Your Tech Story

story

Brian Armstrong : The Nerd Who Co-founded Coinbase; the Future “Google” of Crypto

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

It is rare to find a single person with a technical background who also has a great sense of business. Such a person is capable of building a robust business model that will pay off really well and sustain in the changing technology and business needs. Brian Armstrong, a nerd from San Jose, who had been experimenting with various businesses, since his teens, and also had an immense interest in programming languages, ended up in building the world’s largest cryptocurrency exchange; Coinbase.

Early Life

Armstrong was born on 25 January 1983 and was brought up in the San Jose, in California. He was still in school when he developed an interest in computer programming. He started learning Java and CSS, that led him to get work from local firms from San Jose when he was still in school and created websites for them. His neighbour’s garage was his first office.

Brian Armstrong
Image Source: techcrunch.com

In 2001, after completing his school, he went to Rice University, where he completed a graduate degree in Computer Science along with another graduate degree in Economics. He also received a master’s in Computer Science from the same university.

Early Career

During his bachelor’s in Computer Science, Armstrong had done a four months’ internship as the Team Lead at IBM San Jose. There he developed tools for Network Attached Storage devices based on Java. Later, when he completed his graduate degree in Computer Science, he started working as an Enterprise Risk Management Consultant at Deloitte and Touche.

In 2003, he co-founded UniversityTutor.com. The website helped people find personal tutors in their area. On 16 May 2011, Brian joined Airbnb as the software engineer and worked there for a year.

Founding Coinbase

Armstrong was always interested in starting some business and actively thought of many ideas for that. By the end of 2010, he came across to the concept of Bitcoin. Being a technical product, it was quite amusing for him. At the same time, he got familiar to the fact that there were not many marketplaces for the exchange of bitcoin.

Being a computer programmer and an economist, he was capable of conceiving a plan to create an exchange marketplace for Bitcoin. In July 2011, Brian came together with Fred Ehrsam, who worked at Goldman Sachs, to co-found Coinbase.

It was the time when a single Bitcoin priced at $10 and buying Bitcoins required serious tech chops. Coinbase was the alternative for such transactional platforms, where people could use the traditional bank accounts to purchase cryptocurrency, similar to using PayPal. The two founders got Coinbase to enter into Y Combinator startup incubator, in 2012, to raise funding for the company.

In October 2012, the two launched the company and started operations of buying and selling the cryptocurrency through bank transfers. In 2013, the company received funding worth US$5 million from the venture capital firm Union Square Ventures.

Due to the ease of use, by the year 2014, the company had a million users using its services. In the same year, the company acquired Kippt, the blockchain explorer service. It also launched the vault service for secure storage of bitcoin as well as added a feature to process Bitcoins to payment apps like Stripe, Braintree, and PayPal.

In 2015, the company launched the Coinbase Exchange, through which the professional traders could exchange the cryptocurrency. By 2016, the company had added Ethereum to its platform and also rebranded the exchange name to Global Digital Asset Exchange (GDAX). Currently, the exchange process the transaction of multiple cryptocurrencies, but has stopped the same for Ethereum, due to suspicion of the attack on the network.

The company is currently processing its wallet in 32 different companies.

Personal Life

In 2017, Armstrong was listed as Fortune 40 under 40, and later, recode under the 100 list. By the end of 2018, he was among the list of billionaires, and his net worth was estimated between $900 million and $1 billion. Currently, he serves as the CEO of Coinbase, the company having over 200 employees.

Gill Shwed : The Israeli Inventor & the Pioneer of the Cybersecurity

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

Computer’s security has been the biggest issue, even if its a PC or a huge work station. Also, as the Internet is a vulnerable place, the data security has become a major concern. But thanks to those who have been working to maintain the cybersecurity, and are, continuously, providing proper protection from various threats and malware. One of such computer scientists, who are responsible for the basic computer security, is Gill Shwed. This Israeli software engineer is one of the extraordinary personalities who has a big share in the development of the cybersecurity and is considered as the inventor of the modern firewall.

Early Life

The 50 years old Israeli software engineer, Shwed, was born Jerusalem, Israel, in 1968. He was merely 13 when he grew interested in computer programming and started practising it. Being a bright student at the school, and having mastered computer programming at a young age, he was able to get enrolled at Hebrew University in Jerusalem to study computer science, at the age of 15. When he got admission into the college, he was still in the high school.

