Ryan reynolds new phone company12/7/2023 The last notable prepaid brand sale was Tracfone, which Verizon acquired for $6 billion in 2021. He currently owns about one-fourth of Mint Mobile. Reynolds became part-owner of Mint Mobile in 2019 and has promoted the company through TV ads he's starred in and social media posts from his personal 21 million follower Twitter and 47 million follower Instagram accounts, as Bloomberg pointed out. It's also unclear whether the Mint Mobile brand would continue or if it would be folded into other T-Mobile-owned brands such as Metro by T-Mobile. It wasn't immediately clear whether Ultra Mobile would be sold alongside Mint, or if T-Mobile was just interested in the latter. That Mint is already using T-Mobile could help make any transitions of customers a bit easier. While Mint Mobile pitches itself as a rival to larger wireless companies, it doesn't run its own 4G LTE or 5G service and instead is an MVNO that operates on T-Mobile's network. Mint Mobile declined to comment on speculation. “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 didn't immediately respond to a request for comment. “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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