The renowned Hollywood actor Ryan Reynolds has announced a new venture – an investment in wireless company Mint Mobile. The A-list star has purchased an ownership stake in the mobile business, speaking of his enthusiasm for what Mint Mobile does.
“It’s a bit unconventional which is why I like it,” Reynolds commented. “Celebrities generally invest in high-end products like skincare brands or delicious gin companies. Yet Mint is making wireless way more affordable at a time when the average American is paying 65 dollars a month. I’m excited to champion a more practical approach to the most essential technology.”
Mint promises to make premium wireless more accessible for everyday consumers, with its most affordable offer coming in at just $15 per month. Mint achieves this figure by implementing an innovative consumption model, while the provider also benefits from having absolutely no overhead costs.
The company also delivers its services on one of the most advanced 4G LTE high-speed networks in the United States, while not requiring customers to sign up for any restrictive contracts. Mint has only been around since 2016, but since the company was formed its Bring Your Own Phone has proved popular, providing Mint Mobile on unlocked phones.
Communication and marketing
Aside from his stake in the company, Reynolds has also promised to assist Mint with communication and marketing campaigns, while he will also be consulted on strategic decision-making.
Reynolds has previously invested in several other companies, while the heartthrob has also been involved in his own brand of gin. Reynolds invested in liquor company Aviation Gin last year, and has since promoted the spirit through his social media channels.
Other Hollywood actors and celebrities have also made savvy investments, and become associated with products that have made them millions. For example, Robert De Niro started the restaurant Nobu with chef Nobuyuki Matsuhisa, with the chain now having grown to over 40 locations worldwide.
Jessica Alba is also known for having co-founded the consumer goods company Honest Co., which then grew to a market value in excess of $1.5 billion. And perhaps the most famous endorsement ever is the legendary George Foreman grill, which continues to make the former heavyweight boxer a tidy packet.
$3 trillion market
The US mobile market is hugely competitive, with the mobile payment market alone worth $3 trillion annually. With many US consumers looking for a convenient and affordable option when seeking mobile coverage, providers such as Mint Mobile have managed to capture large swathes of the market.
Mint Mobile runs on the T-Mobile network, and is compatible with both iOS and Android devices. The company also offers several standard features associated with mobile platforms, such as tethering and hotspots. T-Mobile itself has grown to be one of the world’s top mobile companies, generating revenue of over $40 billion in 2017.