Gill Shwed
Image Source: ifi.today

Career

After completing his education, Shwed joined the Israel Defense Forces and served the Intelligence Corps Unit 8200, where he worked on securing classified networks. Soon after completing the military service, he joined an Israeli startup company Optrotech, as a software developer.

Founding Check Point

In 1993, Shwed joined his hands with Marius Nacht and Shlomo Kramer, to found a computer software and hardware company, Check Point. Nacht was his colleague from Optrotech and Kramer was a friend from his military unit.

The foundation of Check Point was based on the core technology, the stateful inspection. The first product the company launched was the FireWall-1. It then developed the world’s first VPN, the VPN-1. The two products were inspired by Shwed’s work at the military.

Soon, Check Point raised its first round of funding from the BRM Group. Just the next year, in 1994, Sun Microsystems signed an OEM agreement with CheckPoint, and HP too signed the same agreement with the company in 1995. The same year, Check Point established its head office in Redwood City, California. In the following year, the company went public on NASDAQ and raised $67 million from its IPO.

Check Point and Nokia came together in 1998. The two companies bundled their software together, i.e. Check Point’s security software and Nokia’s Computer Network Security Appliances.

Check Point acquired many startups and companies, including Zone Labs (2003), Protect Data (2006), NFR security (2006), Nokia’s network security business unit (2009), Liquid Machines (2010), etc. In March 2018, Check Point along with SanDisk launched Check Point GO, a USB drive to turn a PC into a secure corporate desktop.

In 2016, the company’s revenue was estimated around US$1.741 billion and the net income at US$ 725 million. In the same year, total 3,500 employees were working in the company.

Personal Life

Shwed holds Israeli citizenship and lives in Tel Aviv, Israel. In 2002, he got featured on the cover of the billionaire issue of Forbes. He has received a doctorate degree in Science from Technion – Israel Institute of Technology, in 2005. He was named in the list of world’s 100 top young leaders by the World Economic Forum’s Global Leader for Tomorrow. He became the first recipient of Israel Prize in technology.

Apart from programming and computing, Shwed has immense interest in cooking and photography.

Robert E. Kahn: American Computer Scientist & the Co-inventor of Internet

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

What is the thing in this modern world you cannot live without? Well, without any guesses it would be internet and why? Because it’s simply irresistible! At present, no one can imagine a world without the internet because it has become an integrated part of our lives. Everything we tend to do, normally, at first we check about it on the internet, so that nothing goes wrong. The Internet has got the answer for literally everything! It is no more a thing for the business only, but it has also entered into the personal lives of people. From the brightest of the ideas to the darkest of things, from social media to entertainment, it is everywhere. The Internet carries information, business, entertainment, and what not. In today’s era, almost everyone has access to the internet.

But the internet was not always a posh thing. It had its own origin, and it was Robert Elliot Kahn, who defined its origin. He is the mastermind who made our lives easier by bringing the internet into our lives. The story of Robert though looks simple but is the most inspiring one, as it shows that the knowledge, when contained properly can help one change billions of lives, as he did.

Bob_Kahn
Image Source: Wikipedia

Robert Elliot Kahn was born on December 23, 1938, Brooklyn, New York, US. He was born in a Jewish family. He did a bachelor’s degree in Electrical Engineering from New York’s City College. For his higher studies, he went on to Princeton University and received a master’s degree, in 1962, and completed a PhD, in 1964.

Kahn started working in Bell Laboratories. He also gave service as an assistant professor in Massachusetts Institute of Technology (MIT) for two years, from 1964 to 1966. Later, he joined Bolt Beranek & Newman (BB&N) as a senior scientist. BB&N was an engineering consulting firm. It was his joining of BB&N that where demonstrated the ARPANET by connecting 20 different computers at the International Computer Communication Conference.

ARPANET, the name derived from its sponsors DARPA was basically a different kind of project. ARPANET stands for Advanced Research Projects Agency. ARPANET is considered as the predecessor to the internet. It basically was a satellite packet network project. In BB&N, he was in the group that designed Interface Message Processor, which was mediate between the network and the host computers, of the institution. He further went on and organized an International Conference on Computer Communication. This also stood out as ARPANET’s public debut.

