Launch of LinkUp Mobile Marks an Exciting New Chapter for Surge
SurgePays announced on June 6 that it has officially launched LinkUp mobile. The nationwide launch represents the company’s main effort to diversify its business model from the Affordable Connectivity Program (ACP) market. LinkUp’s aggressive pricing and promotion seek to revolutionize the prepaid market. With plans starting at $10 per month with the first month free, SurgePays has aggressively targeted the underserved, value-conscious segment of the market. Key features should appeal to key growing demographics. Another attractive aspect to LinkUp’s service is free talk, text, and roaming throughout North America (i.e. the US, Canada, and Mexico). While all users should find this appealing, it would seem particularly attractive to the fast-growing Latino demographic that SurgePays has historically paid close attention to. LinkUp launch and solid balance sheet provide a path through the uncertain future of the ACP. With funds having officially run out in May, the future of the ACP remains very unclear. With $40 million in cash, the company has good liquidity to fund the buildout of LinkUp, which management believes could meet or exceed its ACP business within 12 months. The ACP faces a key vote in the Senate on June 12. The Senate Commerce Committee announced that it will vote on the Spectrum and National Security Act of 2024, which includes $7 billion of new funding for the ACP.
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