Podcast

#17, Why we initially turned down VC funding and bootstrapped to $1 million in revenue – Kendall Ananyi, Co-founder at wifi.com.ng

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“Always provide a fantastic service”

On today’s episode, we have Kendall Ananyi, co-founder of Tizeti which operates as Wifi.com.ng

Wifi.com.ng provides unlimited uncapped internet to users for less than $25 per month.

Kendall has an interesting story.

He has studied as an engineer and has worked with ExxonMobil, Microsoft, and PricewaterhouseCoopers.

He started Wifi.com.ng in order to solve a personal problem. He wanted unlimited and fast internet.

He was told by experts that the idea wasn’t going to work. He was resisted by few people. He had big competition along the way. And he turned turn down $1m funding from a VC because the terms weren’t right.

He then bootstrapped to a significant revenue before getting into Y Combinator accelerator programme.

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On this episode, you’ll learn:

  • What the original idea for the business was and how they started wifi.com.ng
  • How to go after and actualize an audacious goal
  • Why several people told them the idea wasn’t going to work and what they did
  • That wifi.com.ng was a side hustle and that Kendall had a full-time job
  • How to turn a personal problem into a business opportunity
  • Why competition is not bad for you
  • How to identify your unique selling point
  • How they bootstrapped their company to massive revenue
  • Why they turned down $1m VC funding
  • How they got into Y Combinator
  • Why they launched as Wifi.com.ng instead of Tizeti
  • The lessons they learned from YC
  • The next challenge Kendall intends to solve after Wifi.com.ng
  • And more
Also Read  Episode 23, Making Nigeria an easy place to do business- Tola Onayemi, SA Industry, Trade and Investment

Selected links from this episode

 

This episode is brought to you by JEE Clients Services. Have you ever left a negotiation feeling that you have lost, over-committed or will be over-paying? Negotiation is one of the most important skills you’ll ever require as a business person. That is why you need to attend this online masterclass put together by JEE Client Services on 14th November 2017. At the end of the webinars you will understand how to gather intelligence and prepare for negotiation, how to set expectations, how to bargain across cultural borders, how to deal with deadlocks during negotiation, and a lot more. Go to www.jcs.ng and register. The first masterclass is free for listeners of this podcast. To register go to www.jcs.ng

 

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About the author

Dotun Olowoporoku

Dotun is an accidental entrepreneur, recovering academic. But found it more interesting to be a startup pirate than join the academic navy.