We talked to Abiodun Johnson and Esosa Ighodaro on their newly launched CoSign app to the public, the world’s first mobile app that allows users to earn cash everytime they endorse a product online.
Esosa told us they wanted to explore a new way to turn social media impressions into sales and speed up the purchase process drastically. CoSign uses levels of influence, which increases the revenue percentage in each level and motivates users to work harder.
The social media app aims to change the way we shop online by improving the purchase process and cutting out the extra steps and as well allow consumers to view posts within multiple social media channels and immediately purchase the items with just one click. The “Buy” button takes the user to the product page on the retailers website where they can confirm and checkout within seconds.
The free iOS and Android app transfers social media content into commerce, rewarding users with cash for endorsing and cosigning products like clothing, beauty items, baby stuff, toys, home goods, technology and more. CoSign’s aim is to incentivize the consumer while bringing more exposure to a brand or company.
Ighodaro and Abiodun, developed the app in 2013 and have been working with firms such as Luxury American designer, LaQuan Smith, of LaQuan Smith New York, Harlem’s Fashion Row and Hannan Saleh.
Here is part of the interview
Why the name “COSIGN”?
We wanted a name that meant support and endorse. After looking in the dictionary, we came across “cosign” and we knew it was perfect for our business.
What can we expect from COSIGN in the next 3 months?
You can expect new features for the app, including a shoppable Instagram option.
What is your target market?
We have been attracting a large number of teens and millennials who are style conscious. Our target audience, however, are everyday people who enjoys expressing theirselves through images and sharing their favorite items.
Any partnerships so far?
We partnered with Blogger Babes, LA Digital Fashion Conferences, as well as a few bloggers, such as Wendy from nitrolicious.com
What’s your business model?
Every time a product is sold we get a commission and we share it with the end user.
What’s the best part about your job?
We get to work on a business that we love everyday.
How can more Africans invest in Technology?
Easy! By getting involved in the best way they can. They are several Tech companies out there the people can get involved in.
What have been your biggest challenges running Cosign and how you solving them?
Our biggest challenge is finding the right talent as our team and business grows.
Any funding rounds so far?
We have been boot strapping. We raised a round through Friends and Family and raised $41,571 on Kickstarter.
Why come up with a social-commerce platform and not anything else?
Why not? COSIGN was the solution to our own independent needs. It is also pretty timely with the rate of social media today.
