![]() ![]() Mint Mobile and Maximum Effort did not immediately return Fortune’s request for comment. “I am so proud of the entire Mint team and so excited for what’s to come.” “We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom’s slightly-above-average mahjong skills,” Reynolds jokingly said in a statement. The deal is set to be completed next year, and T-Mobile will continue to acquire sales, marketing, and digital and other services from Mint Mobile. "Over the long term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile." “Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers,” Mike Sievert, CEO of T-Mobile, said in a statement on Wednesday. ![]() T-Mobile’s goal for the acquisition was more about adding customers through competitive pricing to “turbocharge growth.” Life is strange and I’m incredibly proud and grateful. I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile. In an interview with CNBC on Wednesday, Reynolds said phone connections are an “essential service,” and that he and his marketing firm, Maximum Effort, are always looking for less-glamorous yet important products for their projects and investments. Mint Mobile has also avoided the high cost of installing mobile infrastructure nationwide by paying T-Mobile for use of its network.Īs a private company, Mint Mobile has made little information public about its subscriber numbers and revenue growth. In one example of its cost controls, the company exclusively sells its plans online rather than through physical stores so it can avoid real estate costs. Reynolds spearheaded initiatives that emphasized gaining customers through low prices rather than maximizing profits. He added that the number of monthly active users of its app in February was up 82% from a year earlier and up 254% from two years prior. I would say he is absolutely critical in our success and our growth,” Mint Mobile’s chief marketing officer Aron North said in late 2020 of Reynolds.įollowing Reynolds’s purchase of a stake in Mint Mobile in November 2019, downloads of Mint Mobile's apps soared 34% in the following 12 months compared to the preceding 12-month period, according to Abraham Yousef, senior insights analyst at analytics firm Sensor Tower. “His reach has given us a much bigger platform to speak on. That included TV commercials and a full-page Super Bowl newspaper ad. Once he came on board, he said he was involved in every part of the business-even the “unsexy” ones that weren’t related to marketing, like customer service.īetween 20, Mint Mobile’s revenue increased nearly 50,000%, with many of its subscribers signing up thanks to Reynolds’s presence in marketing campaigns, TechCrunch reported. “I have a lot of employees whose phone bills I pay, so I decided to try it out and wound up saving money,” Reynolds told Fortune in 2021. The founder of Mint Mobile, David Glickman, was on the board of a Parkinson’s disease research foundation with Reynolds, and that’s when Reynolds first heard about the company. service providers’ basic plans start at $30 and above. Mint Mobile, started in 2016 with the goal of creating an “affordable, premium wireless service,” has unlimited plans that cost as little as $15 a month. This is how much money you need to earn annually to comfortably buy a $600,000 home How to save $750 a month, according to financial advisersĬhatGPT helped me make a plan to buy a $500,000 home, but experts warn me it's a bad idea He also sold Aviation Gin in 2020 for $610 million his stake in the company is unknown.īut what did it take for him to get to this point?ĥ side hustles where you may earn over $20,000 per year-all while working from home Reynolds, who owns an estimated 25% stake in Mint Mobile, will receive about $300 million from the deal, the Wall Street Journal reported. ![]() On Wednesday, Mint Mobile, a mobile phone network known for some of the cheapest prepaid plans in the U.S., was acquired by T-Mobile for $1.35 billion. He bought stakes in the companies in 20, respectively, and has become their brand ambassador, delivering jokes and his signature quirkiness in commercials. And while the Deadpool star has become a widely recognized actor, he’s also become closely associated with his two brands-Aviation Gin and Mint Mobile. Ryan Reynolds has assumed many guises since he shot to fame in the 1990s. ![]()
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