It is most definitely feasible; it is always best to look at example of teams / co-founder who are doing what you want to do and the tools they are using.

Automattic and the team behind WordPress power 23% of all websites on the internet with a team of 300 mostly spread around the world:

http://automattic.com/about/

They created their own WP theme (P2-Themed) to organize the teams thoughts instead of email.

I am in the process of listening to a great podcast with the founder Matt Mullenweg where he talks about his tools and how he built the team and how they work remotely. Check it out:

http://fourhourworkweek.com/2015/02/09/matt-mullenweg/

Do let being remote stop you from forming an effective team.