Wakefit

“We say that the moment we reduce the price, we become profitable. So it has always worked for us. Like we grow, we become profit. It's a cycle. Like you become more and more efficient as you keep on getting more and more customers.”

“After that, we work at about we about 40 to 45% gross margins. I think raw material costs about 60%. So 40% of the money is what is used for logistics, returns, marketing, employees, everything. And GST also.”

“When we had gone live with this, we got about two, like, applications. Like, literally people came and filled the form. My traffic on the website went four X.”

“Today, I think some of the videos have some 50 lakh views.”

“I saved about eight, nine lakhs. I raised some seats for about five lakhs, and I took some money from the bank for about four. So, from 18 lakhs put together, I decided to invest in this business”

“And I used to be the salesman in the beginning, like all the, my phone number was available on the website on Amazon. Like people used to call me literally for the first two years of this business.”

“I think in 2015 we did close to 70 lakhs 16 we did close to seven crores and 18 we did 23 crores.”

“I decided from the first phase started that I am never going to build a B to B business in my life because it restricts you from having a very high technological differential capability.”

“So I created a process where every product, once it is delivered to a customer, till today we call customers on telling them how to use the mattress and how to take care of them.”

“In 19, we did 81 or 83. Then we did 200, and then we did four 20 last year.”

“Mattress would be close to 70% of the business.”

“They were selling memory foam matters at that point of time with a price of 40,050 thousand, you know, a king-sized mattress with a price of 50,000. Like, I was amazed. You know, how, how is it possible that, you know, I am selling the chemicals to them. I kno…”

“I think Amazon Flipkart are the true VCs. I would say they have created hundreds of entrepreneurs, like both, look at both, look at Wakefit, look at Mama, look at so many brands out there. Amazon has created those so many D to C brands, right?”

“So I happened to be the first one probably who started mattresses on Amazon.”

“It was 50, 50% from Amazon and 50% from our website. It was mixed.”

“Till we were doing this 21 close-up business, we had spent zero marketing. Like, there was no money involved. No Facebook, no Google, no Amazon, nothing. Like, it was going autopilot.”

“We were profitable by then. We were growing already and automatically we were growing three X, like with no extra points coming in. Business was, you know, full cashflow positive.”

“Equity is in proportion to the risk of people. And it just can't be racist that this guy has got a lot of skills. This guy has got a lot of commitment. He's very smart. He's blah, blah, blah, blah, blah, right? It, equity just can't be related to anything othe…”

“Until then, 31 customers, it was mostly like, how big is the market? Can you become a billion dollar unicorn? Can you do this? Like, it was all superficial numbers. Like, everybody was looking at, can this become a billion dollar company or not, right? But I t…”

“Yeah, we expected to hit about 700 crores.”

“I have spent six years, 10 years not sleeping, so much of stress, but your 2.5 legs have become 75 crores.”

“In fact this is an irony. The person who's trying to sell sleep is not sleeping.”

“We've seen that, you know, people in tier two and tier three town specifically, they generally, because I think there's a lack of electricity. In those towns, and by force, people go to sleep at eight o'clock, nine o'clock, because they can't do anything beyon…”

“The easiest thing that people want to cut in their life is sleep. And it just goes across. And only people who realizes the quality of sleep are those who have friends and families suffering because of this, or probably athletes or coaches who have told them, …”

“More calories are burned when you're sleeping and your organs are rest and stuff like that, right? So more you sleep, the more weightless you are.”

“Earlier, we remember, we go by the data this, we used to sell almost two pillows per mattresses earlier. Now average is four. On almost every mattress, you'll find four pillows. For a double bed mattress compared to two pillows earlier, which means that people…”

“Well, not, not really. I think we would be probably the second or the third largest in India.”

“In fact, this was the reason why we did the sleep internship program, because we wanted to really create a meme out of it in a way. When we said, you know what, can you really, we will challenge you, we'll give you a lakh rupee if you can sleep eight hours str…”

“If you want to have a fight with your spouse, have it before four PM. If you want to have it, you have it before four PM, because if you have it after that, I'm dead sure. We have the research on it. You're not going to have good quality sleep.”

“In fact, when we sell furniture to our customers, the common question that earlier we used to get is like, this will be going to be 20 years. 20 Now people are saying, what this means? This means that people have moved on to, you know, owning things for, becau…”

“We learned that that if you sleep before a certain point in time, which is about nine or 10, your quality of sleep is much, much better compared to if you sleep at 12 or one, irrespective of sleeping for eight hours or nine hours or 10 hours.”

“I worked for a chemical company, so I knew what is the cost of the mattress, raw material that goes inside. I realized that if X rupees, Was the price of raw material? They were selling me at Forex.”