Shawn Fanning Net Worth | Celebrity Net Worth

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What’s Shawn Fanning’s Net Worth?

Shawn Fanning is an American pc programmer, serial entrepreneur and angel investor who has a net worth of $70 million {dollars}. Shawn Fanning might be greatest identified for creating Napster, the file-sharing platform that was extremely popular across the flip of the century. Since then, he has invested in a wide range of different tech start-up firms, most notably Uber.

Early Life

Shawn Fanning was born on November 22, 1980, in Brockton, Massachusetts. On the age of 14 in 1994, Shawn Fanning met future collaborator Sean Parker over the web. The 2 initially bonded in over subjects like hacking and physics after which met in actual life after Fanning began attending Northeastern College.

In 1998, whereas he was attending Northeastern College, Shawn wrote the code for what turned one of many first well-liked peer-to-peer (“P2P”) file sharing platforms. He referred to as it Napster. Parker raised the preliminary funds to construct this system.

Napster

As soon as a preliminary beta program turned out there on June 1, 1999, lots of of faculty college students at Northeastern have been up and buying and selling music furiously. Shortly after, Shawn and Sean moved the corporate from Hull, Massachusetts to a extra spacious location in San Mateo, California and even employed new staff to enhance on the Napster Program. Napster was so well-liked that earned him a spot on the duvet of Time journal. Tens of thousands and thousands of customers have been quickly downloading all types of recordsdata by this system.

Nevertheless, its success was not with out trials and Napster was in the end sued into oblivion. The Recording Business Affiliation of America vehemently opposed the platform, as did quite a lot of bands and performing teams. Although it was one of many fastest-growing enterprise of all time, it was finally shut down resulting from large lawsuits. Nevertheless, regardless of its fast demise, Napster had an enduring impression on the music business, and a few even credit score it with being one of many early inspirations for providers like iTunes. Fanning’s success with Napster helped him land on the record of prime 100 innovators on the earth below age 35 by the MIT Expertise Evaluate.

Chris Hondros/ Getty Pictures

Later Enterprise

After Napster, Sean Parker went on to be an early advisor at Fb and finally earned a multi-billion private fortune.

After Napster, Shawn Fanning joined and invested in quite a lot of early-stage expertise startup firms, together with Snocap, Rapture and Path. He co-founded Snocap with Jordan Mendelson who had beforehand labored as Napster’s Chief Architect with funding from investor Ron Conway in 2003.

Inside a number of years, the corporate had laid off over half of its workforce. Fanning left Snocap earlier than Snocap formally combusted, occurring to develop Rupture in 2006. His timing was good, as Snocap was bought in a hearth sale in 2008.

Shawn formally turned CEO of Rupture on October 2, 2007. Rupture’s future appeared vivid because it was quickly acquired by Digital Arts for $15 million, however Fanning’s group at Digital Arts was sacked in November 2009 in a spherical of layoffs. Solely few months later, he began a brand new firm referred to as Path.com.

Path operated as a social community platform targeted on photograph sharing and messaging. A yr later, in 2011, he once more joined Sean Parker to discovered Airtime.com, a bunch video chat app. Nevertheless, the launch of the corporate was disastrous. Regardless of the star-studded occasion, the app saved crashing repeatedly throughout its June 2012 public launch occasion.

A yr later, Fanning began the corporate Helium Methods together with Amir Haleem and Sean Carey. Since then, he has continued investing in different tasks, primarily nonetheless specializing in the tech and start-up area.

Uber Funding

Uber launched in San Francisco in June 2010. It was an enormous hit with prospects, however traders weren’t precisely beating down Uber’s doorways to spend money on the fledgling startup on the time. In late summer time 2010, Uber raised a $1.25 million seed spherical from First Spherical Capital, investor Chris Sacca, and Shawn Fanning. Shawn ponied up $25,000. Quick ahead to Might 2019 and Shawn’s stake, assuming he hasn’t bought any of his shares, was price $125 million after Uber’s IPO.

Different Public Appearances

Resulting from Napster’s success, Fanning has been featured in quite a lot of movies and media. He was a presenter on the 2000 MTV Video Music Awards and wore as shirt that mentioned “Metallica v. Napster, Inc” representing the lawsuits that Napster was the embroiled in. He additionally has made a cameo look as himself in “The Italian Job” through which he’s accused of stealing the thought from Seth Inexperienced’s character whereas Inexperienced is napping. He additionally appeared in a 2008 Volkswagen industrial that references his previous with file-sharing platforms and was the topic of the 2013 documentary, “Downloaded.”

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