Tuesday, November 19, 2019

Boost Mobile Founder Seeks To Buy Back Company

Peter Adderton, the founder of Boost Mobile, the prepaid cell phone provider now owned by Sprint, is looking to buy back the company for up to $2 billion, according to reports. Adderton--a Southern California entrepreneur who most recently was founder of local 360-degree video camera maker 360fly, which was backed by L Catterton, Hydra Ventures, and Qualcomm Ventures, founded Boost Mobile way back in 2000 when Adderton was in Australia. Adderton was also being ill-fated MVNO Amp'd Mobile, which was an early 2000's telecom startup which raised $375M before it flamed out in a spectacular bankruptcy when it grew too fast for its finances. Sprint is in the process of selling Boost Mobile, as part of a regulatory agreement to merge with T-Mobile.