Is Ryan Reynolds becoming a well-versed tech investor? Let’s find out more about the actor’s investment in Mint Mobile!
Ryan Reynolds just made an undisclosed investment in Mint Mobile. The company operates as a mobile virtual network operator, which means it sells prepaid phone plans. Reynolds appears to own more than a quarter of the company. In 2019, the actor purchased a stake in the famous prepaid carrier. As a result, Ryan Reynolds is both a crucial aspect and stakeholder in the organisation. He will help with Mint Mobile’s communications, marketing and strategic decision-making.
Did you know in 2018, Reynolds purchased a stake in Aviation Gin that was later purchased for $610 million by Diageo?
- Ryan Reynolds on Mint Mobile
- Ryan Reynolds as a tech investor
- Ryan Reynolds following Ashton Kutcher’s footsteps?
RYAN REYNOLDS ON MINT MOBILE
In a press release, Ryan Reynolds stated,
“Celebrities generally invest in high-end products like skincare brands or delicious gin companies. Yet, Mint is making wireless way more affordable at a time when the average American is paying $65 a month. I am excited to champion a more practical approach to the most important technology”.
Mint Mobile got launched in 2015 as a subsidiary of Ultra Mobile, another prepaid provider. Interestingly, Ultra was a relatively new carrier at the time. It was founded in 2011 by co-founder David Glickman, who is currently an important figure at both firms. Mint Mobile is a subsidiary of Ultra Mobile that has built up a niche in the United States, focusing mostly on prepaid plans for low-income immigrants. While Mint Mobile majorly focuses on attracting a younger population to their service. It is unknown how much Mint has grown since Reynolds took over, but according to a recent report, the company’s sales climbed by a massive percentage between November 2017 and November 2020.
RYAN REYNOLDS AS A TECH INVESTOR
One of the most distinctive features of Ryan Reynolds’ investment strategy is his enthusiasm to immerse himself in each organisation. He deeply gets involved in all parts of his business undertakings. According to Fortune, Ryan Reynolds, as the owner of the wireless startup Mint Mobile answers customer care calls as well occasionally. Along with the usual assortment of suits, he serves on the board of online dating site Match.
When asked why he pursues his investment portfolio, he stated that he enjoys having skin in the game. He also mentioned that paid celebrity endorsements do not help the person involved in any way. A celebrity is taught what to say and is promoting something they do not know much about it. He also felt they have no actual relationship when they receive such cash benefits.
RYAN REYNOLDS FOLLOWING ASHTON KUTCHER’S FOOTSTEPS ?
Another popular actor who is known for his investments is Ashton Kutcher. In Silicon Valley, Kutcher has established a name for himself. Over the last decade, he has invested more than $3 billion in startups and participated in nearly two hundred investment rounds. He is called the most active celebrity investor. The actor began as an angel investor before co-founding two venture capital funds. Kutcher has been an angel investor and founding partner of A-Grade Investments with entertainment manager Guy Oseary and billionaire investor Ron Burkle for almost a decade. A-Grade has invested in many startups. It includes Shazam, Couple, Spotify, Airbnb, Uber, Soundcloud and Muse. According to a Forbes report from 2016, Kutcher and his crew turned $30 million into $250 million.
Did you know Ryan Reynolds and Rob McElhenney recently took complete control of the Welsh club?
Kutcher is often called Hollywood’s most experienced tech investor. He started investing because he wanted to link emerging companies that were developing solutions to everyday problems with individuals who needed them. In an interview with Grow, he shared how he spends a lot of time thinking about new and simpler ways to do things but does not have enough time to execute all those ideas. So, he sought out people who were carrying them out and invested in their success.
The well-known actor also discussed how people should invest in what they know. If you drink beer all the time, go to microbreweries, and sample them all, you probably know which ones are the best. As a result, his advice is to always invest in what you know.
Tell us what you think of Ryan Reynolds’ investment deals and if he is following in the footsteps of Ashton Kutcher in the comments!