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Kenny A. Troutt : A Billionaire Who Once was Dirt Poor

Founder, Inspiration, start-up, Story, Tech Story / By

A major Republican donor and the owner of the elite thoroughbred horse farm in Versailles, Kenny Trout is one of the richest persons in the world. The life of the American billionaire was never this easy. As a kid, he went through the financial struggle and worked hard to get at the position where he stands right now. In school, when his teacher questioned him that what he wanted to become in future, he did not know what career he would choose, but he surely knew that he wanted to become rich.

Early Life

Troutt was born in 1948 in Mount Vernon, Illinois, United States. His father worked as a bartender. He was the eldest of his three siblings. Troutt did his schooling from the Mt. Vernon Township High School, and later, graduated from the Southern Illinois University, in 1971. Belonging to a poor family, he always intended to overcome his family’s financial conditions and become rich. Due to the shortage of money, he started working at a very young age, to support his family and earn extra bucks. He even sold insurance to subsidise his studies while he was in college.

Kenny Troutt
Image source: dmagazine.com

Career

After completing his graduation, with continues hard work, he co-founded Excel, a long distance phone service, along with his business partner Steve Smith, in 1988. Smith’s interest in the network marketing business, helped the two to start the company, as he had found much more scope in the same. Just in nine years, the company had earned revenue in billion dollars. Excel became the fastest growing company in the U.S., even faster than Microsoft. In 1996, it went public in the New York Stock Exchange under the symbol ECI, becoming the youngest company ever to join the NYSE.

In the month of June, the very next year, Excel acquired the Telco Communications Group, followed by a merger with Teleglobe, in November 1998. The merger between the two companies brought lots of fortune to the two co-founders of Excel. Troutt and Smith became billionaires overnight.

Troutt retired as CEO on September 20, 1999, and was replaced by Christina Gold. Currently, Troutt serves as the chairman of Mt. Vernon Investments.

Personal Life

Troutt is married to Lisa E. Copeland and has three children with her. The family lives in their 13000 square foot grand estate in Dallas Texas. At present, he owns a 2,400-acre thoroughbred horse breeding and racing farm in Versailles, Kentucky, named WinStar Farm. In 2014, his net worth was estimated to be approx. US$1.5 billion.

Jacob Blackstock : The Person who Transformed the Emojis into More Realistic Bitmojis

Founder, start-up, Story, Tech Story / By

These days, we all are on social media sites, chatting our whole day away. Yes! And when it comes to expressing what we feel, words come after the emojis. Emojis is the integrated way of telling how you feel, and who knows better about Emojis than ‘BA’.

Confused about who is BA? BA is none other than Jacob Blackstock, the man behind “Bitmojis.” If you are an active social media user, you probably know what Bitmojis are. Bitmojis is an advanced version of emojis. it’s nothing else but ‘you’. Yes, Bitmojis is what you would see yourself as in an animated fantasy world. And the man behind this beautiful fantasy world, Jacob Blackstock or as he prefers himself to be called, ‘BA’ has a story which stands a must listen one.

Jacob
Image Source: businessinsider.com

The Toronto born boy had an exquisite interest in movies and drawings. Jacob was deeply influenced by some of the movies like Mary Poppins and Poltergeist. He believed in himself and saw his future in them. The day he got to know that only the humans create those movies, he decided to do something in the same field. His mother gave him tips about his speech and told him he must not forget about mentioning her when he would receive an Oscar. His passion for his dream to do something in movies led him to write a short story, “ Mr Beaver in Space”, at the mere age of four. While in school, he not only wrote but also, produced and acted in a play.

He also had quite an interest in drawing. It was almost like that he started drawing the day he learnt how to hold a pencil. He was too much into cartoons and comics and who knew that he would do something so extraordinary out of something so simple.

The ‘movies’ interest was not over yet. He got a job in a film studio and made an 11 minutes movie, which was animated using stop motion. It took him three long years to create the 11 minutes movie. It was Outrageous, but at the same time, he was also exhausted by this. He wanted to do something else, something different.

