As mobile phones became ubiquitous and increasingly valuable, the business grew from a few million dollars in revenue at the time of acquisition, to the multi-billion-dollar enterprise Asurion operates today.
Much of Asurion’s growth can be traced back to that decision in 1999, to purchase a small cellphone insurance company. The idea to sell mobile phone insurance presented itself when he came across a phone insurance brochure during a client store visit. So wireless carriers sold roadside assistance for $3 per month when you bought your wireless plan,” explained Taweel. In the early days of wireless, “…the phones were so big you could only put them in your car. It did, however, have an important upside: the product was sold through wireless carriers, and exposed the young company to opportunities created by the emerging mobile phone market. The goal was then to sell it and repeat the cycle. Taweel and Ellis had purchased a roadside-assistance company in 1999 which proved to be a challenging business to operate. Kevin was introduced early on at Stanford to an investment vehicle called a Search Fund that financially supported an entrepreneur’s efforts to locate, acquire, manage, and grow a privately held company.
Techlog center philippines asurion how to#
In other words, taking advantage of the opportunities that came his way and knowing how to react when bad things happen.Īsurion’s business model was totally different when it started. Taweel, whose father is Lebanese, credits most of his successful journey to being lucky and ready. During his talk, Taweel took us through the journey of Asurion, how luck played its part and how tough decisions and competition made his company one of the leading providers of device protection and tech help.Īsurion cofounder Kevin Taweel discussing his company’s success during a LebNet event. On February 13, 2019, LebNet hosted a talk in Silicon Valley, California given by Kevin Taweel and moderated by Abdo George Kadifa, LebNet’s chairman and the managing director of Sumeru Equity Partners. Expanding to offer insurance for mobile phones in 1999, retail service contracts in 2008, and technical support in 2011, Asurion has become the global leader in technology solutions services.
In a little over 20 years, Asurion has expanded to provide its award-winning services to over 150 million wireless customers, with over 17 thousand employees in 21 countries around the world.Ĭo-founded in 1995 by current Chairman, Kevin Taweel and fellow Stanford GSB alumnus Jim Ellis, Asurion began by selling roadside assistance through wireless carrier channels. Headquartered in Nashville, Asurion is one of the largest and fastest growing subscriber-based businesses in the world.
0 kommentar(er)
