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 is 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. Steven Shih Chen celebrating his 37th birth anniversary here are some less known facts about him as YouTube co-founder.
Date of Birth: August 18, 1978
Net Worth: Unknown ($100 Million as on April, 2011)
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 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 February 14th 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 the Chen’s initiative $3.5 million. With a first video on YouTube “Me at the zoo” uploaded by the co-founder Jawed Karim shot at San Diego Zoo uploaded on April 23, 2005. 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 October 16 2006 with 625,366 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 U.S it drives about 80 percent of its traffic from outside U.S. With more and more users adding to the community it has more than 1 billion users generating billions of views for hundreds of millions of hours.
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.