Talked with PrepaYd. They are excited about potential of both the kiosk and the new agreement with Emida.
My contact said that the Emida deal is very important to PrepaYd because it gives them access to small businesses with multiple retail storefronts. Reported that he is very busy on the phones responding to businesses that are part of the Emida network.
He said to think about a small business being able to display a bank of phones for sale with unlimited minutes and text for $30. Imagine what would happen if a retail store calls up Sprint and wants to sell such a plan in their store. PrepaYd gives them access to excellent rate plans and good prices on phones that allow them to compete with Best Buy or Costco.
Obviously PrepaYd is giving up margin on both the phones and the rate plans to the retailer but is getting thousands of small business salesmen for their prepaid phone and card products.
PrepaYd is in the midst of a fundraising for $1million. The purpose is to buy more phone inventory, as several models are sold out. That is one of the issues with high growth. There is a constant and growing need for capital. We'll see how PrepaYd handles the growth after we get to see the financials.
Bobwins
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