A unique startup started from the basement of an ordinary home remains a topic of discussion on social media today. A 23 -year -old young man from America sold the business that started from just ₹ 35,000 (about $ 400) for Rs 36 crore ($ 4.2 million) in a few years. His entire story has been shared on Reddit, on which thousands of people are commenting and taking inspiration.
The young man said that he had started a company called ‘Dankstop’ from the basement of his house. It was an e-commerce store, selling cannabis accessories. The initial investment included an amount of ₹ 35,000, making them a website on bigcommerce and bought samples of some initial products. Later, he shifted his store on Shopify.
Cost reduced, increased profits and sold for crores
This young entrepreneur said that in the year 2020, he shifted all his vendors to the dropscripting model, which ended overhead expenses like storage and delivery and the company came into profit. In the same year, he sold his successful company for about ₹ 36.6 crore ($ 4.2 million).
When his story shared on Reddit, it became viral on seeing it. Hundreds of users commented – someone said “hire me”, so someone wanted to know in detail about their strategy. One user asked where was the initial ₹ 35,000 spent? To this, he replied that these money was spent in taking membership of bigcommerce and buying some product samples.
Now running software startup
After selling Dankstop, the life of this young entrepreneur took a new turn. Now they do not live in the basement. He has invested in many properties rented for holidays and has also started a new software company. His personal life has now come stability. He is living a relaxed and happy life with a good spouse and a cute dog. His new startup is MyUMBrella AI, which helps e-commerce companies in warranty management.
Unique solution for warranty
Myumbrella AI is a SAAS (Software-AA-A-Service) company that completely automatically automatically automatically automatically automatically processed from sales to claims and its solution. Its most special thing is that this model is self-ignorant-that is, no commission or additional fees are charged in it.
According to the founder of this startup, he is the only player in this field to handle the entire process without any manual interference. When he was asked when the customers started meeting his first startup, he replied smiling that I was 23 years old. One of my reddit post had gone viral, and things started from there.