“There are around 35 deregulated retail energy markets around the world and the challenges seen in the UK apply there too,” Mr Stuart said.
“The opportunity came up to buy a business in Germany and we learned a lot. That started to create a blueprint for expanding into other places.”
In its expansion, Octopus was inspired by the world's largest and most successful technology companies, such as Google and Uber, who have created consistent services across the globe. Their applications, like those Octopus subsequently built, are recognizable wherever you go, regardless of local regulations.
“Uber actually surprises me a lot because not only do they have different regulations in different countries, they also have to deal with city regulations,” Stuart concluded. “It's a challenge, and our platform, Kraken, aims to have that level of consistency across the different places they operate.”
“Looking back, I think the key was to expand quickly into other countries. To solve problems consistently, it's important to go there and learn quickly, without making excuses or overthinking things. That's really key.”
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