Clear's Airport Revenue Growth
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Clear is an identity verification platform that started as an airport security fast-pass service and is expanding into broader identity verification applications. The company has built a monopolistic position in airports and is now leveraging its biometric technology for wider use cases.
Key Points:
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Core Airport Business:
- Present in 53 airports
- $530M trailing 12-month revenue
- $3B market cap
- 17M users
- 90% customer retention
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Revenue Sharing Model:
- Gives 10-13% of revenue to airports
- Example: LAX made $25M in subscriptions, Clear gave $3M back
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Strategic Partnerships:
- Took funding from Delta Airlines
- Has former TSA head on board
- Built relationships with airports and airlines
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Expansion Beyond Airports:
- LinkedIn sign-in verification
- Stadium beer purchases using biometrics
- Age verification for adult websites in Virginia
- Vision: Replace physical ID/wallet with biometric verification
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Business Model:
- Consumer subscription ($150/year)
- Revenue share with venues
- Identity verification as a service
The company's strategy is to start with airports but expand into any situation where identity verification is needed, potentially replacing traditional ID methods with biometric scanning.
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.