Jimmy Wales backed cause-based MVNO, The People’s Operator sees major growth potential in the UK market and is aiming to achieve 1.5m UK subscribers (2% of the UK market) in the next 6 years.
The operator said that it had grown rapidly in the UK during a period within which it had been testing and developing the product. It revealed that UK subscriber numbers had increased by 140% in the last six months to over 12,000 in November 2014.
Describing its interest in the UK The People’s Network said that it was focused on ‘the fast growing SIM-only segment of the UK market’.
The organisation also announced that it had successfully raised £20m, ahead of joining AIM on 4th December which it intends to use to develop its online customer acquisition community platform and to fund its expansion in the US and internationally.
It received strong support from a number of investors including Aviva Investors Global Services, Allianz Global Investors and JP Morgan Asset Management.
The People’s Operator describes itself as a cause-based commercial mobile virtual network operator with a strategy of customer acquisition through viral networking and online communities