Wrist-band.com
| Company type | Private |
|---|---|
| Industry | Technology |
| Founded | 2007[1] |
| Founders |
|
| Headquarters | United States |
| Products | Customized silicone wristbands |
Number of employees | 70 (2015[3]) |
| Parent | WB Promotions |
| Website | www |
Wrist-band.com is an American technology company that manufacturers and retails silicone wristbands online. The company was founded by Zishan Momin and Azim Makanojiya, who was included on Inc. Magazine’s list of the Top 10 South Asian Entrepreneurs in 2011.[4]
The company and its CEO, Azim Makanojiya, pleaded guilty to price-fixing under the Sherman Act and agreed to pay a $1.9 million fine. Azim Makanojiya may face a personal fine and/or up to one year in prison if convicted.[5]
History
Wrist-band.com was founded in Houston, Texas in 2007 by Azim Makanojiya and Zishan Momin. Makanojiya had initially lied and said he started the company as a project while attending the University of Houston as a computer engineering major. The company was actually started as an imitation of another online wristband retailer. Wrist-band.com was sued for copyright infringement and settled out of court.[6] Starting the operation in his garage in Houston, Mumbai-born Makanojiya was also supporting his family financially at the time.[7]
After its first year in operation, the company stated to Inc 500 that they generated over $6.9 million.[8] In 2011, Wrist-band.com was ranked 31st on the Inc 500 list of fastest growing companies and is also included as one of the fastest growing technology companies in Houston although they actually don't create any type of technology and simply outsource production of wristbands overseas.[9]
The company began as a two-man operation taking orders over the phone using a deceptive website using several deceptive trade practices.[10] Since then, it has approximately 30 call center representatives in India and 40 manufacturing employees working in the Wrist-band.com factory in China.[3]
Wrist-band.com operates an e-commerce website that retails silicone wristbands in various colors that can be customized with specific words or phrases.[11]
On August 7, 2017, according to the U.S Department of Justice, Azim Maknojiya agreed to plead guilty to conspiring to fix prices for customized promotional products sold online to customers in the United States. Zaappaaz Inc while they still continue to deceive consumers and use deceptive trade practices such as bait and switch tactics. (d/b/a WB Promotions Inc., Wrist-Band.com and Customlanyard.net) and its president Azim Makanojiya, agreed to plead guilty to a one-count criminal violation of the Sherman Act, but is due in the federal courts again on October 22, 2017.[5]
On August 30, 2017, a customer of this company filed a class action lawsuit against the Zaappaaz Inc, wrist-band.com parent company, since the company pleaded guilty to price fixing and causing damages to customers in that time frame.[12]
Azim Makanojiya is also an investor in Austin based startup, Burpy. Azim Makanojiya has invested $500,000 into the company.[13]
References
- ^ Amy McCullough (March 22, 2014). "Austin-based Startup Burpy Delivers". SiliconHills News. Retrieved January 26, 2015.
- ^ "Student Eentrepreneurs Bootstrapping a Zero logistics E-commerce Company to 19-million: Wrist-band.com CEO Azim Makanojiya". Sramana Mitra. September 26, 2014. Retrieved January 26, 2015.
- ^ a b Raif Karerat (January 19, 2015). "A school project spawned into a multimillion dollar company for Azim Makanojia". The American Bazaar. Retrieved January 26, 2015.
- ^ "Top 10 South Asian Entrepreneurs: Azim Makanojiya, CEO". Inc. Magazine. 2011. Retrieved January 26, 2015.
- ^ a b "E-Commerce Company and Top Executive Agree to Plead Guilty to Price-Fixing Conspiracy for Customized Promotional Products". www.justice.gov. Retrieved 2017-10-23.
- ^ "Lightbeam, Inc. et al v. ZAAPPAAZ, LLC d/b/a WRIST-BAND.COM, and d/b/a CUSTOMLANYARD.NET et al". Justia Dockets & Filings. Retrieved 2017-10-23.
- ^ Rattan Mall (December 22, 2014). "Indian American college student builds a multi-million dollar company out of family's garage". Indo-Canadian Voice. Retrieved January 26, 2015.
- ^ "Indian-American is top wristband seller in US". The Indian-American Diaspora. December 31, 2014. Retrieved January 26, 2015.
- ^ Lalit K jha (December 30, 2014). "Indian Youth's Company Top Seller of Silicon Wrist Band in US". Outlook. Retrieved January 26, 2015.
- ^ "Azim Makanojiya's Wrist-Band.com top seller of silicon wrist band in US". The Economic Times. December 30, 2014. Retrieved January 26, 2015.
- ^ Richard Springer (December 30, 2014). "Wrist-band.com Shakes Up the Customized Wristband Market". India West. Retrieved January 26, 2015.
- ^ "Silicone Wristband Makers Accused of Price Fixing Scheme". Retrieved 2017-10-23.
- ^ "Austin-based Startup Burpy Delivers - SiliconHills". SiliconHills. 2014-03-22. Retrieved 2017-10-23.