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The Top Entrepreneurs in Money, Marketing, Business and Life

Listen to The Top if you want to hear from the worlds TOP entrepreneurs on how much they sold last month, how they are selling it, and what they are selling - 7 days a week in 20 minute interviews! The Top is FOR YOU IF you are: A STUDENT who wants to become the CEO of a $10m company in under 24 months (episode #4) STUCK in the CORPORATE grind and looking to create a $10k/mo side business so you can quit (episode #7) An influencer or BLOGGER who wants to make $27k/mo in monthly RECURRING revenue to have the life you want and full CONTROL (episode #1) The Software as a Service (SaaS) entrepreneur who wants to grow to a $100m+ valuation (episode #14). Your host, Nathan Latka is a 25 year old software entrepreneur who has driven over $4.5 million in revenue and built a 25 person team as he dropped out of school, raised $2.5million from a Forbes Billionaire, and attracted over 10,000 paying customers from 160+ different countries. Oprah gets 60 minutes or more to make her guests comfortable to then ask tough questions. Nathan does it all in less than 15 minutes in this daily podcast that's like an audio version of Pat Flynn's monthly income report. Join the Top Tribe at NathanLatka.com/TheTop
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Jul 26, 2017

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:

  1. It’s a relief to know that verifying your identification can be easily done.
  2. Pricing value affects different markets greatly.
  3. 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

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