Jason Stauffer was still early His career at the venture capital firm Maveron in 2012 When he declined an opportunity to invest remitly, Then a fledgling Seattle startup with the ambition to challenge Western Union by bringing a tech mindset to the business of international money transfers.
He was influenced by Remitly’s co-founders Matt Oppenheimer and Josh Hugh, but knew he faced a major challenge in obtaining state-by-state regulatory approvals, which was his initial international market, monetary in the Philippines. required to be dispatched.
“It felt like the end vision was powerful—if they could get there,” Stauffer recalled. “But with two people in a room in Seattle saying they were going to navigate an incredibly complex regulatory environment and figuring out how to market a continent in one country, it felt like climbing. There’s a huge hill to do. And they proved me wrong.”
Ten years later, Remitly is ready to go public in an initial public offering The company which is valued at $6.5 billion, As we reported this week.
Stauffer, whose successful exits as an investor include Flywire, Course Hero, General Assembly and Julie, Remitly’s financial position analyzed Recently on my new blog, to ring the bell, displaying an admirable humility in its valuation of a company that could have been part of the Maveron portfolio.
He joins my colleague John Cook and me on the GeekWire podcast to talk more about Remitly, lessons learned, the current market for tech investing, and his approach to reading the S-1 regulatory filing.
In the last section, we discuss Amazon CEO Andy Jesse. First television appearance since founder Jeff Bezos took over the top role. Stauffer is an investor cap hill brands, an aggregator of third-party Amazon sellers.
Listen to the episodes above, or subscribe to GeekWire in any podcast app.
audio editing and production by Kurt Milton; Theme music by Danielle LK Caldwell.