Update: “Help us save Mobilicity” hits Indiegogo, looking to raise $400,000,000

Ian Hardy

July 26, 2013 1:33pm

Save Mobilicity!

Mobilicity, one of Canada’s newest carriers, has been on the block for months trying to find a buyer. TELUS stepped up with a bid for a cool $380 million, but the Industry Minister quickly stopped that deal. There’s also rumours that big US-based wireless carrier Verizon is interested in scooping up Mobilicity’s spectrum, its 150 employees and 250,000 subscribers, but again, nothing solid has come forward.

Enter crowd-funding website Indiegogo. A new project has surfaced by a Toronto resident named “Valya Michael” – who says he’s “a very geeky but very productive person” and wants “to help make the world a better place.” His target: Mobilicity. Apparently he’s looking to raise $400,000,000 to “save Mobilicity.” Curious where the money will be going? Well, $350 million will go to actually buying Mobilicity, the another $20 million will pay off all its debt, the remaining $30 million will expand their coverage and reception and be invested into cell towers and a call centre.

Sounds simple enough. All the money will be returned if the campaign doesn’t reach the $400 million goal.

Update: Indiegogo has cancelled this project and completely removed it from existence, stating “The page you are looking for is no longer available or has been moved.” The last time I checked the campaign raised about $300.

Source: Indiegogo

  • Devern

    400 million eh… ok, so. There were 33,476,688 people enumerated in the 2011 census; let’s say there are 33.5 million Canadians. As of March 17th 2013, according to the Canadian Wireless Telecommunications Association there were 26,543,780 mobile phones in use in Canada–roughly 75% of the total population. Let’s take 400 million dollars, divide that up by the 75% if the 33.5 million Canadians (this is assuming the best case scenario of course; every subscriber on every carrier contributes = 25,125,000)… and I had to double-check my math on this one… but that means that all of those Canadians (myself included) need to donate and average approximately $15.92. However, citing Telus’ press release of their acquisition of Mobilicity in May 2013, there were 250,000 Mobilicity subscribers. This works out rather nicely for working into the aforementioned average donation requirement; let’s move the decimal place on the donation average (1% of Canadian mobile subscriptions are Mobilicity, so we need to increase the donation 100-fold –subscribers to other carriers aren’t likely to donate)… leaving us with, well let’s round up $1600. I, for one, would spend this money on something else.

  • blarry

    “Sounds simple enough. All the money will be returned if the campaign doesn’t reach the $400 million goal.”

    This is NOT true. This is a flexible funding campaign, meaning that he gets whatever amount has been pledged, whether he reaches the goal or not.

    Valya Michael has no intention of raising the goal amount and buying Mobilicity. This is just an attempt to scam a few people who don’t read the fine print and grab some easy cash, and mobilesyrup is giving him free publicity.

  • Viktor Elias

    P.S. it’s over. The campaign is OVER!