Today on the show Jayson is talking with Ajay Prakash and James Joun, co-founders  of Rinse, a laundry and dry-cleaning app started in 2013. Ajay was COO and CFO of Humble Brands, a consumer product startup. He also had experience at Bonobos, Berkshire Partners, the NBA and Bain & Company. James was a health care investor at Essex Woodlands, a product manager at Genentech, and a consultant with Monitor Group. 

The company, founded by Ajay Prakash and James Joun, is headquartered in San Francisco. Rinse is a portfolio company of Green D Ventures and Yard Ventures. Rinse started serving customers in 2013, but it was actually 30 years ago when the story really started. Joun’s parents have owned a dry cleaning storefront for more than three decades, and for years he’d been wondering how to increase sales in a particularly static industry. Ajay Prakash, befriended Joun at Dartmouth university. James Joun has degrees from Dartmouth and Harvard Business School. Joun was schooled in operations, such as running contraptions like the topper, which presses pant tops, and in the finer points of separating dirt and stains from all manner of fabrics. Joun now competes against the people who brought him into the business who also happen to be his parents.

 

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Mentioned in the Episode:

 

Rinse’s Website - https://www.rinse.com/

Rinse’s Twitter - https://twitter.com/Rinse

James’s LinkedIn - https://www.linkedin.com/in/jamesjoun/

Ajay’s LinkedIn - https://www.linkedin.com/in/aprakash03/

Ajay’s Twitter - https://twitter.com/aprakash03

 

Timestamps:

 

1:38 - James’s Childhood Experience

3:31 - How James and Ajay Met

6:13 - James and Ajay’s Relationship as Business Partners

7:10 - Bootstrapping the Business From the Start

9:25 - How Rinse Differentiates Itself From Others in the Market

13:46 - 2 Minute Pitch for Rinse

16:33 - Hardest Thing That James and Ajay Have Had to Overcome While Running Rinse

21:11 - Growth Strategy for Rinse Moving Forward

23:08 - ‘Covid Proofing’ Your Company in the Future

26:22 - Cow vs Buffalo

28:17 - What Ajay and James Are Most Proud Of

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