Last week at CHINICT, Eduardo Saverin dropped by briefly to give his thoughts on his life so far, as well as his investments. While much of the talk was focused on Eduardo’s life and how he got involved with Facebook, the last part focused on what Eduardo was doing with his money as far as investments go.
When asked what his stategy was when choosing which companies he would invest money in, Eduardo was fairly vague. He gave the cliche strategy of wanting to invest in companies that were passionate and would transform the market. He did concede that he did not really have a guiding strategy currently, but whether this is true or him avoiding the question, time will tell. He did ellude to the possibility of starting a fund in the near future.
Eduardo was excited about one thing – Jumio. Jumio is a mobile payment software company in the way that Square is a mobile payment software company. The major exception is that it requires no additional hardware. Square’s system requires a physical piece of hardware to be plugged into the phone to read credit cards. Jumio’s relies solely on the built in camera function of the phone to process its transactions.
Eduardo invested early into Jumio because he feels that mobile payment is one of the new industries that is here to stay and that Jumio’s self-contained system and impressive user acquisition record makes it winner. Whether Jumio or another imitator with a better interface takes the lead be determined in the coming quarters, but for now the man who backed Facebook with his life’s savings is placing his next bet on them.