• Tom Szaky, a Princeton freshman founded Teracycle in hope of starting an eco-capitalist company
• Moved into partnering with companies who would sponsor the collection of waste associated
• $16 million revenue a year
• Tom was born in Budapest, Hungary
• At Princeton Tom met Jon Beyer
• Tom visited his friends in Montreal and was amazed to find the plants flourishing, by worm poop
• He would use worms to produce fertilizer
• US consumers spent a total of $37.7 billion dollars on their lawns and gardens in 2001
• 60% of Americans bought some kinds of fertilizer or pant food every year
• Negative cost because they would be paid to haul away the garbage the worms would eat
• Putting the worms on a conveyor belt that would slowly turn away from the center of the device where the organic waste would be poured
• No real direct competition
• Competition competitors were landfills and composting sites
• 100 page business plan
• Fourth place in competiton
• Reached $20,00 for idea
• Used all money on idea and not them
• Sleeping on floor of their friends dorms
• Cutting their losses and giving up on the worm project so they would sell the worm gin and use the proceeds to help pay back some of the loans they had received from family and friends
• Investor gave them $2,000
• Investment from Hilary Burt for $6,000
• A lot of Princeton students who attended the parties also offered to volunteer
• Robin Tator joined the company
• Biggest challenge was figuring out what business they were in
• Spray Fertilizer
• Introduced TerreaCycyle to the EcoComples at Rutgers University
• Won the New York City Competition
• TerraCycle Plant Food
• Saw a big opportunity in the fast growing organic Fertilizer and plant food market
• Fastest selling Fertilizer on HomeDepot.com
• 35 employees in 2004
• Big Pitch with Walmart
• Adminster a drink pouch brigade and seth offered
• By spring of 2007 the number of Brigades had grown from 1,500 to 4,000
• Walgreens ordered 10 million pouches