Checkr CEO Daniel Yanisse explains the strategic rationale behind Checkr's acquisition of Truework.
Opinion
Yanisse: Tech IPOs now require over $1 billion in revenue
“The roads to IPO is longer than ever. The bar is higher than ever. I mean, the IPO window just got shut again. And even before that, you know, experts and friends and people are saying like, Hey, even five hundred million dollars in revenue, it's not It's not …”
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Yanisse targets a $50B+ verification and identity TAM
“So we're going after over a fifty billion dollar team on, on different types of verifications and identity products. Which I could start it in the 14 plus billion dollar employment markets. Ryan and Tim they've been going after financial underwriting property …”
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Yanisse: AI will make photo ID verification incredibly challenging
“We're not focusing on taking pictures of driver licenses. I think that's going to become very challenging over time.”
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Yanisse: In-person verification will return as AI fakes online identities
“I think on, on, on identity, I think we're laughing about it, but I think in, in person is going to become important when you want to want to have the best assurance because online will be able to be faked so much easier and cheaper. So I think there's going t…”
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Yanisse: Mobile Driver's Licenses in Digital Wallets Will Replace Photo Scanning
“The other thing that I'm bullish on is electronic driver licenses and wallets, you know, like Apple and Google are starting to have your driver license in your wallet, like Apple pay. And I think you know, and the government, especially in Europe and other cou…”
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Yanisse: AI and automation reduced verification costs from tens of dollars to pennies
“The verifications Ryan and I were doing, they used to cost tens of dollars because a lot of human labor with AI and automation, we can now automate its end to ends and bring it to pennies in terms of cost.”