Keeping this in mind, he started working on a new idea. The project got the funding of the Canadian government, and all BA did was that he would sit every day on his desk, take a drawing sheet, and draw a 10×8 inches panel. He drew, drew and drew. Not thinking about what is going wrong, or without detailing, beautifying all the stuff he made, he drew and drew. Although he was not completely sure about what he was doing, he went on for a few months, and considering the work he was doing, he decided that something has to come out of it, and it cannot belong to the garbage.

Soon, he realised that it was too much work for him. He became tired of drawing, and that’s when he created an online comic builder. It was an easy-to-use tool and created comics faster than ever. The real strike for him was when he discovered that this comic builder designed people. The comic builder turned out to be wilder than his own imagination.

That’s when he came up with Bitstrips with the help of his high school friend Jesse Brown, in 2007. Based on his thinking that the comics take a lot of time, Bitstrips allowed people to make comics even with little artistic skills. Jesse referred it to as “YouTube for comics”. At first, it was meant for the educational purpose, i.e. was used in schools, but soon they noticed that it was also being used outside the class. In 2012, a Facebook version for Bitstrips was launched, and within months, it gained heavy user amount, i.e., more than 10 million users. An app was launched, and just in the time of few months, it became a hit. It was among the most downloaded apps across the globe. Upon which, BA and Brown received funding from Horizons Ventures and Kleiner Perkins Caufield & Byers.
In October 2014, BA came with Bitmoji, which gave users the independence to create stickers which featured comic characters of Bitstrips.

“Texting is making the conversation more convenient than ever, but it’s also stripped away a lot of the things that make communication human, we think one of the most important things that are still missing is identity. If you think about history, 99 per cent of human communication has been face-to-face,” said BA upon the purpose of Bitmoji (Source- Business Insider).

He further said that Bitmoji expresses what’s inside you. “Your avatar doesn’t have a bad hair day,” he said. Bitmoji really stood as the perfect animated avatar of the person who used it. It relevantly shows the best you!
In the year 2016, speculation started rising that Snapchat wanted to buy Bitstrips, which it did around for $100 Million. Bitstrips now only focused on ‘Bitmoji’, and soon after, a Snapchat update with integration with Bitmoji was released. Bitmoji became the most downloaded app on the iOS app store in countries like Australia, Canada, France, United Kingdom and the United States.

According to BA, Bitmoji is the “next level” or “beyond” emojis. Bitmoji releases new updates very quickly and sometimes even within 24 hours. Bitmoji currently, is a part of emoji and is gaining its spice by getting involved to Tinder to create something that shows the love side of ours.

BA predicted the needs of the communication of the future, and he presented it to the world which got famous just in a jiffy. Such is the power of imagination. And so is the story of BA or we may say, the CEO and Co-Founder of Bitstrips.

Logan Green & John Zimmer; The Nice Guys of Ride-sharing

Founder, start-up, Story, Tech Story / By

“Follow your instinct,” you might have heard it several times from the mouths of the most successful entrepreneur across the world, but how many times it happened that you really did? Logan Green and John Zimmer, two young tech professionals, are among the ones, who went along with their gut feeling of starting an unusual business of sharing a car with strangers for the money. In the beginning, they were warned by many, that the business has higher chances of failing. But after almost ten years, the two are operating the same business, backed by biggest venture capitalists and making revenue in billions every coming year.

Logan Green was a native of California, where he attended the New Roads High School in Santa Monica. He received a bachelor’s degree in Business Economics from the University of California, Santa Barbara. At the college, he founded The Green Initiative Fund and was the youngest director for the Santa Barbara Metropolitan Transit District.

As a child, Green used to ride with his parents in their car, and whenever he saw outside the car, he found more cars, with most of the times, only a single person riding it. The time he had to join the college, he left his car back at home, to try the other conventional means of transportation. At the same time, his girlfriend Eva was also transferred to a college in Los Angeles.

lyftfounders
Image source: riverfronttimes.com

In the time of three years of her college, Green continued to visit Eva on every weekend riding different transportations. He even asked Zipcar, a car-sharing program, to implant their cars at UCSB, but could not convince them. Finally, he himself bought four cars and started the car-sharing program at the campus. Under the program, the users could unlock cars with radio-frequency identification.

