Green startups are tricky. They are often primarily driven by good and noble intentions about saving the environment–and that often sounds like a non-profit model to customers and VCs.
But there is one green company that has come up with a winning business model that has attracted heavyweight investors like Coca-Cola, Al Gore’s Generation IM, and Sigma, says RRE Ventures Stuart Ellman, who is backing the company.
RecycleBank has a simple model – it pays people money to recycle. And we are not talking about cents. Households signed up with the company get about $40-$50 a month (depending on how much they recycle) for doing the right thing.
“Everybody wants to be green. Everybody wants to do the right thing, but it’s amazing how many more people do it when you get paid,” say Ellman.
• Our Exclusive Interview with RecycleBank CEO Ron Gonen >
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Produced By: Kamelia Angelova & William Wei
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