Business at Tushy is booming.While the circumstances that led to the boom are sobering, the bidet company needed to adapt its strategy after seeing an uptick in business amid the COVID-19 pandemic.
Other companies in this cohort include video conferencing service Zoom, meal kit service Blue Apron and Facebook, thanks to its social network, video hardware Portal and Oculus Quest VR headset.
These companies all have something in common they offer solutions to problems that, until recently, were not all that urgent.Founded in 2015 by Thinx founder Miki Agrawal, Tushy aims to replace toilet paper, CEO Jason Ojalvo tells A Technology News Room.
Ojalvo, who joined the company as CEO in 2018, says North America has been a holdout when it comes to bidets.
As a result, the nation flushes about 15 million trees down the toilet every year.Tushy, which has raised $2.9 million since its founding, has been profitable for the last two years.
Thats in part thanks to the companys focus on sustainability not just from an environmental standpoint, but from a business one, Ojalvo says.
That means not over-hiring or spending too much on marketing.Were really careful about doing it in a way so we wont explode like some other direct-to-consumer companies can do when they raise too much money and they over-hire and then they have to let people go, Ojalvo says.
Thats just a debacle that Ive seen first hand and I dont want to be part of it.
Not only do I not want to be part of it but I dont want to be the leader of the company that does that.Prior to the coronavirus pandemic, Tushy saw its growth double year-over-year.
Ojalvo says thats partly been a result of having customers who evangelize on their behalf.
Fast-forward to around March 9, when sales really started to double beyond the norm; a few days later, Tushy was having days where it brought in $500,000 in sales.