Shuo Wang, a cofounder and chief revenue officer of human resources software company Deel, has seen remarkable success, with the company surpassing $500 million in annual recurring revenue in less than five years. Despite facing initial challenges and setbacks, Wang’s adaptability, relentless execution, and extreme focus have played a crucial role in Deel’s growth. Her technical background and sales approach have contributed to the company’s success, with Deel being valued at $7 billion in the latest estimations.
Wang’s journey to entrepreneurship started when she moved to the U.S. from Northeast China at the age of 16. Her first sales job involved selling scooters at flea markets to help her single mother with her import-export business. This experience taught her the importance of having a unique product and inspired her to pursue her own entrepreneurial path. Wang’s background in mechanical engineering and robotics, along with her time at MIT, laid the foundation for her future successes in the tech industry.
After dropping out of graduate school and cofounding an air purification company, Wang eventually reunited with her future Deel cofounders to start the HR software company. Their shared experiences as international students and frustration with hiring and paying employees across different countries drove them to create a solution that streamlines the process. Wang’s dedication to working smaller jobs and attention to detail, such as personally interviewing the first 400 Deel employees, has contributed to the company’s culture and growth.
Despite facing regulatory challenges, including allegations of misclassifying employees, Deel has continued to expand rapidly through acquisitions and partnerships. The company’s focus on “Deel speed” – building and executing faster than competitors – has led to substantial growth, with plans to enter new global markets. Investors and industry experts praise the trust and collaboration between Deel’s founders as a key factor in the company’s sustained success.
As Deel aims to capture a larger share of the global HR software market, Wang and her team are focused on scaling the company and addressing the evolving needs of remote workforces. Recent acquisitions, including PayGroup and PaySpace, highlight Deel’s commitment to expanding its reach and services. With Wang’s leadership and optimism driving the company forward, Deel is poised for further growth and success in the competitive tech industry.