On the other hand, Greenwich, Connecticut brought up John Zimmer, was also interested in the car-sharing concept. Zimmer, a graduate from Cornell University School of Hotel Administration, was influenced with the fact that he could fill the empty seats of his car while going back to home in the college breaks but had no idea from where to begin. After graduating from college, Zimmer started working as an analyst in real estate finance at Lehman Brothers in New York City, keeping a journal about carpooling ideas, side-by-side.

After completing the college education, Green went on a trip to Zimbabwe, where he was introduced to the crowdsourced carpool networks. The idea led him to build a platform named Zimride, using the Facebook API, upon which users could find and plan carpools.

Eventually, at the same time, he was introduced to Zimmer on Facebook via a common friend. Zimmer came to know about Zimride, and both coincided on the same idea of the development of a carsharing platform. As the two shared the similar interest, it took no time for Green to fly to New York and meet Zimmer.

In late 2006, together Green and Zimmer launched the first version of Zimride in the Cornell University and later, in 2007, in the UCSB campuses. Over 20 per cent of students registered for the service, but still, they used it only a few times in a year. During the very time, Uber was also providing its car-renting service, but the service included the rental of brand new luxury cars. The idea of Zimmer and Green was way too different from that.

Green and Zimmer moved to Silicon Valley, to work on the growth of the company and shared an apartment that served as both apartment and office. After working hard on Zimride for five years, they expanded the company to thousands of users and over 50 universities.

The main mission, the two were working towards, was to provide an alternative to car ownership. In 2013, they sold Zimride to Enterprise Holdings and turned there focus towards Lyft, their newly founded company, providing carpooling in local areas.

The next thing they figured out was that having an app for the smartphones can get them more users as well as more frequent rides for localities. So, they hired two engineers to develop an app for Lyft, and within three weeks the app was ready.

In 2017, Green and Zimmer raised $4.1 billion dollars for Lyft, valuing the company at $11.5 billion. Currently, Lyft is providing its services in 50 United States and has grown to 1,000 employees.

In 2009, Zimmer and Logan Green were named finalists in Business Week’s list of America’s Best Young Entrepreneurs and in 2014, the two were named “35 Under 35 list of Inc. Magazine.

Patrick Collison : Co-founder of Stripe & the Youngest Self-made Billionaire

Founder, start-up, Story, Tech Story / By

Learning has nothing to do with the age, whether you are 8 or 80, if you are learning some good stuff, it is going to pay you off in some unusual way. Like Patrick Collision’s interest in computer programming, that he grew at a tender age, led him to become the youngest self-made billionaire. He established one of the leading software companies, at an age when most of the people are still in high school or attending the college.

Early Life

Patrick Collison was born on 9 September 1988, to Lily and Denis Collison, in Dromineer, County Tipperary. He is the eldest of his two brothers John Collison and Tommy Collison. He was just eight when he started learning computers at the University of Limerick. His interest in computers, later, led him to study programming languages at the age of ten.

pattrick collison
Image Source: businessinsider.com

At the age of fifteen, Collison took part in the 40th Young Scientist and Technology Exhibition, where he won the runner-up’s trophy for his project on artificial intelligence named after his idol Issac Newton. The very next year, on 14 January 2005, he again participated in the same competition and won the first prize, for a project on a LISP-type programming language. He was awarded a €3,000 cheque and a trophy of Waterford Crystal presented by President Mary McAleese.

Collison completed his high school education from Gaelscoil Aonach Urmhumhan, Tipperary, Ireland. Later, he joined the Castletroy College in Castletroy, County Limerick.

Career

After graduating from Castletroy College, Collison entered the Massachusetts Institute of Technology, from where he soon dropped out to co-found a software company named ‘Shuppa’, with his younger brother John. As they could not raise funding for the company in Ireland, the two approached a few investors from the Silicon Valley and moved to California after Y Combinator showed interest in the start-up.

