While the ecommerce companies are fighting a pricing war (and funding PR war), GreenDust which sells refurbished factory seconds has announced that it has become profitable with its monthly revenue run rate around INR 100 crores per month.
Key Data Points From GreenDust
GreenDust claims to have more than doubled in revenue every year in a segment with an opportunity of over $10 billion/year.
GreenDust has served over 2.5 million customers, 50% of which are repeat buyers.
GreenDust had raised $40mn in 2012 from Vertex,
KPCB and Sherpalo (now LightBox).
GreenDust offers customers and bulk buyers the option to purchase unused, branded factory seconds, surplus, overstock and refurbished products (online as well as via physical retail stores). The company has over 250+ stores and plans to make it over 500 within 6 months.
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