of Aviation Gin.ĭisclosure: TechCrunch is owned by Verizon Wireless.I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile. “Celebrities generally invest in high-end products like skincare brands or delicious gin companies,” Reynolds said in a press release. Ryan Reynolds launched a streaming service with precisely one movie, as part of a campaign to promote his mobile company's wireless service.Reynolds is not only a movie star but has also recently purchased two companies very publicly - a gin brand called Aviation Gin, as well as Mint Mobile, which provides cell phone plans and, more recently, wireless service. Ryan Reynolds isn’t just a world-famous actor, he’s also the part owner of Mint Mobile, the mobile virtual network operator (MVNO) that touts a 15 a month cell phone plan using the T-Mobile 5G network. Retired NFL running back Marshawn Lynch is the public face of Beast Mobile, another MVNO. Andreessen Horowitz has built an entire fund around getting celebrities into startup deals. The company sells 3, 6 and 12-month prepaid blocks of wireless service, their cheapest regular-priced option being a $15 per month plan (billed annually).īringing Reynolds onboard certainly seems to be an effort to bring a star with a substantial social media following into the fold. Celebrity deals where recognizable names put up some cash and supply a big PR boost for the startup are far from rare. The company’s online-only Mint Mobile brand seems to have been an effort for the company to bring a younger demographic onto its service. Ultra Mobile has carved out a niche focusing largely on prepaid plans for low-income immigrants in the United States. As the T-Mobile and Sprint deal wraps up and T-Mobile’s scrappy “uncarrier” marketing slows down, there may be more attention being paid to these smaller MVNO entities. MVNOs are vehicles to create a new carrier brand without having to worry about most structural barriers of entry. Ultra Mobile CEO David Glickman is also the CEO of Mint Mobile. The MVNO launched beneath Costa Mesa, California-based Ultra Mobile in 2016 and the brand was only recently incorporated as its own entity. It uses T-Mobile’s cellular infrastructure. ![]() The Deadpool star owns roughly 25 of Mint Mobile, Bloomberg previously reported, citing an unnamed source. Mint Mobile is a mobile virtual network operator, meaning the company does not actually own the network infrastructure it operates on. That’s roughly how much Reynolds earned from the sale. Reynolds also has a few side hustles that help him maintain his impressive net worth, and one of the companies he owns is a budget-friendly phone company called Mint Mobile. What he invested is thoroughly unclear and a Mint Mobile spokesperson did not comment on the company’s valuation. It all sounds like a weird sponsored Instagram post, but a source tells TechCrunch that Reynolds now owns more than 25% of the company with this recent investment. In other news, Deadpool actor Ryan Reynolds has invested an undisclosed amount in a company selling prepaid phone plans called Mint Mobile. ![]()
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