IIn 1972, Kahn left BB&N and joined DARPA’s IPTO (Information Processing Techniques Office). While working at DARPA, he faced and solved problems about the deployment of packet switching technology. However, the real problem was connecting the military network. That’s where ‘internet’ came into being and got its name, Internet- the network of networks.

In 1973, Kahn was joined by Vint Cerf, and the two started working together on the Internet’s Technical Protocol. The protocol is the basis of internet’s architect, or we can say, is the foundation of the internet. TCP/IP (Transmission Control Protocol/ Internet Protocol) are the primary structures of the internet, which permits a computer to enter a certain network.

Alongside internet, he also contributed to the US government’s Strategic Computing Initiative and coined the term ‘National Information Infrastructure’.

In 1985, he left ITPO, and joined the Corporation for National Research Initiatives (CNRI), a non-profit organization in Reston, Virginia, as the president, in 1986.

Robert was an achiever. He won many awards which included U.S. National Medal of technology presented by former President Bill Clinton, in Dec 1997, ACM Alan M. Tuning award in 2004 (biggest award in Computer Science) and Presidential Medal of Freedom in 2005, presented by former President George Bush.

The Founder of the Internet, Robert E. Kahn’s (aka Bob Kahn) story shows us that success doesn’t come overnight and it takes patience and hard work. Your work is the baby steps to success. We should never constraint ourselves just because we don’t see results just after.

Robert is an inspiration to the whole world.

Scott Heiferman : Founder of Meetup, A Platform Connecting People in the Real World

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

Losing your mother at a young age might be a difficult situation, but when you have five elder siblings to hold on to, you can stay strong when the phase passes. Scott Heiferman considers his five siblings as his five parents other than his father, who guided him well when it came to his life as well as career choices. Even when he decided to work at a McDonald’s restaurant, there was no pressure on him. But the wake of September 11, attracted his attention to a crucial topic, which made him found Meetup.com.

Early Life

Heiferman is the youngest of his four siblings, born in Homewood, Illinois, in 1972. He was still a child when he grew an interest in technology and business. He started his first business when he was just 9, the “Scott’s Slave Service”, which of course was for his family members only, in return he received food and shelter for him. He went to the Flossmoor High School in Homewood and started learning programming languages on his Apple II. He even created a Commodore VIC-20 graphics program. In his teens, he started another business and sold coupon books to earn extra money. The money he earned from his coupon books business, was sufficient to pay for the fees for the first year of his college.

Scott Heiferman
Image Source: medium.com

He joined the University of Iowa, where he first took engineering as majors. But later, he changed his mind and took business studies. During college, he worked as the host of a weekly radio show named Advertorial Infotainment, at the college radio. The show became the first radio program on the internet. Being brought up among people from different fields helped him experimenting with his career choices.

Career

After graduating from college, Heiferman started working at Sony, as Interactive Marketing Frontiersman. After working for one year from 1994 to 1995, he flew to New York. In New York, he started an online ad-agency, named as i-traffic. Soon the company earned lots of profits and grew to 100 employees. The success of the company attracted the interest of Agency.com in it, that, in 1999, acquired i-traffic for $15 million. Heiferman continued working for Agency.com but left just in a year.

He was tired of meeting people from the corporate world, so to take a break from the same and to get in touch with the real world again, he started working at one of the McDonald’s restaurants.

Founding Meetup

At the time he worked in McDonald’s, Heiferman lived near the Twin Towers in New York. The attack of 9/11 made him connect with his neighbours for the very first time. A few days after the attacks, he started reading ‘Bowling Alone’, a book based on interacting with strangers and building trust.

At the same time, being a music lover, he used to go to different music concerts. He even attended the Luna concerts, 20 times, as it was his favourite band. In the beginning, his friends went with him, but later, he started going alone to the concerts. At the concerts, he started noticing people who were coming to the same concerts with him. The meetups with his neighbours and the meeting with the strangers at the concerts led him to think of creating a platform upon which people could meete other people who shared the same interest as them.

Soon in 2002, Heiferman founded Meetup along with five other co-founders. He started the company with a total of 10 employees. At the same time, he also founded another startup named Fotolog. Only in two years, Meetup reached one million users. In 2003, Barak Obama, who was a candidate for the U.S. Senate at that time, had promised to attend any meetup having a hundred supporters. For that Democrat, Howard Dean organised a campaign over Meetup.com and for his surprise more than hundred people had gathered through the website.

