Shuo Wang’s journey from selling scooters at flea markets to becoming the cofounder and chief revenue officer of human resources software unicorn Deel is a true rags-to-riches story. Wang, who moved to the U.S. as a teenager, has overcome multiple challenges in growing Deel into a successful company with over $500 million in annual recurring revenue. With a valuation of $7 billion, Wang’s estimated stake in the company puts her on Forbes’ list of America’s Richest Self-Made Women, with a net worth of $850 million.
Wang’s success can be attributed to her adaptability, relentless execution, and extreme focus. Despite facing setbacks and failures in the early days of Deel, Wang and her cofounder Alex Bouaziz took feedback from customers and made necessary changes to the product. This approach, along with Wang’s competitive nature and technical background, has been instrumental in the company’s rapid growth and profitability. Wang’s optimism and dedication to perfection drive her work ethic, as she puts in long hours to ensure the success of Deel.
Before her career in tech, Wang’s first sales experience was selling scooters at flea markets to help her single mother’s import-export business. Inspired by her mother’s entrepreneurial spirit, Wang learned the importance of selling unique products and overcoming language barriers to make sales. Her background in mechanical engineering and robotics design from MIT laid the foundation for her success in the tech industry and her ability to lead Deel to where it is today.
With a focus on making it easier to hire and pay employees internationally, Wang and Bouaziz founded Deel to address the complexities of cross-border payments and compliance regulations. Through Deel speed, the company’s commitment to building and executing faster than competitors, Wang has propelled the company to success. Despite facing regulatory challenges, the company’s growth strategy includes acquisitions in the Asia-Pacific and Africa-Middle East regions to expand its global reach.
As Deel continues to grow, Wang’s leadership style and dedication to maintaining the company’s culture have been key factors in its success. By personally interviewing the company’s first 400 employees and prioritizing customer support, Wang has ensured that the company remains aligned with its core values. Investor Brianne Kimmel notes Wang’s raw execution and determination as driving forces behind Deel’s growth, highlighting Wang as a founder who inspires her.
With a focus on cracking the global HR software market, Deel’s recent acquisitions and expansion efforts signal its commitment to becoming a leader in the industry. Despite regulatory challenges and setbacks, Wang’s partnership with Bouaziz and their shared vision for the company have enabled Deel to overcome obstacles and achieve significant milestones. As the company looks ahead to further growth and expansion, Wang’s leadership and optimistic outlook will continue to drive its success.
