SaaS Interviews with CEOs, Startups, Founders
1275 25 Year Old Hits $10k in MRR with his 3 Friends as Co-Founders
20 Jan 2019
Chapter 1: What is the main topic discussed in this episode?
He's stuck with his four friends across many companies. They launched this one in 2017 after exiting a health tech startup. Green Deck is helping retailers, fashion brands, and others dynamically price, get pricing recommendations real time, and then use information from Green Deck to make, again, those decisions manually themselves on their platforms, even on a daily basis.
They've got four customers right now paying about $2,500 per month, so $10,000 per month in revenue. They've raised $120,000 from Techstars and SAP. They went through the Berlin program there. This is the Top Entrepreneurs Podcast, where founders share how they started their companies and got filthy rich or crash and burn.
Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines. We went from a couple hundred thousand dollars to 2.7 million.
I had no money when I started the company.
It was $160 million, which is the size of many IPOs. We're a bit strapped. We have like 22,000 customers. With over 5 million downloads in a very short amount of time, major outlets like Inc. are calling us the fastest growing business show on iTunes. I'm your host, Nathan Latka, and here's today's episode. Hello, everyone. My guest today is Ayush Jain.
He is the co-founder and CEO of GreenDeck, which helps online retailers increase their profits by implementing dynamic pricing. Before GreenDeck, he co-founded TrueMD, an online pharmacy, and HealthOS, APIs for healthcare data, and led to its acquisition by a giant Indian IT firm. Ayush, are you ready to take us to the top? Yeah, that's right. Very good.
So look, you go from kind of health tech space to dynamic pricing for retailers. Why the switch? Why not stay in health tech?
Basically, the team background that we have, we are all tech guys. The essential thing is that we want to stay at the core of the technologies. Primarily, we all are developers at heart. It's a team of four co-founders. The health tech business that we started off was not really a health tech business.
We started an online pharmacy, which is something like the way you have pill pack in US or something like that where patients upload their prescription on the mobile app, and we get the medicine delivered to the doorstep.
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Chapter 2: What inspired Aayush Jain to switch from health tech to dynamic pricing?
So a fair average would be call it 3,000. And that's US dollars or euros?
That's euros.
Got it. So 3,000 euros would be like, call it 39, 3,800, something like that, US dollars.
Yes, that's right.
Okay, great. And what year did you launch the company in? I'm sorry? What year did you launch?
So we launched this company somewhere around June last year.
Okay, good. So that would have been 2017. And what have you scaled to today in terms of total customers?
So in terms of total customers, you know, we, so we have very, very, you know, just in past six months, we have narrowed down our focus to e-commerce. So right now we have our customers, we have four paying customers and we are in talks, we are doing a pilot with a couple of big companies, which are listed companies right now.
And hopefully we, you know, we intend to close them for a contract very soon.
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Chapter 3: How did Aayush and his team gather healthcare data for their previous startup?
It's not important to your business. Have you bootstrapped this or raised?
So we were a part of Techstars accelerator program in Berlin. So we have raised a pre-seed round from Techstars and SAP.
Okay, got it. And so how much money have you raised total?
$120,000 US dollars.
How much?
$120,000 US dollars.
Got it, got it. And most of that was from TechCrunch and SAP. Yeah, Techstars. Techstars. Oh, sorry. Yeah, Techstars and SAP. Okay, good. All of us in the software world also have subscriptions to a thousand different software platforms, and it can be challenging to figure out which ones you should invest your time and energy in versus ones you should ignore. So, I mean, I have this problem.
We're scheduling hundreds, actually thousands of B2B SaaS CEOs for this podcast. and I needed a good tool to manage all this scheduling. So I went to Capterra and essentially looked at who ranked highest, who had the best reviews, and narrowed it down to essentially book a fee, appointment, and acuity scheduling. I now use a combination of these three tools to do efficient appointment scheduling.
What Capterra has built is extremely impressive. I don't know if you guys know this, 700,000 reviews of products from real software users help you discover everything and really make an informed decision. They cover over 700 specific categories of software from project management, which we have a lot of these CEOs on the show, TML marketing to yoga studio management software.
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Chapter 4: What is GreenDeck and how does it help retailers with pricing?
Thanks a lot. Have a good day.