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Toronto man crowd-funds to become Mobilicity’s white knight

A Toronto resident has started a $400-million crowd-funding campaign to purchase Mobilicity, arguing the struggling new-entrant carrier must be saved to preserve competition in the $19-billion wireless market. Vaughan, Ont.-based Mobilicity, which is legally known as Data & Audio-Visual Enterprises Holdings Inc., is currently in early-stage takeover talks with Verizon Communications Inc. But it seems the U.S. telecom behemoth is not Mobilicity’s only interested suitor. A male, who self-identifies as “Valya Michael” on the Indiegogo crowd-funding platform, is also eyeing a takeover of the start-up carrier and is canvassing grassroots Canadians to raise the necessary funds. His campaign, entitled “HELP US SAVE MOBILICITY!” had raised a collective total of $233 from three donors as of mid-afternoon on Monday – leaving him just under a month to raise the remaining $399,999,767. The deadline for contributions is Aug. 27 at 11:59 p.m. Pacific Time, according to Indiegogo’s website. “After we have reached our goal we will purchese (sic) Mobilicity and will strive to turn this great company into something great,” reads the campaign’s page. If the crowd-funding drive is successful, the organizers are promising to earmark $400-million as follows: $350-million will be used to buy the company; $20-million will be allocated to […]

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