SaaS Interviews with CEOs, Startups, Founders 732: Why AirBnB Is Using Jumio Along With Many Other Unicorns
Jul 26, 2017
21:46
Stephen Stuut. He's the CEO of Jumio.com. He brings more than 25 years of experience fueling corporate growth and leading technology businesses. Before Jumio, he served as a CEO of TruePosition, a leader in location-based service technology. Prior to that, he was a president and CEO of Broadband Innovations delivering digital interactivity services to cable TV providers. During his 10 years, he has raised over $30M in equity from venture capital firms and strategic investors and ultimately sold the company to Motorola in December of 2005.
Famous Five:
- Favorite Book? – A Book from McKinsey
- What CEO do you follow? – John Mallone and Greg Maffei
- Favorite online tool? — Outlook
- How many hours of sleep do you get?— 8
- If you could let your 20-year old self, know one thing, what would it be? – "Travel just a little bit less when your kids are young"
Time Stamped Show Notes:
- 01:28 – Nathan introduces Stephen to the show
- 02:10 – Jumio is a SaaS business, particularly, trusted identity as a service
- 02:18 – Jumio does identity verification and document verification
- 02:35 – Jumio will validate the ID, making sure it isn't fraudulent
- 02:40 – Jumio does biometric facial comparisons from the selfie picture and ID picture for identity verification
- 03:11 – Jumio's customers are merchants who need to know the identity of a person
- 03:19 – Airbnb is one of Jumio's customers
- 03:29 – Jumio caters to airlines, bitcoin companies and banks that have money-laundering requirements
- 04:13 – "The world is moving to the internet online clamors"
- 04:17 – Walking into a building and flashing your ID is quite inconvenient
- 04:58 – Some, like Nathan, don't bother to change their license ID even if it's unrecognizable
- 05:35 – Customers typically pay 1 year worth of transactions in advance
- 05:49 – Average contract price
- 07:17 – Stephen isn't the founder but is a CEO who came in later
- 07:23 – The founder started Jumio after he argued with a credit card about his identification
- 08:15 – Jumio was founded in 2014 and Stephen came in 2 years after they launched
- 08:32 – Stephen was brought in by the investors
- 08:48 – Jumio has raised $60M to date
- 09:14 – Jumio just broke in 150K identity verifications in a single day
- 10:02 – The investors of Jumio
- 10:48 – Jumio has processed 26M verifications in 2016
- 10:55 – 2017 verification number
- 11:21 – The team in 2015 was around 90 and now it's around 110 in the west and a thousand in India
- 12:01 – Jumio is a hybrid blend of computer vision, facial recognition and human integration into one
- 12:27 – Stephen is an optical engineer and has designed laser weapons
- 13:14 – Jumio is well-known in the fintech and economy space
- 13:25 – Jumio has a sales force direct with a team of around 20
- 13:50 – Jumio does trade shows in the marketplace
- 14:28 – Jumio has the top 4 unicorns as customers
- 15:34 – Different markets have different value that they see from the pricing activity
- 16:51 – "This is very much a grab the market share and its transactions"
- 17:40 – The Famous Five
3 Key Points:
- It's a relief to know that verifying your identification can be easily done.
- Pricing value affects different markets greatly.
- Spend more time with your kids while they're young.
Resources Mentioned:
- The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
- Klipfolio – Track your business performance across all departments for FREE
- Hotjar – Nathan uses Hotjar to track what you're doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
- Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
- Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible
- Audible– Nathan uses Audible when he's driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives