Amplify Startup Spotlight: Jagofon
Jagofon was part of our first Amplify cohort, Amplify is a 6 module program that delivers a how-to guide to raising investment, pitching and scaling. Doors are now open for Amplify, join now.
“Knowledge was the main reason I decided to join Amplify: the program is very well structured with deep insights from very successful entrepreneurs. We were also fortunate to join Amplify at the very beginning of our journey, so timing was also a key factor.” Stephane Becquart, Co-Founder Jagofon
Jagofon is an early-stage startup that was incorporated in July 2020, they’re now at the market validation stage with early customers and partnerships in place. Here, we talk with Co-Founder Stephane about Jagofon and what’s next.
About Jagofon
Tell us about Jagofon
Jagofon is Indonesia’s first marketplace specialised in second-hand smartphones. Our vision is to empower people with high quality yet affordable technology by rebuilding trust in the second-hand smartphone market.
We offer high quality preloved smartphones. We apply a meticulous selection and testing methodology to bring you the very best. All our phones are legit, extensively tested, 100% functional, and guaranteed. You can also purchase extended warranties on all our products for additional piece of mind. And by buying from us, you’re giving a second life to a device, thus helping to reduce electronic waste and protect the environment.
How was the idea for Jagofon generated?
I was searching for a new business idea during lockdown and quickly settled on an e-commerce model due to my experience in this field and the accelerated transition to digital during the pandemic. I just had to find the right products and settled on second-hand smartphones because in developing countries they are essential to empower people: to communicate, to access information, payments and money itself for the underprivileged: Indonesia counts more than 100 million unbanked people, and the smartphone is a lifeline for them.
What problem are you solving?
New smartphones are too expensive for most Indonesians (median monthly income ~ 350$) and second-hand devices cannot be trusted. Today, people buy pre-owned devices from friends and family (trusted but not specialised), from specialised stores (whom to trust?) or from generalist marketplaces (they are not specialised and do not offer guarantees for the consumers).
We are solving the affordability issue of smartphones without compromising on quality: all our phones are legit, extensively tested, 100% functional and guaranteed. This is a unique value proposition. And we have a positive impact on the environment by reducing electronic waste.
What market are you focused on?
I have been living in Indonesia for more than 15 years, this is by far the biggest market in Southeast Asia, and this is our focus. The Indonesian domestic market is large enough to sustain a unicorn in our space, we have a first mover advantage in this country, and a perfect timing too: the government is now cracking down on black market phones with the enforcement of a tough new regulation to block illegal phones.
The Future
What’s next for your startup?
We are currently working on finding the product-market fit in the vast and complex Indonesian market and are exploring several new partnerships, both domestically and internationally. On the fundraising side, we have already raised more than 150 k US$ from angel investors and would love to join a top-notch accelerator in 2021.
Are you currently fundraising?
Yes, we are. Contact us if interested!
The team
Who is the team behind your startup?
Stephane is a Serial Tech Entrepreneur with 20+ years of experience in telecom (>100 m$ sales), internet & finance, and a Board Member of the Bansea 2 Angel Fund. He possesses an MBA from NUS, a MSc. in Computer Science, and certifications in Machine Learning.
Allan is an Internet marketing expert, hands-on, driven, and operational, who cut production costs by 50% for a leading Australian marketing agency. He oversaw operations at Stephane’s previous startup and is now COO at Jagofon.
Asoka is a full stack developer who masters 6 coding languages. He has 10 years of coding experience despite being just 21 years old! He graduated from BINUS University with a BSc of Computer Science.
And Fadly is a growth hacker with considerable experience in social media, and a former Carro alumnus.
Why are you uniquely positioned to solve the problem?
We have a full team with all the necessary skills to execute and a combination of international exposure and deep local insights.
What is your superpower?
We have adopted the Amazon Leadership Principles at Jagofon and strive to apply them in everything that we do. This gives us a very solid foundation to build on. The ability to focus on what matters the most is also super important for me. And finally, I believe more in hard work than in superpowers!
The Accelerating Asia Amplify Experience
Why did you join Amplify?
Knowledge was the main reason I decided to join Amplify: the program is very well structured with deep insights from very successful entrepreneurs. We were also fortunate to join Amplify at the very beginning of our journey, so timing was also a key factor.
What was your biggest takeaway from Amplify?
Deep entrepreneurial knowledge - very well organised with a wealth of powerful tools recommendations.
Why would you recommend Amplify to fellow founders?
Outstanding facilitators with deep entrepreneurial insights drawn from personal experience and an exceptional ability to create, organise and teach new knowledge. The content and the format are very well designed and organised, which helps to structure the participants learning and gives them immediately actionable insights.
What was the highlight of the program?
The first session by Craig Dixon ‘Capital Raising Foundations’ immediately set the tone and gave me the conviction that this program would probably be the best entrepreneurship course I ever took (and I had quite a few over the years!). The six-week experience confirmed this first impression.
What sessions did you find the most useful?
Apart from ‘Capital Raising Foundations’ by Craig, ‘Product Management for Non-Technical Founders’ by Nesh Sooriyan was a little gem, packed with wisdom, artfully organised, and with great tools recommendations. This was so much more than project management, in essence it was about creating a winning culture!
Is there anything else you would like to add?
Entrepreneurship is hard, but you can change the world! Even if you do not, the journey will turn you into a more accomplished and resilient person. But you have to take the first step. An idea without a plan is just a dream. A plan without action in pointless. Action, massive action, that’s what it’s all about!
Jagofon was part of our first Amplify cohort, Amplify is a 6 module program that delivers a how-to guide to raising outside capital and 10x’ing your startup growth. Doors are now open to join Amplify.
If you are interested in connecting with Jagofon , please reach out to us and we can help facilitate an introduction.
Disclaimer
In making an investment decision, investors must rely on their own examination of startups and the terms of the investment including the merits and risks involved. Prospective investors should not construe this content as legal, tax, investment, financial or accounting advice.