You may not have to Ray Ray! Tink Labs raises $125M to put its...

You may not have to Ray Ray!

Tink Labs raises $125M to put its free-to-use smartphone in more hotel rooms worldwide
Posted Sep 28, 2016 by Jon Russell (@jonrussell)

If you travel a lot, or even just a little, you’ll be sick of roaming bills, or frustrated by the inconvenience of the cheaper alternative: buying a local SIM and switching it with your regular one. Hong Kong-based Tink Labs believes it has a better solution, a designated mobile device in your hotel room that you can use for free, and it has raised a whopping $125 million to expand its idea to cover more hotels worldwide.

The new financing was providing by existing investor and manufacturing giant Foxconn (via its FIH Mobile unit), with participation from Sinovation Ventures, the investment firm from ex-Google China head Kaifu Lee, and Cai Wensheng, a prolific angel investor who is Chairman of popular Chinese photo service Meitu.

Tink Labs CEO 24-year-old Terence Kwok declined to provide the company’s valuation, but hinted that it is above $500 million.

“We’re not a unicorn yet, but are more than halfway there,” he said.


Shows that someone is betting 125m that free data has a value!