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User:ContentCreative/Rubicon Global

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Rubicon Global
Company typePrivate
IndustryWaste Management
Recycling
Founded2008; 16 years ago (2008)
FoundersNate Morris, Marc Spiegel, Hank Dudgeon, Lane Moore
Area served
Worldwide
Key people
Nate Morris, CEO
Websiterubiconglobal.com

Rubicon Global is a cloud-based, full-service waste and recycling company focused on sustainability. It works with customers to find inefficiencies and cost-savings in their waste stream and to develop new and innovative ways to reduce, re-use and recycle waste.

Rubicon has developed a mobile application to provide on-demand trash pickup. The company has been compared to tech startups like Uber and Airbnb.[1]

History

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Rubicon was founded in Kentucky in 2008 by Nate Morris and Marc Spiegel who were friends from Eastern High School in Louisville.[2] Spiegel’s family had been in the garbage hauling trade for more than a century; his knowledge piqued Morris’s interest in starting a company that could disrupt the waste industry. Morris put $10,000 on personal credit cards to fund initial expenses, like a website and basic legal work.[3] Shortly thereafter, Hank Dudgeon joined as a co-founder.

Funding

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In 2010, Rubicon received early seed money from QuarterMoore, an Atlanta-based private investment firm. QuarterMoore principal Lane Moore joined Rubicon as a co-founder.[4]

In the summer of 2012, Rubicon received $5 million in its first financing round. Investors included Rotunda Capital Partners, Richmond Global and C.M. “Bill” Gatton.[5]


In January 2015, Rubicon raised $30 million in a second round of financing. Investors included Auren Hoffman, Barry Sternlicht, Brad M. Kelley, Chris T. Sullivan, Bruce Lunsford, Marc Benioff and Fifth Third Bank.[6]

In September 2015, Rubicon raised $50 million in a third round of financing. The round was led by Nima Capital. Investors included Leonardo DiCaprio, Henry Kravis, Paul Tudor Jones, Goldman Sachs and Wellington Management.[7] The company’s post-money valuation climbed to $500 million.

Corporate information

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Rubicon has offices in Atlanta, Lexington, Ky., New York and San Francisco.[8]

Business model

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Rubicon aims to cut costs for customers by working with suppliers to reduce inefficiencies and maximize the amount of waste being diverted from landfills.[9] Customers include 7-Eleven and Wegman’s.[10]

Rubicon is a cloud-based company. It created and maintains its own software platform that analyzes its customers’ waste stream and makes sense of all the data on haulers, clients, and recycling possibilities.[11]

Sharing Economy

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In 2015, Rubicon launched an app that provides on-demand trash pickup.[12]

Rubicon has been called the “Uber for trash.”[13][14] Key Rubicon advisors and employees with Uber connections include Oscar Salazar, David Plouffe and Brent Callinicos.

Small Business Empowerment

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Rubicon has focused on small business empowerment. The company is partnered with the National Federation of Independent Business to promote and expand their independent vendor network.[15]

Impact

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Zero Waste

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Rubicon CEO Nate Morris has said that the company's goal is to move all of their "material into something more sustainable than a landfill by 2022."[16] Rubicon is a member of the U.S. Zero Waste Business Council.[17]

B Corporation

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Rubicon is a certified B Corporation.[18]

In 2013, Rubicon worked with companies including Warby Parker and Prudential Financial to pass a law in Delaware recognizing Public Benefit Corporations.[19]

See also

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Harvard Business School Case Study on Rubicon Global, by William A. Sahlman and Hunter Ashmore http://www.hbs.edu/faculty/Pages/item.aspx?num=50206

References

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  1. ^ Lapowsky, Issie (1 Jan 2015). "A Startup Just Got $30 Million to Shakeup the Garbage Industry". Wired. Retrieved 22 Dec 2015.
  2. ^ Zax, David (25 Oct 2014). "Dividing and Conquering the Trash". New York Times. Retrieved 21 Dec 2015.
  3. ^ McCullough, Mike; D’Angelo, Caroline (13 Aug 2012). "Investing in Disruptive Sustainability". Wharton Magazine. Retrieved 21 Dec 2015.
  4. ^ "QuarterMoore Capital Provides Growth Capital and Strategic Support for Rubicon Global". Wharton Magazine. 10 Feb 2010. Retrieved 21 Dec 2015.
  5. ^ "July 30, 2012 - Funding Round Venture". Crunchbase. Retrieved 21 Dec 2015.
  6. ^ "Lexington-based Rubicon Global raises $30M in latest round of financing". Lexington Herald-Leader. 16 Jan 2015. Retrieved 21 Dec 2015.
  7. ^ Kolodny, Lora (17 Sep 2015). "Rubicon Global Picks Up $50M for On-Demand Trash Removal". Wall Street Journal. Retrieved 21 Dec 2015.
  8. ^ Connect with Rubicon Global
  9. ^ "The Elimination of Garbage". Knowledge@Wharton. 6 March 2014. Retrieved 22 Dec 2015.
  10. ^ Lapowsky, Issie (1 Jan 2015). "A Startup Just Got $30 Million to Shakeup the Garbage Industry". Wired. Retrieved 22 Dec 2015.
  11. ^ Lapowsky, Issie (1 Jan 2015). "A Startup Just Got $30 Million to Shakeup the Garbage Industry". Wired. Retrieved 22 Dec 2015.
  12. ^ Fehrenbacher, Katie (6 Jul 2015). "Coming soon: An Uber for trash". Fortune. Retrieved 21 Dec 2015.
  13. ^ Strauss, Daniel (18 Aug 2015). "David Plouffe joins board of the 'Uber for trash'". Politico. Retrieved 21 Dec 2015.
  14. ^ Fehrenbacher, Katie (6 Jul 2015). "Coming soon: An Uber for trash". Fortune. Retrieved 21 Dec 2015.
  15. ^ "Rubicon Global - Small Business Empowerment".
  16. ^ "The Elimination of Garbage". Knowledge@Wharton. 6 March 2014. Retrieved 22 Dec 2015.
  17. ^ "Members of the U.S. Zero Waste Business Council". Retrieved 22 Dec 2015.
  18. ^ "B Corp Community - Rubicon Global". Retrieved 21 Dec 2015.
  19. ^ Menin, Sophie (29 April 2013). "Benefit-Corporations on the Rise". Barron's. Retrieved 21 Dec 2015.
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