Wesley Chan Managing Director Felicis Ventures TPM 2017 Long Beach, CA FELICIS PROPRIETARY INFORMATION
Wesley Chan – Brief Biography • Managing Director at Felicis Ventures • Special interest in logistics (e.g., investments in Flexport, Zipline) through investing in hardware (e.g., Fitbit, Luma, Ring) • Previously a General Partner at Google Ventures • Founded and launched Google Analytics and Google Voice which have hundreds of millions of users worldwide • Awarded 16 US Patents for building Google’s early advertising system • Master’s in Computer Science, MIT Bachelor’s in Electrical Engineering, MIT 1 FELICIS PROPRIETARY INFORMATION
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But those are mostly software companies … ? Why logistics? 1. HUGE market 2. Significant network effects 3. Almost untouched by the web FELICIS PROPRIETARY INFORMATION
1) Huge Market – $9 Trillion Industry Global $9T Logistics Industry Spend FELICIS PROPRIETARY INFORMATION
1) Huge Market – Trade has contributed to significant global GDP growth Trade (as % of GDP) % 2015 Source: The World Bank, 2015 FELICIS PROPRIETARY INFORMATION
2) Significant network effects lead to massive customer adoption Example FELICIS PROPRIETARY INFORMATION
2) Significant network effects lead to massive customer adoption Example Thought: What if we did this with partners in a supply chain? FELICIS PROPRIETARY INFORMATION
3) Barriers to Digitization Why hasn ’ t the internet fundamentally disrupted the global freight and logistics industry? 8 FELICIS PROPRIETARY INFORMATION
3) Barriers to Digitization Expertise Scale • • Customer Service Access to the • Complexity Network of Assets • • Compliance Purchasing Power • • Culture Price FELICIS PROPRIETARY INFORMATION
3) Barriers to Digitization User Expertise Scale Experience • • • Customer Service Access to the Technology • • Complexity Network of Assets Structured Data • • Compliance Purchasing Power • • Culture Price FELICIS PROPRIETARY INFORMATION
The Big Bet We’re Making Felicis Ventures’ Big Bet: The new entrants we back will become logistics companies faster than legacy logistics companies can become software companies. 11 FELICIS PROPRIETARY INFORMATION
Q & A Wesley Chan @weschan FELICIS PROPRIETARY INFORMATION
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