Inspired by Flickr, the three friends working together brought a conception of online video platform into reality. Little does one can imagine today sharing videos without YouTube? No, indeed YouTube has been the inseparable part of routine lives. Though the founders of the pioneer video portal are no more with the project the perception of the venture is been amazing. Today Steven Shih Chen is celebrating his 39th birth anniversary. Here are some interesting but less known facts about him as YouTube co-founder.
Date of Birth: August 18, 1978
Net Worth: Unknown ($300 Million as of 2012)
1. Hailing from Taiwan, his family immigrated to the United States when he was fifteen years. Steve Chen dropped out of University of Illinois at Urbana-Champaign in 2002 to join PayPal with only a few credits left behind to obtain his degree. PayPal served as a common platform for the three co-founders of YouTube to get to know each other.
2. A video capturing a dinner party hosted by Chen in January 2005 triggered a video revolution on the internet. YouTube was born as a result on 14 February 2005 as the friends found it difficult to share the video recorded on a camcorder through e-mail owing to the huge file size. Inspired by Flickr that served as a one stop shop for digital photographs driving motivation from this the trio friends Steve Chen, Chad Hurley, and Jawed Karim established an online portal to upload and share videos.
3. Sequoia Capital a Silicon Valley capital firm agreed to invest Chen’s initiative $3.5 million. With the first video on YouTube “Me at the Zoo” uploaded on 23 April 20015 by the co-founder Jawed Karim, shot at San Diego Zoo. Soon after a year, the portal had 100 million videos in the archives. It is a 19-second video shot by Yakov Lapitsky.
4. YouTube was sold to Google for $1.65 billion on 16 October 2006, with 625,366 shares of Google received by Steve Chen. With a lot of inventions, building and rebuilding things he received a lot of accolades. He was listed one among the “15 Asian Scientists To Watch” by Asian Scientist Magazine on 15 May 2011. Moreover, the business and entertainment communities have featured him among the “Most Influential People” and he received Time magazine’s “Best Invention of the Year” for YouTube in the year 2006.
5. Though YouTube originated from the US, it drives about 80 percent of its traffic from outside the US. There are more than 400 hours of content uploaded to YouTube each minute and nearly one billion hours of content are being watched on YouTube every day (As of February 2017).
6. With ad space being the means for revenue generation YouTube had a tantalizing ad money advantage but the co-founders never wanted the people to watch something not interested. Yielding to the monetary conditions the first ad featured on YouTube was a simple text ad in January 2006 confessing and explaining the shortage of cash. Even today 85% of TrueView in-stream ads on YouTube are skippable.
7. Steve Chen, with 10 investments in 10 companies, now serves Google Ventures leaving behind the AVOS Systems, co-founded by him along with Chad Hurley in 2013. AVOS Systems acquired Delicious from Yahoo! Inc in June 2011.
Steve Chen and Chad Hurley both share their views after a thumping success of YouTube and tell “We feel this is just the tip of the iceberg,” and these words clearly depicts there are lot more things to achieve and innovative ventures in the queue.
The article is a part of the B’day Series where we celebrate the birthday of renowned personalities from across Industries, very frequently. The series includes Entrepreneurs, C-level Executives, innovators or a renewed leaders who moved the industry with his exponential skill set and vision. The intent is to highlight the person’s achievements and touch base the little known, but interesting, part of his life. You can see the list of all earlier celebrated tech personalities, including Mark Zuckerberg, Marissa Mayer, Sean Parker, Andy Rubin, Julian Assange, by following this link or subscribe to your daily newsletter.
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