M'sian Startup Behind 'Simplify' Has Become One Of The World's Most Innovative Companies
Simplify, a peer-to-peer Internet sharing platform that allows smartphone users to buy and sell mobile data, has made the nation proud by becoming one of the most innovative companies of 2017
The award was given by Fast Company, a monthly American business magazine published in print and online that focuses on technology, business, and design.
Most Innovative Companies is one of the magazine's most significant and highly anticipated editorial efforts of the year. To produce the 2017 list, its reporters surveyed thousands of enterprises across the globe to identify the most notable innovations of the year.
The startup stands proudly alongside global tech giants such as Amazon, Airbnb, Facebook, Google, and Uber - making it one of the youngest companies to win this hallmark title
“This achievement has been remarkable for us, given that we are a very young company. We would like to convey our utmost gratitude and dedicate this honour to the Simplify user community,” says Simplify CEO and co-founder Yen Pei Tay.
How does Simplify work?
It’s fairly straightforward. Users can choose to sell their mobile data at a price they think is best.
The app is very useful for frequent travellers.
Imagine when you are riding on an Uber, the driver shares his Simplify hotspot with you, charging on a pay-per-use basis. This proves extremely useful while travelling abroad without a data plan, eliminating the need to buy a local SIM card.
By turning smartphones into little wireless hotspots, Simplify is also providing an extra mile of connectivity for a good cause
It opens up new possibilities of instant “on-the-spot” connection and brings affordable Internet access to the masses. The technology behind Simplify automatically creates an encrypted password, letting other users connect to the seller’s device hotspot securely, without having to ask or key in any Wi-Fi password.
According to Tech In Asia, the app only charges what you used. For example, if you buy one gigabyte for RM5 but consume only 10MB, the ensuing payment will be five cents. The team takes a 25% commission.
Sharing apps like Simplify wrestles the bargaining power back to the consumers and create value that lasts
Simplify’s Internet sharing idea was first formulated at Massachusetts Institute of Technology (MIT) where Tay attended the Global Entrepreneurship Bootcamp a few years back.
“This is only our first step to reshape telecommunications industry. The future holds tremendous promise for mobile connectivity and our team is currently exploring to launch Simplify drones to provide autonomous, self-organizing hotspot. Instead of chasing Wi-Fi signal, why can’t we let the Internet come to the people,” added Tay.
A big congrats to Simplify! Well deserved win! :D