24-year-old woman launches telecom company valued at $5.9 million
MONTGOMERY, AL (WSFA) - Montgomery resident Chaymeriyia Moncrief discovered her knack for business at a very early age. She said her mother, who is a domestic violence survivor, and two younger sisters have been her biggest motivators.
“I do have a branding agency and that is what I started at 12-years-old, as a designer, and it officially turned into a business at 16,” said Moncrief.
Now 24 years old Moncrief has expanded her reach in to tech world because of her own bad experience with a cell phone company.
“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," said Moncrief.
This is when Tesix Wireless was born.
“The name comes from two things Technology and sixteen because sixteen is when I started my entrepreneurship journey. The name has a personal meaning to me,” said Moncrief.
Moncrief put in over a year of work to get the MVNO Telecommunications company off the ground and learning the market. She announced the company in 2018.
“Everything is included in the bill. When you pick the $25 plan that is what you pay, when you pick the $45 plan that is what you pay every month no fees. Everything is transparent and straight forward something you aren’t getting with the others," said Moncrief.
The initial launch date for Tesix was Jan. 16, but was moved up to Dec. 28. Moncrief said the decision was made after the company generated more than 3,500 wait list subscribers during their early signup. On top of that prior to the launch Tesix was valued at $5.9 million based on investments and acquisition offers.
“I am a huge thinker and big dreamer. So $5.9 million now what is that worth later. That is an amazing feeling,” said Moncrief. “I can only imagine where it will be 6 months to a year from now.”
In the midst of all the excitement the young entrepreneur is still focused.
“We have people subscribed, but only on a certain network at the moment. By week we should have anywhere from 1,500 to 2,000 people off the wait list,” said Moncrief.
While Tesix is a prepaid service now Moncrief points out in the next 3 to 5 years the goal is for the company to have its own network and be positioned to be its very own carrier.
“An overnight success doesn’t happen overnight. Research, patience and consistency is everything,” she said.
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