Cambrian Fintech with Rex Salisbury
Building Deel with Founder, Shuo Wang
Apr 28, 2023
Shuo Wang, Founder of Deel, discusses the success and growth of Deel, an all-in-one HR platform for global teams. The interview covers their journey from friends at MIT to building Deel, their focus on compliance and international payments for remote workers, substantial revenue growth, emerging trends in remote work, and challenges and opportunities in global operations and international treasury.
23:56
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Quick takeaways
- Deel has experienced significant growth, with revenue skyrocketing from around $60 million to $300 million in just 12 months, indicating the increasing demand for their international payment platform in the era of remote work.
- Deel's success can be attributed to their emphasis on speed, executing quickly and delivering fast, which has allowed them to adapt their strategies, develop new products, and scale their sales organization to cater to the needs of larger enterprises.
Deep dives
The Growth of DEAL: From YC to Scaling Impressive Revenue
DEAL, the all-in-one HR platform for global teams, has experienced significant growth, expanding from a small team to one of the fastest-growing companies in the history of A16Z. With the rise of remote work as a trend and then accelerated by the pandemic, DEAL's services, which allow companies to pay people around the world in a compliant manner, have become not just a nice-to-have, but a necessity. Their revenue has skyrocketed from around $60 million to $300 million in just 12 months, and they have paid out over $5 billion to individuals worldwide.
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