SurgePays Inc. SURG CEO Brian Cox was a guest at Benzinga’s All Access on July 29.
SurgePays is a technology and telecommunications company focused on unbanked and underserved communities. SurgePays-owned Torch Wireless provides subsidized broadband internet connectivity to low-income households through the affordable connectivity program (ACP).
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Benzinga’s All Access Show Meets Brian Cox
When asked how the ACP fits into SurgePay's growth strategy and revenue growth, Cox said the company’s focus is not on how many new customers it acquires on a daily basis. Instead, it looks at how many suscribers they will have in the long term.
"My goal is not how many new customers we can get everyday. … I am thinking a year and a half down the road, how do I get to half a million subscribers by the end of 2023 and reverse engineering the possibilities to end up with that destination," Cox said.
The host, Zunaid Suleman, asked Cox to explain how the communities SurgePays focuses on have been adopting their services.
Cox responded that when the company sets up a tent in a neighborhood, the reception is overwhelming. He noted that the rate of adoption in the places they go to is always equivalent to the number of devices their team bring in each month. For instance, if they bring 35,000 tablets, that will be the number of subscribers they hit in that neighborhood.
Responding to how inflation is impacting the company, Cox said, “We exist in the bottom third of the economy — the low income, underserved, underbanked — so this does not affect us at all. As a matter of fact, it increases our addressable market.” According to Cox, SurgePays hasn’t faced any hiccups from economic tension.
Cox also explained how SurgePays' acquisition of Torch Wireless will help the company achieve its target of 500,000 subscribers by 2023 and the financial strength of the company to achieve that goal.
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