In 2005, Heiferman started imposing a fee for running Meetup groups. It was 2009, when the company made its first huge profit, having 32 million members in 182 countries. In 2017, Meetup was acquired by WeWork, Scott Heiferman remaining the CEO of the company, till in 2018, when he stepped down from the post to retain the office of Chairman of the company.

Personal Life

On 13 September 2008, Heiferman got married to Emily Krasnor an officer of the United Nations Development Fund for Women. The couple has two children together.

In 2013, Heiferman was named “Innovator of the Year Under 35” by MIT Technology Review. The book ‘Bowling Alone’ was the game changer for him, and still, the copy of the book is presented to every employee at their joining in the company.

Eric S. Yuan : CEO & Founder of Zoom Video Communications, ‘A Service That Connects People’

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

In this fast running world where problems require an instant solution, face to face interactions are hard to get. At this time, people require a connection, which they can use, to interact with each other, without covering the actual distances between them. Also, many video calling apps in the software market doesn’t allow to connect more than 4 or 6 people at the same time. Eric S. Yuan also had faced the same problem, but instead of resenting over it, he stepped up and worked hard to give this industry ‘Zoom’.

Since his college days, Yuan had dreamt about building a communication platform that covered the distances between the people without even travelling. That’s when Zoom’s idea popped up in Yuan’s mind while he was still in his freshman year of college. And, in 2011, he founded Zoom. Zoom is a company that provides remote conferencing services using cloud computing. The company is headquartered in San Jose, California, United States and the software it brings, gives you the advantage of the combined video conferencing, online meetings chats and mobile collaborations.

Eric S Yuan
Image Source: bmmagazine.co

While in college, Eric’s girlfriend (now wife) lived at a place quite distant from his place. Whenever he wanted to meet her, he used to take excruciating 10-hour train rides. He wished that he could build a solution to this problem through which his girlfriend and he could stay connected, even without being together, physically. He wanted that he could visit her anytime without any travelling.

Eric always said that it was his dream to come to the United States and achieve something big due to his interest, he had grown in the new technology ‘Internet’ that was blooming at that time. At the time, when he applied for the Visa for the US, he got his application rejected a few times. He continuously applied for nine times over the course of 2 years. And after his ninth try, he was finally granted one.

“When I came to America, I did not even speak English, but I knew that I could write codes. I knew I had to work very hard, and so did I. Also, I’m very paranoid so I say to myself, I have to work harder’. Working hard, that is the only thing I know better than my competitor”, says Eric recalling his old days and his mantra of success.

In 1997, Eric came to the Silicon Valley and joined WebEx. WebEx was real time, and it had only a dozen employees. After Yuan’s joining, the company grew very quickly and went public in no time. In 2007, WebEx was sold to Cisco. He was appointed as the Vice President of Cisco and the in-charge of collaborations software.

At Cisco, he did consumer interactions directly with consumers. He found out that many of the consumers were not happy either with Cisco or WebEx. Eric knew that this was the time to do something big that he always dreamt of, something during his college times. He left Cisco and alongside geared up a team of 40 engineers, and came up with ‘Zoom’ in 2011.

After the release, Zoom frew to about a thousand users, and the numbers kept on growing with every update release. As of now, Zoom can process 1000 participants in a single video conferencing call. After being in the market for 5-6 years, it registered more than 20 Billion annualized meeting minutes.

Eric believes that keeping customers happy is something which runs a company. If the customers are not happy, the company will be long gone. Zoom was ranked 18 in the Forbes Cloud 100. Also, Eric was ranked number 1 in the top CEO by Glassdoor based on approval ratings from the employee reviews. Eric got an astonishing 99% approval showing that how he keeps his employees happy too.

He wishes that he could open his company a lot before, but he is still happy with his success. He thrives to do hard work. When asked upon start-ups, he said, “The journey is long and tough, but one must not be afraid to start. One should be vulnerable to taking risks. Also, find investors who want to invest in you, not only in your business”.

Eric S. Yuan, the CEO and Founder of Zoom Video Communications, has a story that motivates and says out loud that hardships are inevitable and without them, no one can reach the success they desire. Eric is an inspiring leader, leading his team to the best to provide the best.

