Investor Eduardo Saverin is the new-age internet entrepreneur among the five founding partners of the popular social networking site Facebook, alongside Dustin Moskovitz, Andrew McCollum, Chris Hughes, and the website’s inventor Mark Zuckerberg.
Eduardo is considered one of the leaders in the online entrepreneurship sector with an estimated worth of nine billion dollars, which is made up of a staggering 100 million stocks of Facebook.
In his junior year at Harvard, Eduardo encountered Mark. To build his proposal for a social media platform and online guide for students at Harvard, Mark required funding.
Eduardo decided to help Mark because he thought he had a great concept that was worthwhile to invest in.
Mark never considered Facebook to be a means of making money. Furthermore, Mark, the sole goal was to develop a cutting-edge online platform that could unite individuals.
The co-founder of Facebook sought to grow the company after successfully establishing it at Harvard. So, they decided to relocate to Palo Alto, California. Additionally, in 2004 Saverin traveled to New York to do an apprenticeship at Lehman Brothers.
Also Read: Dustin Moskovitz: Facebook Co-founder turned Billionaire
Throughout his internship, Saverin was expected to focus on raising money, establishing a firm, and developing a business plan. Saverin thus became Facebook’s first CFO.
Additionally, it was discovered that Eduardo Saverin had advertised illegally on Facebook outside Mark’s knowing. He even created the online employment board known as Joboozle.
As a result, Saverin and Mark had a very difficult time getting along, and after Eduardo was unable to provide Facebook with the necessary cash, Mark was forced to look for new investors.
Sean replaced Eduardo to raise money for Facebook. Another financier who met Mark via Sean, Peter Thiel, assisted Mark in severing ties with Eduardo.
Mark created an entirely new company called Facebook which was a Delaware Corporation and then gave its new stocks to everybody except Saverin to cut him off.
The contract that Mark became Facebook’s sole director was one that Eduardo was required to sign.
Aporta was founded together by Eduardo and a Mexican journalist named Aldo in 2010. It functions as a charitable website gateway.
Saverin started his venture capital business, B Capital, in 2015 and makes investments in India & Southeast Asia.
He executed agreements in Asia totalling over 150 million dollars in 2016, including those for the company Ninja Van.
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