Ajibade Oluwatosin is the second of four kids. He is a 24 year old entrepreneur, CEO Phonetrader.ng and co-founder, Alexbosh International Limited.
Oluwatosin Ajibade - Phonetrader.ng
Ajibade attended Home Science Association Secondary School, and graduated in 2006, after which he moved to Ghana in 2007 to pursue an undergrad degree in Mechanical Engineering.
Ajibade attended Home Science Association Secondary School, and graduated in 2006, after which he moved to Ghana in 2007 to pursue an undergrad degree in Mechanical Engineering. He finished in 2011 and came to Nigeria for his youth service.
He began buying smartphones and sending to Ghana in the last six months of his service, and also began a small petrol business involving buying from depots in Apapa and supplying to companies. He then used the money he was making from here was used to further finance his mobile phone business.
Shortly after NYSC, he returned to Ghana where he became sole distributor of LaCasera bottled drink in Ashanti Region. Somewhere along the line, he ventured into gold trading – a capital intensive venture, and his search for capital led him to a venture capital fund called 440NG.
However, 440NG only invested in tech startups so he decided to team up with a friend who had a tech background (the friend he got the phones he sold from), to pitch a used phone e-commerce business, and got into the incubator program in September, 2014.
Incubation ran till January, 2015 and they got good funding offers. Unfortunately, due to certain issues between both co-founders, they decided to dissolve the partnership.
The underlying idea behind the business was to professionalize the grey-market business of phone trading, used smartphone buying, selling, and repair.
He restarted the business in March 2015 and worked to partner with OEM’s and telcos in order to extend his reach and indeed professionalize the business. He was empowered by 440NG and pitched to a few networks with Airtel agreeing to partner with his brand.
The company launched proper in September 2015 as www.phonetrader.ng
Phonetrader.ng, in partnership with Airtel, sells top quality used smartphones, and offer trade-ins/swaps for customers who so as to get a discount when procuring the new smartphone. The company has a staff strength of 12 including tech support, marketing, sales, engineering and dispatch.
Phonetrader.ng has sold, repaired, and swapped over 200 smartphones since September 2015.
You can find Phonetrader.ng at any of the designated Airtel Stores in Lagos, and it plans to expand to other Nigerian cities soon.
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