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Entrepreneurs find success with humanitarian element
Just months after starting their new business, co-founders and Arizona State University students Jeremy Ellens and Dornubary Vizor have collected more than $10,000 in sales.
Yazamo, a business which designs websites, mobile websites and social media marketing campaigns, has seen a large number of clients, in part because the business has a one-for-one model, in the same vein as Toms Shoes, Ellens and Visor said.
For every sale the company makes, some of that money will go toward financing a loan for poor entrepreneurs around the world, Vizor said.
"It's more about financing others rather than making money," he said.
Vizor was born in Africa and spent three years at a United Nations refugee camp before moving to the United States, he said.
"Growing up in Nigeria, I saw poverty first hand and the social problems that come along with it," Vizor said.
With every sale the business makes, they finance a loan through Kiva.com, a website that finances personal and business loans to people living in poverty who otherwise might not be able to secure one.
It's a business model that they believe can become game changing, Vizor said. They are expecting to make $100,000 in sales this year, but it isn't the money that's the driving force for the business idea.