![]() ![]() Reynolds will also remain and “continue on in his creative role on behalf of Mint.” Once the deal closes, Mint founders David Glickman and Rizwan Kassim will remain with T-Mobile to manage the brands, which will operate as a separate business unit. Mint is known for its lighthearted advertisements starring its mascot, a green fox, and Reynolds. “We think customers are really going to win with a more competitive and expansive Mint and Ultra,” said T-Mobile CEO Mike Sievert in a news release. consumers, according to a statement from T-Mobile. The deal should help the brands grow and offer competitive pricing to more U.S. T-Mobile plans to pay up to $1.35 billion in cash and stock and close the deal later this year, with the final price dependent on Ka’ena’s performance. and its subsidiaries and brands, including Mint Mobile, the wireless service Ultra Mobile and wholesaler Plum. T-Mobile on Wednesday said it agreed to purchase Ka’ena Corp. “I am so proud of the entire Mint team and so excited for what’s to come.” Mint Mobile and Maximum Effort did not immediately return Fortune’s request for comment.T-Mobile is set to purchase prepaid wireless brand Mint Mobile but says the brand’s low monthly rate – as well as its marketing from part-owner and actor Ryan Reynolds – are here to stay. “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. “Over the long term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile.” 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. T-Mobile’s goal for the acquisition was more about adding customers through competitive pricing to “turbocharge growth.” “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. ![]() #MintMobile- Ryan Reynolds March 15, 2023 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. And Ryan Reynolds will continue to be Mint Mobile’s brand ambassador. T-Mobile, the third-largest mobile carrier after Verizon and AT&T, has said it will continue to sell Mint Mobile plans with budget-friendly pricing. 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. ![]() As a private company, Mint Mobile has made little information public about its subscriber numbers and revenue growth. Mint Mobile has also avoided the high cost of installing mobile infrastructure nationwide by paying T-Mobile for use of its network. 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. Following 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. 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. “His reach has given us a much bigger platform to speak on. That included TV commercials and a full-page Super Bowl newspaper ad. ![]() Between 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. 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. “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. ![]()
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