The business idea, which began with piles of books in one’s own apartment, quickly filled entire warehouses – as big as nine football fields: In 2006, Christian Wegner founded the start-up company Momox, which buys used books, CDs, DVDs, computer games and now also fashion online and sold again. With its Medimops brand, the company is one of the largest providers on platforms such as Amazon Marketplace and Ebay. Ronja von Rönne spoke to Wegner for the podcast “Meine Erste Million”, who turned a simple idea into a company that generated sales of 312 million euros in 2020 – meanwhile without the founder.
Wegner comes from Brandenburg, completed an apprenticeship in wholesale and trade. He ended up in Berlin, where he couldn’t find a job. “When I was 24, I was in a junk shop, without money, unemployed,” he says. He bought a book for 2 euros and sold it on Ebay for 20 euros. Wegner stayed true to the concept. He started buying CD and DVD collections on Ebay and then selling them on Amazon. In the first month, that brought 1500 euros net, not bad at all, Wegner thinks.
A lot of competitors
The competition did not have to wait long for this idea. “The market became brutal.” That is why Wegner switched from Amazon and Ebay to his own buying and selling shops: Momox and Medimops. The unusual names came from his girlfriend, he says.
The moment when the first million was in the account was “definitely totally great”. He couldn’t really remember it, after all, that was more than ten years ago. In addition, “there was even more money,” says Wegner. The founder has now sold his shares. “I got out after the second burn-out and thought, now you won’t do anything anymore.” That was a year ago, now he would like to get back in. “If you have 15 years of experience, you don’t have to throw it away.”
Only before an interview was he even more excited than before the podcast “My first million”, says Wegner. In the new episode he tells how his “private audience with Christian Linder” was and what he didn’t like about his work.
The legendary Personal-Financial.com interview series “My First Million” is now also available as a podcast. The second season has appeared weekly on Tuesdays since April 20. The entire season with 12 episodes costs 9.95 euros. It’s free for Audible subscribers. You can also listen to the individual episodes for free on Personal-Financial.com +. Guests of the new season include Harald Christ, Claudia Obert, Hamid Djadda, the Beltracchis, Madame Moneypenny and Benjamin von Stuckrad-Barre.
Listen to the trailer for the podcast here: