Greendust repairs and refurbishes gadgets that are returned by e- commerce companies and retailers. They claim to be like hospitals for gadgets. Once the gadgets are repaired and certified by Greendust, they are sold at 30- 50 % cheaper. It’s currently a 25 billion dollar industry.
Greendust is the first profitable e-commerce company in India (at scale). In 2014, Greendust claimed profitability with a revenue of 100 cr / month.
The Greendust Story : From Being An Accidental Entrepreneur
Greendust founder, Hitendra Chaturvedi claims to be an accidental entrepreneur. He did his graduation from IIT Roorkee followed by Masters in Computer Science and an MBA from the US. He worked with some of the big firms like Ernst & young and Microsoft in US for 17 years. After that when he returned to India in 2008, he decided to start his own company without any VC funding.
“Don’t compete with what others are raising, focus on what you are building!”
“If you decide to quit your job and become and entrepreneur, then burn the bridge and become the best entrepreneur!”
“Over a period of time, being an entrepreneur humbles you “
He invested his entire life savings and started Greendust.He used to personally travel in autos and pickup products from customer’s house. Later, Hitendra managed to raise funding from Mumbai Angels (By the way, InMobi and Greendust are the only two companies that have given Mumbai angels a return of 8x in a span of one year!).
Today Greendust is Valued at half a billion dollar, have more than 600 employees and have expanded to middle east, Hong kong & US.
It’s such founders who inspire us to push the limits. It’s these founders who execute silently and are the true NextBigWhat!
If you missed UnPluggd 2015, Don’t worry! we are getting UnPluggd 2016 for you on May 6th and 7th in Bangalore (grab your discount : 30% off).