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Bo Jiang. He\\u2019s the co-founder and CEO of Privacy.com, a new way to transact online without showing your credit card number or pin. He previously worked on mobile products with Hatch Labs, which is the venture studio that incubated Tinder and Pixie TV, which was acquired by Samsung. He holds a BS in Mathematics in MIT.

Famous Five:

• Favorite Book? \\u2013 High Output Management and Who
• What CEO do you follow? \\u2013 Charlie Munger
• Favorite online tool? \\u2014 Zoom
• How many hours of sleep do you get?\\u2014 7
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 \\u201cPay attention and see things through\\u201d

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Time Stamped Show Notes:

• 01:34 \\u2013 Bo has always been interested with Bitcoin and Krypto frequency where the idea of Privacy came from
• 01:56 \\u2013 Privacy was a side project in Bitcoin
• 02:00 \\u2013 Bo didn\\u2019t pay anything for Privacy
  • 02:10 \\u2013 Bo retained the domain as an investment for the company
• 02:51 \\u2013 Bo shares how he made the deal of using the domain for free
  • 03:10 \\u2013 Domains are assets but the value won\\u2019t grow that much
  • 03:28 \\u2013 Bo gave the domain owner less than 10% of the company
• 03;40 \\u2013 Privacy has a browser extension and mobile app
  • 03:44 \\u2013 It allows you to create unique card number for every purchase you make online with just one click
  • 04:00 \\u2013 You can use any name or details and set your own credit limit
  • 04:20 \\u2013 It\\u2019s actually a debit card which can be linked to your checking account
• 04:30 \\u2013 Currently, there\\u2019s nothing that is completely unhackable
  • 04:42 \\u2013 Privacy takes the best practices and security measures to ensure the client\\u2019s security
  • 05:25 \\u2013 The cards from Privacy can\\u2019t be use anywhere else
• 05:38 \\u2013 Privacy makes money from interchange
  • 05:43 \\u2013 Every time that there\\u2019s a transaction using a card, the merchant pays Visa, Visa shares the fee with the bank, and the bank shares the fee with Privacy
• 05:56 \\u2013 If Nathan uses $100 on an Amazon checkout, Privacy will get around 1%
• 06:51 \\u2013 Privacy has raised $3.5M
• 06:59 \\u2013 Transaction volume is how Privacy\\u2019s revenue grow
• 07:10 \\u2013 Privacy is more focused on how much people have saved from using them
• 08:06 \\u2013 Privacy was founded in 2014 and was launched as a beta first, a year ago
• 08:30 \\u2013 Privacy currently has 150K users
• 09:15 \\u2013 Privacy is growing in double digits, month over month in transaction volume
  • 09:23 \\u2013 Privacy has already broken a million transactions in just a month
• 09:50 \\u2013 Team size is 10 based in New York City with some in Florida and Oregon
• 10:16 \\u2013 Bo is still thinking of Privacy having a premium feature
• 10:31 \\u2013 Average MRR is around $10K
• 10:57 \\u2013 Bo was inside of Hatch Labs
  • 11:20 \\u2013 Bo thinks that Tinder work because it was the right product at the right time
  • 11:55 \\u2013 Hatch Labs was a venture studio and had 10-20 projects at a time
• 12:41 \\u2013 What IC puts in every project in Hatch Labs depends on the project
• 13:06 \\u2013 Bo left Hatch Labs a year and a half ago
• 15:14 \\u2013 The Famous Five

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3 Key Points:

1. While online shopping is becoming more of a necessity, online security can still be questionable so having an alternative to paying with a credit card is something people are looking for.
2. Focus on your company\\u2019s mission and the rest will follow.
3. Don\\u2019t overestimate or underestimate things \\u2013 see through them.

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Resources Mentioned:

• The Top Inbox \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
• Klipfolio \\u2013 Track your business performance across all departments for FREE
• Hotjar \\u2013 Nathan uses Hotjar to track what you\\u2019re 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 \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books

Show Notes provided by Mallard Creatives