T-Mobile is giving every customer a share of its stock
T-Mobile had another of its un-carrier events today, which now have so many regular giveaways they are starting to look like an episode of Oprah.
First, the company announced that every current T-Mobile account holder on a postpaid plan will get one share of common stock in the company, which is currently worth about $43. New qualifying customers will also get one share once they sign up with T-Mobile.
Plus, existing customers will be able to earn another free share (or two if you’ve been a customer for over five years) for each new customer they refer to the company — maxing out at 100 shares a year.
The prospectus for the offering is here, and gives a little more color on how exactly the promotion will work.
Once a customer redeems the share via T-Mobile’s new app, the security will be held in a brokerage account at LOYAL3 Securities. Stockholders can then hold on to their new investment, sell their shares via the platform or transfer their shares to another brokerage account. Customers can even electronically participate in proxy votes to vote their shares. Notably, instead of issuing additional shares, T-Mobile says shares needed to meet the needs of the program will be purchased on the open markets.
T-Mobile also launched something called T-Mobile Tuesdays, which is a new app that rewards customers every Tuesday with free stuff. These will include things from brands like Wendy’s, StubHub, Domino’s, etc.
For the first week, the company will give away a free small frosty at Wendy’s, and a free movie ticket to see Warcraft. These brands are more than likely offering the product at a discounted (or even free) price to T-Mobile to pass along to users, hoping to take advantage of the promotional reach of the cell phone company’s 65 million customers.
Lastly, the company announced that all users who have already tried T-Mobile’s Wi-Fi calling feature will get an hour of free Gogo internet every time they fly. Gogo’s spotty speeds make this benefit a little less valuable than others, but it’s the thought that counts — at least until Gogo finishes overhauling planes with its faster satellite-based service. Users will continue to get unlimited free in-flight texting on any Gogo-enabled planes.
All in all, the three new promotions are pretty huge, and while T-Mobile’s past giveaways now make this look like a regular thing, the reality is that these are all great bonuses that could legitimately sway new users deciding between different cell companies.
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Source: TechCrunch.com Mobile