01:54:25 · John Nay, John Coogan, Hussein Fazal, Jordi Hays
[01:54:25] S6: to you soon. Christina. [01:54:26] S0: Let me tell you about Cisco. Critical infrastructure for the AI era unlocks seamless real time experiences and new value with Cisco. Our next guest is on an absolute tear. He's back on the show, Hussein Fazal from super.com. How are you doing? [01:54:45] S8: Good. Thanks for having me back. [01:54:46] S0: Show. Absolutely, incredible run. Give us the numbers. Give us the news. What happened? I wanna hit the gong. We might have to [01:54:55] S8: hit gong. Very settings. And we [01:54:57] S0: What'd say? [01:54:58] S8: We just raised our series d of 65,000,000 led by TPG at a dollar valuation. Much? [01:55:06] S1: What was the valuation? [01:55:08] S8: Yeah. 1,200,000,000. [01:55:10] S0: Here we go. We got we got some. We warmed up the gong, so now we can do the real hit. I just did the warm up hit. That's right. What is what is unlocking the growth? Sort of describe the current customer flow, the current product, and and how you're actually scaling revenue so quickly.
01:55:10 · John Coogan, Hussein Fazal, Alex Hormozi
[01:55:10] S0: Here we go. We got we got some. We warmed up the gong, so now we can do the real hit. I just did the warm up hit. That's right. What is what is unlocking the growth? Sort of describe the current customer flow, the current product, and and how you're actually scaling revenue so quickly. [01:55:27] S8: Yeah. So so the app is a savings super app. Yeah. So the vision is eventually, anytime you wanna buy anything, you're opening the app. Mhmm. And it's gonna be able to either get you the best price, get you the best cash back, redirect you to the right spot. So when the company started ten years ago, it just started with hotels. And it was all about saving 20 to 30% on hotels. Yeah. And, yeah, it's been ten years. Right? And we just added more ways to save. So you can open the app now. You can save on gas, on insurance, on pharma, on a whole bunch of stuff. We've added financial services. So you could go and swipe your card and get cash back and build your credit score. You can even, you know, take out a bit of cash via a cash advance if you need to make ends meet. So it really is evolving into this into this super app. [01:56:13] S3: Super app. [01:56:13] S8: Yeah. I say yeah. When I say super app, we're not we're not building determinism. Yeah. Wait. Wait. You're not building WeChat. [01:56:19] S0: You're not oh, you're not building WeChat.
01:56:19 · John Coogan, Hussein Fazal, Alex Hormozi
[01:56:19] S0: You're not oh, you're not building WeChat. [01:56:20] S8: You're gonna be you're not gonna be paying government bills. You're not gonna be chatting with your friends. So I call it a savings super app. So anytime you wanna save money, that's the app you should be open. So I'm kinda staying in that category. [01:56:30] S0: Okay. So so then where where are the bounds of the of the savings super app? Because I can imagine savings accounts, then bonds are a form of savings. Yeah. They they even car loan, like like bills. Consult yeah. How how how risk on can I be with my savings? Can I go levered long? [01:56:51] S8: So I so what what we're not doing is we're we're not turning into a bank. Right? So we're not gonna have savings accounts. We're not gonna have investment products. Okay. [01:56:58] S3: When I [01:56:59] S8: say savings super app, I mean, it's basically whenever whenever you're spending money [01:57:02] S0: Yep.
01:57:02 · John Coogan, Hussein Fazal, Jordi Hays
[01:57:02] S0: Yep. [01:57:03] S8: You could be saving by using the app. Right? So you're spending money in a hotel, you can open the app and you can save 30%. Right? You're doing your everyday shopping at any store while you could, you know, through a link similar to Rakuten, you could go and shop and you can get cash back. Or you're going to the grocery store, you can use your super.com Mastercard, and you can earn cash back. But the difference I would say is it it a lot of the products we built have been focused on what we call the everyday American. So under a 100 k household income. Right? So what you'll see is, you know, our card functions like a secure charge card. A lot of our customers can't get a traditional credit card that gives them, you know, high cash back, high rewards, but this lets them use the money they have, but still be able to earn 1% cash back. Mhmm. In the app, you'll see the ability to take out a cash advance. So if you're looking to make ends meet, typically, you know, you're going to a payday lender and you're paying really high interest rates, but we'll we'll let you take out kind of a no interest cash advance, and you can go and you can go and and take money to help you make ends meet. So a lot of the products we've built have been for that demographic, the everyday American. [01:58:13] S1: Got it. What's something that Super does operationally that you haven't heard of another company doing?
01:58:13 · Jordi Hays, Hussein Fazal, John Coogan
[01:58:13] S1: Got it. What's something that Super does operationally that you haven't heard of another company doing? [01:58:20] S8: Oh, that's a that's a really good question. What I I mean, I'd love to talk about AI because, you know, that's that's the theme of the day. I know you guys just got off a conversation about AI. I'll say, I think internally, we've moved faster or as fast as any other company when it comes to AI adoption. So I'll give you an example. Every once in a while when I open the app and I see a bug, which is pretty rare, but it does happen, I used to take weeks. So I would take a screenshot, I would submit it, you know, QA person would verify it, an engineer would prioritize it, an engineer would build it, it would then get deployed to staging, then deploy it to production. Now I can take a screenshot, I can share it into Slack, and an AI agent will pick it up, fix it and deploy it to production within minutes. So I think, you know, our ability to leverage AI to move fast, that's just one small example, but it's allowing us and enabling us to add more and more ways for our customers to save. We can just build products really fast, and find and build more ways for our customers to save faster than ever before. [01:59:24] S0: What's the what's the customer acquisition funnel like? I mean, you're partnering with NASCAR. How broad do you go to reach those everyday Americans? How much is direct direct to consumer advertising versus brand level advertising? What's the strategy?
01:59:24 · John Coogan, Hussein Fazal, Jordi Hays
[01:59:24] S0: What's the what's the customer acquisition funnel like? I mean, you're partnering with NASCAR. How broad do you go to reach those everyday Americans? How much is direct direct to consumer advertising versus brand level advertising? What's the strategy? [01:59:40] S8: Yeah. Really good question. So I would say still about 90% of our marketing spend is performance advertising. Now what I'll tell you is right now, we advertise specific products as opposed to the app as a whole, right? So, no consumer is like, Oh, yeah, the savings super app, I need that in my life. I'm gonna go download it right now, Right? Typically, what happens is they're looking for something in particular. So, they're looking for a hotel and they're like, oh, wow, super.com seems to have a great hotel deal. Right? Or they're looking to build their credit score for a cash advance. And they're like, oh, wow, this seems like a product that could be useful to me. And they come in via performance marketing for individual products, and that's how they get introduced. Once they come in, of course, we can then show them other things and other products they can do within the app. So, there's a 90% performance, about 10% brand. NASCAR has been great. So that is truly, you know, an everyday American [02:00:36] S1: Yeah. [02:00:37] S8: Type of sport. And and you know what? I've I've gone to a few races. I've spoken to customers directly, and it is a great spot for us to do brand marketing.