Igbo Man, Chinedu Echeruo, Made N366Billion From A Software He Developed.
Igbo Man, Chinedu Echeruo, Made N366Billion From A Software He Developed.
By Rowlandgate.
An Igbo man by Chinedu Echeruo built a software that his sold to Apple Inc for a whooping of $1 billion which is approximately N366Billion in Nigerian currency, this is a welcomed development.
Chinedu Echeruo was born in the East but had his secondary school in Lagos state at Kings College , he obtained his B. S at Syracuse University in Finance and accounting.
He later earned his M. B. A from the Harvard business school in United States. Chinedu put his degrees to use while working at J.P Morgan Chase , an investment banking company. there, he was involved in a broad range of M&A, financing private equity transactions.
Later on, he left his job to start up his own project which was a software development and he built Hopstop.com-in 2005. The idea to develop this navigation pedestrian service came when he got tired of getting lost in the New York Transportation System. His frustration pushed him to create a service that would help to get door to door mass transit, walking, biking and taxi directions from various part of the country and other part of the world.
Hopstop covers about 300 cities in the United States and in Canada, Europe and the United Kingdom quickly made a name for itself in the location based service industry.
It won few awards in 2007 and later listed as one of the 100 rapid growing companies in the United States. In 2010 the company had grown 250% and generated about $1 million revenue per annual in 2012, it caught attention of the world tech giant Apple Inc who purchased the app for huge some of $1 billion.