Adobe : The Software Giant Transforming the Way You Look at the World

start-up, Story, Tech Story / By

Technology, today, has grown to such level that it has changed the way you look at the world. Not only the world, but it has changed the way you look at yourself! Shocking, isn’t it? There are many powerful tools available in the software market that people can use to make you believe in the things that can’t even exist. The creativity, the risks, the hard work, the growing power of multimedia, the inspirations and the motivations, when all were put together, the greatest software of all time, ‘Adobe’, became a reality. Great as it might seem, the story of the success of Adobe was not an easy one, but is the best one you can get inspiration from.

Adobe is an American Multinational computer software company. The headquarter of the company is located in San Jose, California, United States. The foundation of the company is purely based on creating software that enhances the creation of median and intensifies creativity.

adobe
Image Source: adobe.com

Adobe was founded by John Warnock and Charles Geschke, in December 1982. The company’s first office was the Warnock’s garage. It all started when both of the computer geniuses developed a programming language that was specially designed to describe position, shape and size of objects on a computer-generated page. The software was known as ‘Postscript’. But the company, Xerox, they were working in, refused to take the product to the market. Both John and Charles resigned and started working on their own on the same project.

‘Adobe’ name was inspired by Adobe Creek, Los Altos, California, a location near to their homes. The logo (A creative and stylized “A”) was designed by John’s wife, Marva Warnock.

The first product that Adobe launched in the market was a ‘PostScript’ software. It was a powerful computer language, the same that they had designed while working in Xerox. It described to a printer the whole layout of an electronic page. The product surprisingly made a breakthrough, and by 1985, Adobe had $1.9 million in sales. By 1986, the revenue that the company was generating was around $16 million, out of which, $4 million were income based.
Steve Jobs wanted to buy the company, but both of the creators refused. However, after giving second thoughts to the idea, and having words with their investors, John and Charles agreed to sell 19% of the company’s shares to him. For that, Jobs paid at least five times of their company’s value at that time. This deal made it the first company to gain such a profit in its first year only.

This was just a start for the company. Next, it launched a second product which was a type-1 interface. The interface provided digital type fonts that could be printed in any resolution. Subsequently, the company launched the marvellous ‘Adobe Illustrator’, which produced high-quality drawings that can be printed and published very easily. The product stood out brilliantly and generated approximately $85 million as revenues. This was a clear sign that with each product, Adobe was growing and that too on a rapid pace. The company, soon, became one of the best software manufacturers over the world. The quality of the work was very high which made the two founders of the company sit and relax, on the ‘top’.

Their next release, ‘Adobe Photoshop’, still stands best in the market. The software is a photo editor, which became the best seller in the market in no time. In the year 1990, the company had more than $170 million in revenue, including the $40 million total income. Within a period of 4 years, the revenue reached $670 million.

Every story has a point of downfall, and in 1998, such point arrived for Adobe, too. In 1998, Hewlett Packard (HP) made a similar PostScript software. Due to which, Adobe saw a reduction in sales by a massive 40 per cent. The company experienced a setback but was quick to react. Soon, it started rebuilding strategies, restructuring plans and started cutting down on employees.

In 1999, for a comeback, Adobe decided to launch a publishing tool, ‘InDesign’, with a risk of a similar tool already running in the market, sold by Quark. So, Adobe was not expecting much from it. However, when released, InDesign did the impossible. The product became a huge success, gaining Adobe more than $ 1 billion as revenues, over the time, reshaping and reviving the company.

Since then, Adobe has not looked back. Some of the software that they have in the market right now, are Adobe Acrobat, Adobe Flash player, Adobe Dreamweaver, Page maker, Adobe Scan, Adobe Premiere Clip, Adobe Illustrator, Adobe Capture CC, Adobe creative cloud, Adobe connect and the ever-lasting Adobe Photoshop, which carries many more versions of it further.

Adobe has also been involved in social welfare activities. The company works to make its employees’ life more and more convenient by creating a healthy work environment. It has given cash grants and many contributions like volunteer support, software training, donated software to a non-profit organization. The company also supports the environmental stewardship.

As of now, Adobe is ranked number 10 by Forbes on the list of ‘Top 100 Digital Companies’. The company has more than $ 7.7 Billion sales in the market and a market cap of $ 119.1 Billion.

Adobe’s story gives us a glimpse of how something unique can create a spark among consumers. Also, that when you are walking on a path, where nothing goes right, it just requires a proper plan to get back on the track. One should never leave the creative ideas in their head, and the story of Adobe shows that and helps us get them out with the versatility of the software they offer.