Ankit Garg – From Unemployed To Creating An Rs.500 Crore Company

Who is Ankit Garg?

Ankit Garg co-founder as well as CEO of Wake fit. In the beginning, it emerges as a memory foam mattress firm and was renovated into an online sleep company that includes mattresses, bed frames, pillows, and many more. He is also an investor.

Educational Qualification

He was a young boy with a keen interest in computers. Ankit Garg was curious about theoretical computer science, specifically in algebraic complexity, communication complexity as well as continuous optimization. Garg pursued B-Tech in computer science from IIT Delhi. He excelled in his P.H.D in computer science from Princeton University where he was fortunate to be advised by Mark Braverman.

A Step Towards Successful Career

After getting graduate his first job was at IIT Roorkee as a Chemical Engineer. He first served as a Salesman. He had served at Management Trainee Bayer Material Science. Mr. Ankit always had a desire to start up something of his own.  In starting he underwent many failures it took him a lot of time to understand that failure is part as well as parcel of entrepreneurship.

He first served as a salesman for an MNC thus he left the job to start his start-up, he spent his months researching to develop a differentiated way of making bed mattresses for the automotive industry he inaugurated his product and finally received funding to set up the factory. But it doesn’t go so well.

He released that the reason behind the downfall was that he was selling products at 160 per kg with profits. He states that “In the first month, we were at Rs. 10 lakh and then Rs 20 lakh then to Rs. 25 lakhs then the big MNC came in as well as they were also making same strategies but at very large scale. Due to all this, the venture ended within six months.

Depression Move Towards Successful Venture

This incident pushed him into depression. Then he went to Mumbai as well as started selling pasta on the roadside but still, he kept working at a start-up. Later in 2014 – 2015, he was for a job he went to a showroom even to purchase a mattress. He knew the mattress which was of Rs.2000 learned that the bed was sold for Rs.10000. He again decided to work on mattresses as a piece. 

Again, he started working on the idea of selling mattresses in December 2014 as well as he was doing his job. After a year of hard efforts as well as research, now he determinately to accumulate funds, and Wake fit launched in 216 as well as emerged as one of the most popular D2C brands in India. They achieved growth of 2X in one year clinching the revenue of Rs. 410 crore revenue. Wake fit factory manufacture is carried out in Bengaluru, Jodhpur, and Delhi.  Even it has been recognized online as it provides services to Amazon as well as other websites too.

Nowadays, the brand has emerged as one of the best online sleep companies. The company aims at maximizing to earn revenue of INR 1000 crore by FY23. He is worked as a software & technologies professional manager: HR recruiter as well as a sales marketing manager. He too grouped into the Life Science Executive Exchange.

Awards And Recognitions.

He has won the BW Business-world Young Entrepreneur Award 2021. The company won the best campaign in consumer Health and fitness for the sleep internship campaign. They won Red Herring Asia Award.

Wake fit won the ‘Start-up of the year – Home as well as lifestyle’ award in India, as well as Amazon, Aces the Gold as Bestsellers in 2019. They too won the best customer Service Award in 2019. They were listed for Nominated for SABRE awards for the innovative ‘one India one Wake fit’ campaign.

Net Worth

The valuation of the company is $380mn. The total funding of the company is $ 62.22mn. The company achieved a turnover of $ 56.02mn (which was 416 crore in FY21).

Entrepreneurial Advice

He advised that to take the initiative and to jump in if you have the entrepreneurial bug and not to get stuck into analysis, paralysis, and mathematics because one cannot figure out business plans on a spreadsheet, as well as the innovation, is necessary and one must continue to innovate.

The Success Story of Mr. Ankit Garg makes the biggest impact on people’s life.

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