Saturday, November 6, 2010
RecycleBank CEO: We Will IPO In 2013 (TCTV)
About one month into his role as RecycleBank's new CEO, Jonathan Hsu is rattling off some ambitious numbers: An IPO by 2013, plans to grow his staff from 150 to over a thousand by 2012, and to reach nine-figures in annual revenues in that same year. That's a herculean task for any company but especially one that plays in the labor and capital intensive world of recycling. And yet, sitting in his new office in the West Village of New York, Hsu seems utterly confident, framing each prediction with a when-not-if mentality. The well-funded RecycleBank? which has raised more than $70 million from VC firms like Kleiner Perkins, RRE Ventures and Sigma Partners? is a recycling rewards program that works with municipalities and large corporate sponsors, like P&G and Kashi, to install local programs in US and UK cities. We recently dropped by the company's headquarters to find out how Hsu will take the company public, video ahead.