*NEWS: Tablet Company Receives Investment
A company that makes a tablet specifically for senior citizens entered into a partnership with a wireless carrier to make the tablet available nationwide.
Consumer Cellular invested in GrandPad, with HQ in Orange, according to a press release issued by GrandPad. The amount and equity stake have not been disclosed.
Consumer Cellular will now be the exclusive distributor of GrandPad, according to the release.
It will sell directly to customers online and over the phone. GrandPad will connect to Consumer Cellular’s established network, eliminating the need for Wi-Fi.
Consumer Cellular is reportedly the nation’s top-rated mobile service provider for adults over 50. The company has been an AARP provider since 2008, offering members special discounts.
As a result of the investment, Consumer Cellular CEO John Marick joined GrandPad’s board of directors.
GrandPad was launched in 2014 by founders Scott Lien, who serves as CEO, and his son Isaac.
The tablet costs $200 and includes a wireless charging dock, magnetic smart case and stylus. For a monthly service fee of $40, customers receive unlimited data, so they can call, video chat, email, share photos and stream music without any additional charges.
This investment follows one last year, when GrandPad sold an equity stake to Acer, with HQ in Taiwan, one of the largest PC makers. Acer exchanged $11 million in preferred stock for about 49% of the company, according to news reports at the time.
Prior to that, GrandPad received a $1 million investment from Tech Coast Angels OC in Irvine. TCA is the leading source of funding to early-stage companies in SoCal and the second most active angel investor network in the U.S. in terms of funded deals.
GrandPad also partnered with ride-share service Lyft in November, so Lyft could provide rides for seniors who have the tablet.
GrandPad, a privately held company, does not disclose revenue.