How Much is Steve Chen Worth?
Probably, you don’t know, who Steve Chan is, but no doubt, you have already dealt with his brain child – YouTube. As you have guessed, the major part of his wealth comes from this profitable internationally popular service. Nowadays Steve Chen net worth is close to $300, 000 million.
In fact, Steve Chen was not the only one, who invented YouTube. He co-founded the site together with his colleagues, a deigner Chad Hurley and technician Jawed Karim.
Idea of creating the site, where users can upload home videos quickly and without any difficulties, belonged to a web-designer Chad Hurley. Later he sparked the interest of his colleagues-engineers Steve Chan and Jawed Karim in the new project. At first YouTube was supposed to be an internet dating site, where the users could upload videos. Thus the person, who wanted to find a couple, could show himself through his home video. But people, who registered there, began to share videos of various kinds – songs, movies, parties, views of their cities etc. That’s why soon YouTube changed the focus of its specialization and became a video-sharing service.
This fresh idea made Steve Chen and his companions multi-millionaires within several years. In 2005 the representatives of reputable companies, such as Sequoia Capital and Time Warner got interested in YouTube. They invested $3 million into the new project, which put the site to the new level and increased Steve Chen earnings.
In 2006 YouTube caught attention of Susan Wojcicki, Google employer and then sister-in-law of Sergey Brin, Google co-founder. She inspired Sergey Brin and Larry Page to get YouTube. That very year Google Inc paid $1, 6 billion to Steve and his partners for the rights for the video-sharing platform. Steve Chen left YouTube with $300 million amount in his pocket.
Currently Steve Chen is busy with his new project “Avos Systems”. Although his career is in its calm phase now, he has enough money not to work at all in his life anymore. But how did he start his career?