25-YEAR-OLD CREATES $7.3M TELECOMMUNICATIONS COMPANY
25 year old Chaymeriyia Moncrief, launched Tesix Wireless, a telecommunications firm offering prepaid cell phone service eight months ago, and it is already valued at $7.3 million.
The Alabama native said the idea was birthed out of frustration with cell phone companies and their hidden fees. “You go in and they say your phone bill is going to be $98, but you are getting a $150 or $200 bill. I think the final straw for me was a $235 bill, and that is when I said I want my own company,” Moncrief told WSFA.
Tesix wants to get rid of everything millennials hate about their wireless plans and give them more of what they want. The company boasts no contracts, unlimited data, unlimited talk and text and a free customizable 2nd phone number, so we can get rid of those Google voice numbers for business.
Before its launch in December 2018, Moncrief received a $4.4M oﬀer to sell the company. Tesixwas already valued at over $1M and rising because of its customer waitlist and notable investments from several high profile people including Ladarius Gunter (former-Green Bay Packers Cornerback), Shaun Hamilton (Washington Redskins Linebacker), and Ayodeji Olatoye (Atlanta Falcon Cornerback). Moncrief turned the offer down.
When asked why she turned declined the offer Moncrief said, “If anyone is willing to oﬀer this amount of money for a company that hadn’t launched, it was because they saw value, they saw the worth. What they didn’t realize, however, is that I too saw the value of my company.” By the time Tesix launched, its value had already surpassed the initial offer, coming in at $5.9M.
Since her target audience is millennials, Moncrief does a lot of her marketing via social media. She’s been busy partnering with influencers to increase the brands profile and spread the word. The company is currently valued at $7.3M and has seen an influx of subscribers since its 1st quarter.
Moncrief’s goal is to build out her own infrastructure and be able to provide an in house network and make Tesix its own carrier. Currently, the company is opening two stores and recently released its very own smartphone.