Eze connects thousands of buyers worldwide to used and new smartphones, laptops, tablets and other electronics wholesalers. EZE was founded in 2020 by Joshua Nzewi and David Iya.
Visit www.ezewholesale.com to order and learn more.
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Meet the Founders of Eze, A Global Wholesale Electronics Online Store
Eze (pronounced — “Easy”), headquartered in Los Angeles, California, connects thousands of buyers worldwide to used and new smartphones, laptops, tablets and other electronics wholesalers. It was founded in 2020 by Joshua Nzewi and David Iya.
Q: Can we meet the duo of Eze?
Josh: I am Joshua ‘Josh’ Nzewi, CEO and Co-founder of Eze.
David: David Iya, CTO and Co-founder of Eze
Co-founders of Eze: Joshua Nzewi (left) and David Iya (right)
Q: What’s the motivation behind creating a global wholesale electronics business?
David: It all started with the iPhone X. It just upgraded, and I wanted to sell my iPhone 7. After trying to get the best price possible – online and offline, I discovered a vast price disparity. I saw an opportunity to make additional income. So, we started buying phones locally and selling them online in 2017. We pulled together funds and began aggressively buying as many used devices as we could.
Josh: Yes! David called me one day, telling me that we could buy devices locally and resell them online. We both started doing it in our respective cities, trading solely iPhones. In mid-2018, we had clientele throughout the United States and traded more than $8M worth of smartphones.
As we continued, we discovered some inefficiencies that were not beneficial to resellers and even the final consumers. We deeply investigated the industry and discovered these issues were not peculiar to the US market alone. That was when we knew this was a problem we wanted to solve. We started attending trade conferences and other events, which exposed us to a whole new world of traders.
Q: What challenges did you face when establishing the business, and how did you overcome them?
David: Distance was a barrier. We lived in different cities – New Orleans and Jacksonville and were both working. We were juggling many things, and building a business requires your all. So we decided to make it a full-time job.
Josh: As a startup, we needed funding and backing too. They are two important elements. One of the things we are grateful for is the Ycombinator Accelerator Program. It opened doors for us.
At that moment, we knew we needed to position Eze as the future of electronics wholesaling, not just a company that sells iPhones. We became more intentional about our approach to things by hiring the right talents, getting relevant certifications such as R2, ISO, and MBE, and conducting extensive research into new markets to build our trust and credibility as a global business.
Q: Eze deals with devices in large quantities. How do you source these devices, handle product quality control, and ensure they meet the required standards?
Josh: Since we began with predominantly used devices, sourcing is done in the US, though we have plans to expand in the coming year. For now, we onboard US-based sellers who meet our minimum requirements, have a steady supply of inventory, and ensure the devices gotten are of top quality.
Quality is very important to us; we want to ensure that what you ordered is what you get. So we ensure the devices sold go through vigours checks and grade them based on our transparent grading system available on our website for customers. It is a priority for us.
“Though the devices are used, it doesn’t mean they are useless, even if it is a Grade C iPhone. It might just be what a consumer needs to make them smile.
Q: As a B2B business, who is your typical target customer, and how do you attract and retain them in such a competitive market?
Josh: When we started Eze, it used to be retailers and wholesalers of electronics. However, we found that businesses also buy devices in bulk and would order them from a retailer/wholesaler at an increased margin. So why not bridge that gap! So we expanded our services to businesses worldwide, no matter the firm’s size.
On our platform, we have different ways devices can be bought. You order from the live inventory, place an offer, and a seller accepts or participate in a bid by a seller.
Q: Let’s focus on the sellers on your platform. What strategies are implemented to build strong relationships with suppliers and manufacturers who sell on Eze?
Josh: In simple terms, great margins and an extensive buyer network. This is the first thing we have that attracts every buyer. Right now, we are making the platform an online store they can manage wherever they might be.
David: Eze introduced a fintech play – Eze Capital; it acts as a new revenue stream to complement the transaction margins. It will allow businesses, either buyers or sellers, to finance their inventory and engage in other activities for their business’s growth. However, the product, having already disbursed about a million dollars since last year, is only available within the U.S.
Q: Are there any partnerships or collaborations that have been particularly beneficial for your business?
Josh: Logistics! It is an essential component of our business. We partner with FedEx for logistics in the U.S., Europe, and Asia and use third-party logistics services across our Latin American and African markets.
David: The integrations we have on the website are also beneficial partnerships. We are working with diverse companies to aid payment in multiple currencies and to fund business via our product – Eze Capital, as mentioned earlier. We are basically in partnership with banks and merchant financing companies.
Q: How do you measure the success of your online store, and what metrics or indicators do you focus on?
Josh: I’ll say the basic metrics. Number of active customers, locations sold to, number of SKUs and devices sold, defect rate, and of course, the revenue generated. This makes us know the regions we’ve penetrated and what consumers want.
David: From the technical angle, I will like to add the customer satisfaction rate with the overall performance of the website and ease of purchase. We are big on ensuring customers can buy devices easily with a few clicks.
Co-founders of Eze: Joshua Nzewi (left) and David Iya (right)
Q: Can you share any interesting success stories or milestones you’ve achieved?
Josh and David: Definitely. Earlier this year, we were recognised in the Forbes 30 Under 30 list under Enterprise technology category. That was a memorable achievement for us. The success of our recent funding round also is a big milestone for us.
Q: Can you share insights into your plans or initiatives for Eze?
Josh: We’ve expanded our electronics offering to include other brands of smartphones, desktops & monitors, gaming consoles, graphic cards, tech accessories, tech parts… the list goes on. And are venturing into new markets in Africa and Asia.
A primary objective is to provide a competitive price or a distinctive value proposition that sets us apart in the market and entices customers to choose Eze. So, we plan to establish more partnerships with manufacturers and local wholesalers in the regions targeted for expansion. This approach will enable us to swiftly establish a foothold and capitalize on their existing networks and knowledge of the local market.
Strengthening our logistics and supply chain operations is also part of our strategy to support this expansion, ensuring prompt delivery and efficient inventory management across multiple regions. To maintain customer satisfaction as we grow, we are placing a high priority on enhancing customer support across these regions; that is, sales reps.
In line with our expansion efforts, we are making significant investments in enhancing the e-commerce capabilities of our website. This will allow customers from various regions to easily place and order and make payment.
Co-founders of Eze: Joshua Nzewi (left) and David Iya (right)
Q: Is there anything else you would like to share about your journey as co-founders and the growth of your electronics wholesale online store?
Josh: As founders, our journey has been an incredible learning experience. We’ve realized the importance of being open to learning from everyone, particularly our team members. Their diverse perspectives and expertise have been invaluable in shaping our business and driving its growth.
In addition to that, we strongly believe in creating products and services that not only add value to people’s lives but also contribute positively to the environment. Sustainability and ethical practices are integral parts of our business philosophy, and we strive to incorporate them into every aspect of our operations.
David: I agree! Overall, our journey as founders has taught us the significance of continuous learning, embracing diverse perspectives, and ensuring that our business creates a positive impact on both people and the environment. We remain committed to these principles as we continue to grow the business and shape the way our customers access inventory.
About Eze
Eze is an online B2B wholesale marketplace for used and refurbished smartphones, laptops, tablets, and other consumer electronics. At Eze, our mission is to provide unrestricted access to quality electronics worldwide in the $100 billion secondary electronics market. Visit www.ezewholesale.com to order and learn more.
