A Hyderabad-based CEO has disputed an investor’s advice about building companies to solve problems rather than to get rich. Jitendra Emmani, the co-founder and CEO of Cozy Farms, is of the opinion that it is perfectly acceptable to build companies with the sole purpose of making money.
Jitendra Emmani is the CEO of Hyderabad-based real estate company Cozy Farms.
Money vs passion
Emmani’s advice on building for wealth vs passion comes from personal experience. In a post shared on the social media platform X, the CEO of Cozy Farms explained that he built his first company, called Picxy, to solve a problem he cared deeply about.
Emmani was studying at the Northern Illinois University in the US and working on a media portal highlighting stories from South India when he noticed a lack of stock images representing India, according to YourStory. He started Picxy with the aim of filling this gap.
Picxy provides stock images for Indian businesses, but the idea never really took off.
“Started my first company to solve a problem I deeply cared about. A stock photo company for India. Worked 6 years pretty hard and it didn’t take off beyond a point,” Emmani said on X.
He then started Cozy Farms with the aim of making money. In one year, Cozy Farms has made more in revenue than Picxy did in six years.
“Build for money”
Emmani got candid about money matters in his X post, made in response to investor Aviral Bhatnagar.
Bhatnagar had advised people not to launch companies if they are driven by the aim of making money or calling themselves CEOs — “Only do it if you’re crazy enough to do whatever it takes to solve a problem you deeply care about,” he said.
Hyderabad-based Jitendra Emmani refuted that take. “Started my second company to make money and be happy with the work I do.
“Year 1 revenue of Cozy Farms >> 6 years cumulative revenue of Picxy which is my first company,” he revealed.
“Stop listening to the gyan. Build for money, it’s totally fine,” Emmani added, advising people to first get rich and then put the money to good use.
Many applauded Emmani in the comments section for staying honest.
“Great to see such a turnaround. I can relate with founder pain and 6 years of no concrete results. Realising what’s working and what’s not is really important,” wrote X user Vikas.
“Obviously business is supposed to be for making money, even most of the big NGOs are running a profitable business. In fact if one is not practical enough to be driven by money they shouldn’t think of starting the business,” added Harsh Patel.
