Young Social Impact Heroes: Why and How RJ Jain of Price.com Is Helping To Change Our World
The three things to do are: 1. Try buying used and refurbished products first — the macroeconomics are powerful. 2. Spread the word about sustainable shopping. 3. Share Price.com with your friends.
As part of my series about young people who are making an important social impact”, I had the pleasure of interviewing RJ Jain.
RJ Jain is the Founder and CEO of Price.com. Prior to Price, RJ co-founded Appurify, which pioneered on-device debugging, CI testing and performance optimization for mobile applications. Google acquired Appurify in 2014, and now Google Test Labs is powered by Appurify’s technology. Jain previously served as an Entrepreneur in Residence at Foundation Capital and as a technical advisor for Metamorphic Ventures, a New York City based venture capital firm. Additionally, he has held engineering leadership roles at the ride-sharing startup Sidecar and the gaming company Zynga.
Can you share the most interesting story that happened to you since you began leading your company or organization?
I didn’t have the Price.com domain when I started the company, but I really wanted to call it Price. We got it along the course of the journey, probably 6 months into the work. Keep a stern focus on your goals, and the rewards shall come.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
In my first meeting with an investor, I forgot my laptop charger, and my computer wouldn’t turn on, so I had to give the presentation on my phone. Lesson learned is always keep my laptop charging so it’s ready when I run off to a meeting offsite.
Can you describe how you or your organization is making a significant social impact?
We make it easy for Price.com customers to compare new products to used, refurbished and rental, thereby supporting more sustainable shopping. We recognize products using visual recognition and barcode scanning making it easier to shop. We also provided the in-stock availability for essentials items for Covid-19, during the time when it was very challenging for people to find the items they needed online as even Amazon was out of stock for almost all essentials.
Can you tell us a story about a particular individual who was impacted or helped by your cause?
A few neighbors of mine, and friends on Facebook, reached out to me expressing thanks for making it easier to find essentials for Covid-19 in stock.
We also partnered with Goodwill Foundation to offer more sustainable (used, donated) choices, and they have seen an increase in their sales. This supports a company with a great cause that provides jobs to disabled people in America.
Also, I’m an Executive Producer on an amazing new documentary you can catch on Netflix called “Kiss the Ground.” Working with that team has been a delight. Knowing that people watch that film and are filled with hope during this time when we all need hope is powerful. The film shows an easily executable strategy to reduce global warming. I’m a big fan of solutions, especially those that help the planet.
Are there three things the community/society/politicians can do to help you address the root of the problem you are trying to solve?
The three things to do are: 1. Try buying used and refurbished products first — the macroeconomics are powerful. 2. Spread the word about sustainable shopping. 3. Share Price.com with your friends.
How do you define “Leadership?” Can you explain what you mean or give an example?
Leadership is to lead by example. For instance, I work hard, and hope this inspires people within my company to follow suit.
What are your “5 things I wish someone told me when I first started” and why? Please share a story or example for each.
Wow there are like 20 things, but my top 5 are:
- Only hire the best of the best.
- Keep the product in stealth until you find the product market fit.
- Never slow down the process of building and then perfecting your product.
- Keep the brand promise very clear, short and easy to understand.
- Never run out of money. If you know the full potential, keep raising capital.
You are a person of enormous influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)
The movement I would like to inspire is for people to keep in mind that there are already a billion things out there in the world that could be gently used, or refurbished, and just as good as new. So rather than creating more waste and harming the environment, make a simple choice to buy something second hand that supports sustainable shopping and local businesses as well. Buying secondhand helps both the planet and your pocketbook, so it’s a win-win for all.
