Keep pulling the thread on Caryn Seidman Becker.
Caryn Seidman-Becker and her partners acquired the assets of the bankrupt company Clear for $6 million in cash.
Clear has reduced its share count from a peak of 155 million to approximately 133 million through stock buybacks.
Clear's long-term goal is to grow its user base to over 100 million members.
Clear's partnership with Delta Air Lines in 2016 was a transformational moment for the company's scale and technology.
Policies enacted by the Biden administration negatively impacted Clear's operational throughput and customer experience at airports.
The Biden administration implemented policies requiring Clear employees to physically escort members and mandated a high rate of re-checking identity documents, which created operational backlogs.
Clear's customer experience and throughput degraded in 2023 and early 2024 due to government policy decisions, not increased user volume.
Clear became cash flow positive 6.5 years after its relaunch, after burning through $53 million in capital.
In response to the COVID-19 pandemic, Clear reduced its $20 million marketing budget to zero around February 25-26, 2020.
Clear has over 30 million enrolled members on its identity platform.
Clear operates as a vertically integrated identity platform, controlling assets from member enrollment and verification to hardware, software, and physical real estate.
Clear partners with companies like Home Depot and LinkedIn, as well as hospitals, to provide identity verification services.