Today’s episode is the first in a series of three on Asurion, the world’s leading tech care company with more than 300 million customers. In an interview with Co-Founder and Chairman Kevin Taweel, we explore Asurion’s scrappy origins in roadside assistance, acquisitive entry into handset insurance, contentious capital allocation decisions, and much more.
50X is a podcast that dissects the anatomy of extraordinary long-term investments. The show is hosted by Will Thorndike and the team at Compounding Labs, and brought to you in partnership with Colossus.
In each episode of 50X, we look in detail at an investment that has appreciated at least 50-fold. From the seat of the professional investor and occasionally the CEO, we explore its origins, evolution, and eventual outcome, studying key themes around long-term value creation ranging from operations, capital allocation, and culture to pivotal buy and sell decisions. To enhance the quality and depth of our interviews, we rigorously study each asset in advance, diving into all available public and private resources.
Learn more and dive into our research at 50xpodcast.com
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
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This episode is brought to you by Ramp. Ramp’s mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus.
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This episode is brought to you by System Six, a searcher-owned outsourced bookkeeping and accounting services firm that has been a great partner to us at Compounding Labs.
With the right modern tools and a strong team, System Six will eliminate headaches for you and give you time back so you can focus on growing your business. Whether you're a CEO or CFO stuck in the weeds, or an investor trying to support your CEOs and portfolio companies, reach out to hello@systemsix.com and mention the podcast for your first month of ongoing bookkeeping free.
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50X is a property of Colossus, LLC. For more episodes of 50X, visit joincolossus.com/episodes.
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Follow us on Twitter: @50Xpodcast | @joincolossus
Show Notes
(00:00:00) Welcome to 50X
(00:01:19) Sponsorship: Ramp
(00:02:36) Sponsorship: System Six
(00:03:44) Introduction to Kevin and Asurion
(00:05:15) Kevin’s Background Pre-Asurion
(00:12:51) Origin of Kevin’s Search Fund
(00:19:11) Acquiring Road Rescue
(00:27:23) Operating Road Rescue
(00:38:41) Early Success: Hold or Sell — a Critical Early Decision?
(00:44:11) Entry into Handset Insurance: Acquiring the Merrimac Group
(00:51:51) Vertical Integration
(00:57:51) Capital Allocation in the Search Fund Period
(01:01:51) TA Investment