The two joined hands with other two Oxford graduates, Harjeet and Kulveer Taggar, and merged the company into Automatic.

In March 2008, at the age of 19, Collison sold the company to a Canadian company named Live Current Media, and both the brothers became millionaires overnight. In the month of May, in the same year, Collison accepted the position of director of engineering in the company’s Vancouver branch.

Founding Stripe

While in high school, Collison and his brother started building iOS apps. During this time Collision discovered that it is much easier to earn money through those apps, rather charge for things online and get the payment. This brought an idea of the development of a payment app into Collison’s mind, and after getting inspired by the working model of virtual hosting provider Slicehost, he built a prototype of his payment app.

In 2010, the Collison brothers built and released the first version of the app named as dev/payments, which later was renamed to Stripe. Initially, they tested the app with their friends and collected the feedback from them. Soon, people started talking about the app and Collison had a long waiting list for the app users. In the same year, the Stripe managed to receive a seed funding from Y Combinator. In the following year, it also received funding from venture capitalists Peter Thiel, Sequoia Capital, and Andreessen Horowitz, worth $2 million. Again in 2012, Stripe was funded with an $18 million Series A investment led by Sequoia Capital at a $100 million valuation.

Till September 2011, Stripe was running on an extensive beta. At the time the company became public and received a $20 million Series B investment.

Personal Life

Currently, Collison is working as the CEO of Stripe and lives in San Francisco, California. In November 2016, the Collison brothers became the world’s youngest self-made billionaires. The two were also featured on a young Irish person’s rich list aired on an RTÉ television in the Christmass edition 2008.

Jensen Huang : The CEO & Co-founder of Nvidia

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An American entrepreneur and a businessman, Jensen Huang is the CEO and co-founder of the graphics-processor company Nvidia. Huang is an all-rounder, who as a child was placed third in junior doubles at the U.S Open and at the same time, was deeply in love with his books. He is a fan of tattoos and his love for cars as well as speed, encouraged him to buy a Ferrari 430, a Ferrari 599 and a Swedish Koenigsegg CCX. Huang is never afraid of failures and believes that it is ‘Okay to Fail’, to achieve your goals.

Early Life

Jensen Huang was born on 17 February 1963, in Tainan City, Taiwan. After some time, his family moved to Oneida, Kentucky, and then to Oregon. His family, along with his elder brother, sent him to live with their relatives, in the United States, when he was just 10 years old. There, the two joined the Baptist School, a school for troubled students. After a few years, both of them were back in Oregon, to reunite with their parents. Huang completed his high school education from the Aloha High School, outside Portland.

In 1984, Huang entered the Oregon State University, where he received a bachelor’s degree in electrical engineering. He further joined Stanford University, to complete a master’s degree in the same, in 1992.

Founding Nvidia

After completing his education, Huang started working at LSI Logic as the Director of the company. He then, joined Advanced Micro Devices, Inc., as the microprocessor designer.

jen-hsun-huang
Image Source: idolnetworth.com

Huang knew that graphics is the future of computers and gaming will be the most revenue generating field in the future. In April 1993, along with his partners, Curtis Priem and Chris Malachowsky, Huang co-founded Nvidia, a software and semiconductor maker company, with a capital of $40,000.

Huang was appointed as the CEO of the company, Curtis Priem as the Chief Technical Officer and Chris as the Senior Vice President for Engineering and Operations. Chris worked at the same position for ten long years, and in 2003, he took retirement from his post.

Nvidia deals mainly in four markets including gaming, professional visualization, data centres and auto. The company has also started working in the field of artificial intelligence.

The company received $20 million of venture capital funding from Sequoia Capital and others. In 2018, the company recorded a 40.6% increase in the revenue of the company, with the earnings of US$3.047 billion.

Personal Life

Huang is married to Lori Huang, who was once his Lab partner in College. The couple has two children with their marriage.

