Breakout Startups #22- Fast
The company killing passwords on the Internet
“If you join a company, my general advice is to join a company on a breakout trajectory.” — Sam Altman, President at Y Combinator
In this 22nd Edition of Breakout Startups, we are profiling Fast, the company creating some real noise.
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What is a Breakout Job?
We, at Xpo Network, define a Breakout Job is that one role that puts you on the map. The best examples that hit my mind are Andrew Chen heading Growth at Uber, Erik Torenberg leading Community at Product Hunt.
What is Fast?
Fast is building the button for the world’s fastest login and checkout experience for the Internet. This can be easily added to any website for secure one-click login for all users.
The product supports 100% of users, authenticating through email, and doesn’t require users to have a Fast account.
If you want to have a demo of how the product works, here’s a good explainer from the website👇
Product
Fast currently enables a Stripe like integration for websites to enable one-click login and sign up for websites. The product has already integrated with a bunch of websites.
Along with this, the company is planning to enable Fast Pay which will enable users to pay with just a tap on any site, even on the first visit.
A Product like Fast is very beneficial to businesses as it can help them in increasing sales on conversions along with increasing the ease of the use for the users.
Currently, Fast is available to install on any of the 33M+ websites running on any of these platforms.
Investors
Fast has raised a total of $2.5M in a Seed Round led by Jon Hammer(Investor in companies such as Robinhood, Collibra, TransferWise & others) of Index Ventures where other marquee ventures such as Kleiner Perkins, Global Founders Capital, Susa Ventures also participated.
Team
Domm Holland- Founder & CEO of Fast, Prominent figure in Australian Startup Ecosystem, Previously; Built an award-winning technology platform and business which dealt with more than $50M in transactions.
Allison Barr Allen- COO of Fast, Previously; Global Leadership Team at Uber.
Jon Amadei- Product at Fast, Previously; Square, Wish.
Market Landscape
Fast is solving a big pain point for both users and businesses which is having different usernames and passwords for every site they visit. Facebook and Google solve it through their OAuth Tool but they acquire all the user data in the lieu of doing this.
This is one essential factor that plays well for a product like Fast is that users don’t want to give away their data to Google and Facebook which are the current authorization tools used by a lot of websites.
Fast is committing to not owning any data related user’s identity which makes it a product to watch out😄
Along with this, the product has been generating great buzz in the tech circles.
Along with this, the company is hiring employees from startups such as Uber, Postmates and several others. The company’s most notable hire sofar has been Allison Barr Allen, who joined as COO of Fast from Uber where she was a part of the Global Leadership Team.
