Alabama native, Chaymeriyia Moncrief, a 25-year old created a telecommunications company that offers prepaid cell service to its subscribers. Tesix Wireless began offering the prepaid cell phone service a mere 8 months ago and is now currently valued at $7.3 million and has also seen a high increase in subscribers since its inception.
The idea for Tesix came from being annoyed with cell phone companies and their hidden feed. Moncrief said, “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."
Tesix has its sights set on eliminating all the things millennials despise about cell phone plans and to offer them more of what they want. Tesix does not have contracts, has unlimited data, text, and talk; all things millennials value. The service also allows the customer the opportunity to customize a second number for free, which will help to rid the industry of the Google voice numbers used for business. Since millennials are the target market, Tesix does a lot of advertising on social media. Tesix partners with social media influencers to get the brand's name out.
Before launching in December of 2018, she received an offer to sell her company for $4.4 million. At the time, the company was already valued at over $1 million because of the customers on the waitlist alone. Moncrief decline the offer. Tesix had received investments from several NFL players such as Shaun Hamilton, Ayodeji Olatoye, and Ladarius Gunter. Once she launched, the company was then valued over the asking price of $4.4 million at $5.9 million.
When speaking on why she 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.”
In the future, Moncrief plans to establish her own infrastructure to be able to give Tesix its own network. Tesix is in the process of opening two stores and has also just released its own smartphone. If you are interesting in switching, head on over to the website. Great work Chaymeriyia and never sell out!!! This is how we begin to build generational wealth as a people.