Huang is also into Philanthropy and donated US$30 million to build the Jen-Hsun Huang School of Engineering Center to his alma mater Stanford University.

Ernst & Young named him the Entrepreneur of the Year in High Technology, in 1999. In 2003, he was presented with the Dr Morris Chang Exemplary Leadership Award. In 2009, he received an honorary doctorate from Oregon State University. Huang was named among the world’s top 50 influencers, in the in the inaugural EDGE 50, in 2018.

Alan Mamedi : The Person Who Made the Phonebook of a Smartphone Smarter

Founder, start-up, Story, Tech Story / By

The telephone is the most useful invention by humans. The era changed and brought the revolution in the telephone industry, jumping from two-piece landlines to a chordless smartphone. But, one thing that was constant, the reception of blank calls and cold calls. Even at the time of landlines, people could not identify the caller, as there was no medium that could show the identity of the caller. But, yes, later on, the caller Ids, did help to an extent. However, it was still impossible to recognise the callers from the new numbers. The same problem remained in the time of the mobiles and smartphones as well. But, Alan Mamedi, a developer from Sweden, came to the rescue and gifted the much-awaited app Truecaller to the world.

Early Life

Mamedi was born on 30 October 1984, in an Iranian family. His mother was a Kurd, and his father was an Iranian political leader. After the Iranian revolution took place, his family brought him to Sweden. He was a bright student and completed a B.sc degree in Computer Science, from The Royal Institute of Technology, in Stockholm Sweden.

Alan Mamedi
Image Source: techinasia.com

After completing his education, Mamedi started working as a Salesman at The Phone House and stayed at the same company for two years. With an experience of two years and a graduate degree in Computer Science, Mamedi got inspired to start his own company. In 2006, Mamedi founded ‘Bidding.se’, an auction website, where the one with the lowest bid would win the auction. The website was a success, and Mamedi received an offer to sell it, within three months of its launch.

In 2007, Mamedi again came with another product, Möbeljakt.se, that became the largest search engine, working in Sweden, for the home interior. In 2008, he started working as the Chief Architect at Birdstep Technology and Företagsinformation i Mediaportalen, at the same position, for the next two years.

In 2009, Mamedi launched Jobbigt.se, an employer review website, known to be the biggest employer network in Sweden. Through the website, people could post reviews about their current or previous employers.

Founding Truecaller

After the launch of Jobbigt.se, Mamedi started receiving calls from those employers, who had got bad reviews on Jobbigt.se. The employers wanted Mamedi to delete those bad reviews as those were affecting their reputation.

This incident made Mamedi, think and discuss the matter with his old friend Nami Zarringhalam, as he was receiving unlimited calls regarding the same. The discussion also included the issue of increasing cold-calls, invading the privacy of people. At the time, there was no such software that could help in avoiding those kinds of calls and identify the new numbers. The two came to the conclusion that there must be a software that can handle those issues. The software must have a caller ID so that people could decide the priority of the call. With the intense discussion, Mamedi and Zarringhalam finally decided to create a new app; Truecaller.

On 1 July 2009, Mamedi released the initial version of Truecaller, under the name of his company True Software Scandinavia AB. The company was founded by Alan Mamedi and Nami Zarringhalam in the same year and is situated in Stockholm, Sweden.

Initially, the app was launched for the BlackBerry smartphones, but due to huge success, it was also released for the Symbian and Microsoft Windows mobile phones. On 23 September 2009, the app became available for the iOS and Android phone users. By the year 2012, it was also launched for the RIM Blackberry, Windows Phone, and the Nokia Series 40, and it grew to five million global users in the same year.

Truecaller in 2012, received US$1.3 million funding from OpenOcean, a venture capital. In 2014, it also received an investment of $18.8 million from Sequoia Capital and $60 million from Niklas Zennstrom’s Atomico investment firm and from Kleiner Perkins Caufield & Byers.

Due to the increased user base in India, Truecaller also launched another app, exclusively for India, with name Truemessenger, that can identify the sender of a message.