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

732: Why AirBnB Is Using Jumio Along With Many Other Unicorns

SaaS Interviews with CEOs, Startups, Founders