What's going on. I'm Rich Demiro and this is a Rich on Tech quick hit. How does phone service for just forty dollars a month sound? Well, that's the idea behind Visible. This is a service that is all included for forty dollars a month, and the key part of the deal is that the Visible network is actually Verizon's network. Joining me now is Miguel key roga CEO of Visible, to tell me all about it. Miguel, Welcome to the show.
Thanks Rich, glad to be here.
So tell me about Visible. Because we did this story last year on KTLA. It was one of the most one of the most popular stories of twenty eighteen because nobody could believe that you can get basically Verizon service for forty dollars a month.
That's right, Yeah, No, it's been super exciting and thanks for having us back on.
Yeah.
So, basically Visible is a simple, easy to use, one price, one plan, so unlimited data, voice, text, mobile hotspot on Verizon's fourteen for gale network for forty dollars a month. And the key is that there's no taxes, no fees, no additional activation charges. It's what you see is what you get. And I think the key to this whole offering is how do we make sure we give customers exactly what they're looking for, which is great service, great experience, and a great product.
Now here's the thing. When we talked about this the first time around, you had a five megabit limit on the speed So that was basically the only downside or catch per se that I can find was that you know, your speed was limited. So it was on the Verizon network, but it was you know, the data was capped in a way where if you're trying to download a file, it might be slower than someone next to you on
a Verizon phone. Now you're telling me that you're actually going to lift that speed cap, so tell me about that.
Yeah, it's interesting. You know, we you and many others had talked about like what is the ractual difference in that speed cap, And what we found for most customers is that it didn't have a material difference in terms of the type of experience that they actually had. But on the other hand, we actually did have customers who had specific use cases and they felt like, hey, there
are some things we could try to do. So, you know, we heard a lot of that chatter and kind of the premise of our business is how do we how do we actually deliver the type of experience as customers want and we'll actually just try it. And so essentially that's what we're doing. So for a limited time, both for new and existing members, will offer essentially no speed
cap for no additional costs. And what that allows us to do is really understand what the member experience is without that speed cap and see if essentially it's accomplishing some of the things that users have asked us they'd like to do.
So you said existing users will get this, as we'll new and new, and you say it's limited time, So what does that mean for me if I sign up?
So if you sign up today, as long as you're a Visible member, you always have essentially that speedcap removed.
So you may you reserve the right to remove it for future customers, you know, like if you say, okay, this is just getting too crazy, then you can maybe take that away. But if I sign up for this under this plan, that's it.
That's it a month.
Okay. Tell me the relationship between Visible and Verizon.
Yeah, so Visible is a fully omeed subsidiary of Verizon. We operate independently. Our entire infrastructure, our tech stack, or people or operations are run independently. And the premise of what Visible is about, it's based on the basic consumer insight that says, Look, the mobile carry industry is many decades in the making, it's incredibly important in day to day modern life. But there's a way to make it better.
Why can't that experience be better? Why do I have to sit in line in a store or I have to wait on a phone to actually get the basic services? And why do I have to be surprised about a
bill that's constantly changing underneath me. So those basic things we think can be done properly and done well, and so we built Visible from the ground up with that concept in mind, really customer first, customer centric type of product development, and that's how we arrived at the type of offering we had with based on all the research and consumer feedback we received.
Now, some people might think, oh my gosh, why would Visible or why would Verizon allow this to happen, But the reality is they're two different offerings. Verizon is full service everything you need you want to activate an Apple Watch, that you can do that you want international, you can do that. You want to go into a store and
talk to someone, you can do that. Visible is different because it's really geared towards I'm seeing it as like the single line consumer, right, kind of a smart consumer that wants to save money but also wants a really good network. Because you can get forty dollars plans, you can get twenty five dollars plans. You're not getting the Verizon network with those plans per se.
Yeah, and I think we think about it as one of the most compelling offers in the market for that exact audience you describe a single line customer. You know, we have customers who can come up now and if they have an iOS device, they can basically broadly be
compatible with the network. And they also we've also introduced the ability to buy devices as well, so you can buy iPhone devices, you can buy Android devices also, so for customers that are looking to not only switch carriers but also purchasing the device, we offer zero percent financing, zero dollars down as well as device protection. So those different offerings and capabilities we think give customers what they're looking for in a mobile carrier without all the complexities.
You know, they can essentially have that experience you just describe from the comfort of the couch or their life and the go. And that's really what we're pointing at, is trying to help those customers and meet their needs.
And the way that you sign up for Visible is all through the app. So if I have if I have a Verizon phone, I assume it works pretty simply. You know, I can put in my Visible SIM and it works. What if I'm coming from like eighteen and T I'd have to get a new phone basically, or is iPhone not because it's got all the bars or all the bands?
I don't know. Yeah, So the best way to think about it is the iPhone ecosystem of phones is broadly pretty much everything is compatible from six on up, and there's a few devices but just a double check. You can go online you can validate that your specific phone is compatible, but broadly iOS ecosystem is fully compatible. Then we have specific Android devices. As we go, We're arranging more and more new devices as we work with different manufacturers.
So for example, we have the Samsung S nine, the Pixel three and three XL, and we have other devices coming up in short order the next coming weeks and we're super excited about that also.
But bottom line, if I have an iPhone, even from a different carrier, chances are I can get it to work with it, right yeah, yeah, And so I have to send away for a SIM, that's right. So when I sign up in the app or I so tell me how that process works. I can't really go to like I can't go to Best Buy and get like a SIM, that's right.
Yeah, So I mean part of it. It's like think of it like phone in a box if you will. So, like we'll just ship you essentially everything you need to basically get started. So you go online, you go into the app, or you go into the website Visible dot com. You essentially do the sign up process. We'll ship you overnight you a SIM, and we'll deliver you that SIM directly to you. You can then activate it whenever you need.
You don't have to sit in line waiting for the next person to get in line to actually activate your your service, and we'll basically help you through that process.
So forty dollars a month, what do I get for that price?
Yeah?
So so there, it's all included. So it's taxi fees. Everything is is so my bill is on my credit card. Forty bucks a month.
Yeah, you get forty bucks a month, and that's it, Like, no taxes and fees, that's all included. There's no activation on the device, there's no activation for the service there. That's it, you know. So today it's forty dollars and the next month that's going to be forty dollars, So it's highly consistent. What you get essentially is the full offering.
It's the unlimited data, voice, text, and mobile hotspot on Verizon's four GLT network and now for limited time as well, the uncapped five megabit data speed.
So it sounds too good to be true. If I'm explaining someone this plan, they're like, well, I'm paying ninety dollars through my regular carrier, how is it forty bucks?
Yeah, that's a great question. Our business model is set up to essentially solve that specific customer pain point, and we're passing a lot of the things that we know about the mobile industry as value propositions directly to the customer. So because we don't have the store environment, because we are essentially doing it direct to consumer, there's no middle person involved, in no middle layer where we'll provide that simple experience directly to the customer.
Okay, and how has been business been? Because we did a story with you when this basically first came out and it's about how long now it's.
Just been about a year, and we're really excited and we're feeling very confident about the scale of the business and the business model. It's really proving well and consumer engagement is really high. We really think that overall, we're excited about where the business is going and the additional interest that it's continuing to generate. It's amazing to exactly your point, Like, when you think about it, it's too good to be true. Consumers just value the basics right.
If you get the basics right, that's what's really compelling, because so often in this category many you know, you're surprised and it's not always the best of surprises. And what our goal here is get the basics right. And when you get the basics right, the product experience is awesome and that's what people really value.
I imagine you walk around the halls that you're do you share offices with Verizon.
At all your own headquarters.
Okay, they probably did that on purpose, because I can imagine the Verison people going like, wait a second, why do they get to do that. We can't do that, we can't offer that, we can't have that, and you guys just keep like breaking all the rules. Right. Do you feel like that? Do you feel like the rule breaker at Verizon? Like, I'm glad they're letting me do this.
I think the way we think about it is there's an opportunity to change the industry. You know, the industry has been largely the same for a number of decades, and we think there's an up to you to do something new. It's twenty nineteen, you know, there's all the things that we know about how business models can change, and we willing to bring directly to the consumer. And we don' want to wait for something to happen. We
want to make it happen. So we're leaning into that and really helping bring that type of offering to the customer.
All right, Miguel key, Roga, CEO of Visible, anything else we should know before we go?
H No, I think you know. Visible is here to basically try to solve this customer challenge in the environment of how do I get mobile connectivity and mobile the service to be simple, transparent, and easy to use. Every day, we're focused on that. Every day we're focused on helping our members have that type of experience. So we're super excited to be here and look us up.
All right, Visible dot com. Thanks so much for joining me today on the podcast. I do appreciate it, and thanks to you for listening. If you like what you hear, definitely subscribe in your favorite podcast app, and since this is the new quick hit version of the podcast, let me know on social media if you like it. You can find me at rich on tech Omrich damiro. I'll talk to you real soon. Bye bye