One Year with Our Customers
Four years ago, I sent an email that began like this:
From: Joshua Reich Date: Fri, Jul 17, 2009 at 9:43 AM To: Shamir Karkal, Jerry Neumann Subject: lets start a retail bank
One of the recipients of that email became my Co-Founder, and the other became our first investor. Since then, we’ve passed a lot of promising milestones, but today we’re celebrating the anniversary of the one that’s most important to us: one year since we first launched Simple to customers.
In the past year, we’ve launched features you won’t find in any other banking service, like Reports and Goals, which offer insight into your account like you’ve never had. We’ve innovated by allowing you to block and unblock your card, reset your pin, and deposit a check–all with your phone. And just a few weeks ago, we released two more huge features: Goals for iPhone and External Account Linking.
We hired our first employees about three years ago, and it’s been exhilarating and humbling to watch our team grow over the years. In fact, we’ve more than doubled in just the past year. The team is now made up of 71 of the most dedicated, intelligent, talented, kind, and quirky individuals I’ve had the fortune of knowing (plus me: we’re 72 strong at Simple’s HQ in Portland, OR).
One year is a big milestone for any company–and that goes doubly for us, as a startup working to disrupt a heavily-regulated and historically static industry. In addition to building a service that helps our customers spend smarter and save more, we’ve maintained a team and culture that’s focused on continuous innovation. It’s fair to say we’re future-minded: we spend a lot of time thinking about how banking should look in 2, 5, 10, or 20 years. But today, I want to share a bit of perspective on what we’ve done over the past twelve months:
- More than 250,000 people have requested an invite to Simple.
- We’re now processing over $1 billion in transactions per year.
- Our customers are saving for nearly $100 million worth of Goals.
- Simple Visa® cards have been swiped more than 2 million times.
- We have more than 40,000 customers, from every state in the USA.
- We’ve gone through nearly 500 pounds of coffee at Simple’s HQ.
We started this business with the idea that we could make money by providing an honest service that helped people spend smarter and save more, free from of the pitfalls that are typical for our industry. We believed that, by focusing on a great product and great service, we could build a business that not only does good, but also does well.
As I said above, today we’re observing the anniversary of our most vital and exciting milestone. Quite obviously and quite simply, we couldn’t have done any of this without you, our first customers. Your feedback has a lot to do with how we grow and improve our team and product as time goes on. So, from the bottom of our hearts, thank you. Thank you for sharing your thoughts. Thank you for asking questions. And most of all, thank you for putting your trust in us and sharing Simple with your friends. We hope we continue to satisfy and delight you with the things we build for you every day. Here’s to many, many more years.
Josh is the CEO & Co-Founder of Simple.