Mark Zuckerberg, a 36-year-old, self-made billionaire is presently the youngest individual on planet earth to ever be worth at least $100 billion. The leading millennial is the co-founder and chief executive of Facebook, the world’s biggest social media company.
At press time, his current valuation stands at $104 billion, as he is presently the fifth richest individual on earth.
The $780 billion valued social media juggernaut, owners of Instagram, WhatsApp business has over 2.5 billion monthly users. It’s initial public offering about a decade ago was the largest-ever technology IPO at the time.
Zuckerberg’s present wealth valuation can buy 60.2 million troy ounces of gold or about 1.52 billion barrels of crude oil. He currently has about $2.93 billion in cash and the majority of Zuckerberg’s fortune is derived from a 13% stake in Facebook. The 36-year-old billionaire had some day ago revealed plans in giving away about 99% of his Facebook shares over his lifetime, according to a December 2015 SEC filing.
In addition, the centi-billionaire is known for modesty amid his high wealth valuation on the account that he drives an affordable car and wears basic clothes but appears to have a high taste for premium real estate properties.
Zuckerberg and his wife Priscilla Chan have over the years invested billions of dollars into childhood education and medical research.
Meanwhile, the American-based billionaire announced about a day ago that Facebook plans to support people get vaccinated against the COVID-19 virus. He said:
“We’re launching a global campaign to help bring 50 million people a step closer to getting Covid-19 vaccines.
“First, we’re launching a tool that shows you when and where you can get vaccinated and gives you a link to make an appointment. This will be in the Covid Information Center, which we’ll show people right in their News Feed. We’ve already seen people use Facebook to find vaccination appointments, so this should enable millions of more people to do the same.
“Second, we’re bringing the Covid Information Center to Instagram, and we’ll show it to people prominently there too.
“Third, we’re working with health authorities and governments to expand their WhatsApp chatbots to help people register for vaccines. More than 3 billion messages related to Covid have already been sent by governments, non-profits, and international organizations to citizens through official WhatsApp chatbots, so this update will help with the vaccination effort as well.”
TikTok’s parent company, Bytedance now more valuable than Coca Cola and Exxon Mobil
A company founded 9 years ago is currently more valuable than a transgenerational business like Coca Cola and Exxon Mobil.
TikTok’s parent company, ByteDance which was founded in 2012 is now more valuable than the world’s biggest soda brand Coca Cola and energy giants, Exxon Mobil.
ByteDance was founded by Zhang Yiming in 2012 and he went on to launch TikTok, a video sharing application in 2016. Tiktok immediately became a hit on the internet. In less than two years of its launch, it became the most downloaded app in the world according to Forbes.
With over 500m active monthly users, TikTok quickly gained the attention of big venture capitalist firms who invested more in it.
ByteDance was founded in 2012 and is currently more valuable than a company founded in 1892 (Coca Cola) and (1999) Exxon Mobil.
Difference in valuation
According to Bloomberg, ByteDance is currently trading at a valuation of more than $250 billion in the secondary market. The number is set to go up with some investors pegging the valuation at $350 billion.
What you should know
- The above story paints a clear picture of the power of the internet age. A company founded 9 years ago is currently more valuable than a transgenerational business like Coca Cola and Exxon Mobil.
- According to Investopedia a valuation is the analytical process of determining the current (or projected) worth of an asset or a company. An analyst placing a value on a company looks at the business’ management, the composition of its capital structure, the prospect of future earnings, and the market value of its assets.
Squarespace founder is the latest billionaire, set to make $3bn from listing his company
The latest valuation of Squarespace sets Casalena up for a fresh $3billion, making him the latest billionaire in the market.
What is Squarespace?
Squarespace is a platform that helps small businesses and individuals build customized websites and online stores for e-commerce. It is also a hosting company which is based in New York City, United States. It provides software as a service for website building and hosting, and allows users to use pre-built website templates and drag-and-drop elements to create and modify webpages.
Who founded Squarespace?
Squarespace was founded by 38-year-old Anthony Casalena seventeen years ago. The platform was founded in his dorm room at the University of Maryland. For many years, he was the only one running the platform. He launched the platform with a $30,000 seed fund and grants from his university and the platform reached a $1m valuation in 2006.
Squarespace latest valuation and growth
Last month, Squarespace raised a whopping $300m from investors who valued the company at $10bn. The successful outing prompted the decision by the Founder to go public.
The company has grown tremendously since its inception in 2003. The number of subscribers increased nearly 23% in 2020, to 3.7 million users. The company also made a revenue of $620 million which was a 28% increase from the previous year according to Forbes.
Squarespace employees have grown from just the Founder to 1200 employees across the United States and Ireland.
Anthony Casalena’s new net worth
Following the latest valuation of his company at $10bn, Anthony Casalena is set to become a billionaire. According to Forbes Squarespace’s SEC filings revealed that he has a 33% stake in the company.
The latest valuation of his company sets him up for a fresh $3bn making him the latest billionaire in the market.
What you should know
Squarespace is listing its company in the market using direct listing. A direct listing is a process by which a company can go public by selling existing shares instead of offering new ones.
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