You’re probably not surprised to hear that Uber is extremely valuable.
Garrett Camp and Travis Kalanick allegedly invested $220,000 in startup money when they established the company in 2009.
It wasn’t until the next year, that First Round Capital gave Uber $1.3 million in more substantial capital.
By 2011, venture capital firm Benchmark had contributed $11 million to Kalanick’s business.
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Uber’s value has skyrocketed to an astounding $141.52 billion as of July of this year, according to Companies Market Cap—a long cry from its modest beginnings.
According to estimates from this month, Camp is said to control 67,270,464 shares, or 3.22 percent, of Uber.
Wall Street Zen estimates that this is valued at approximately $4.53 billion.
It is rumored that Camp sold a sizable portion of stock in 2019 for an astounding $35 million.
In November 2019, he sold 1.27 million Uber shares, with an average selling price of $27.75 per share.
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Based on the current market conditions as of July 23, Uber’s shares are trading at $67.73 a share. This implies that if Camp had persisted a little bit longer, he could have profited over $86 million.
Even though Camp has had enormous success with Uber, this is not the 45-year-old’s first startup. In 2001, Camp founded his first business, the web discovery tool StumbleUpon.
In 2011, Camp recounted to The New York Times, “I started our company in Calgary with three friends while in graduate school.”
“In my opinion, StumbleUpon offers a customized Internet exploration experience. Compared to what you would get from a standard search engine, the results are more relevant to your interests.
“If you choose a topic on our site that you’re interested in, such as art, Web sites related to art appear, as if you’re leafing through an art magazine.”
“I’m interested in websites that assist people in finding information and filtering what’s available,” he continued. There is too much information on the Internet for one person to keep up with.”
Six years after its founding, Camp advised eBay to purchase StumbleUpon for $75 million.
Since then, the business has changed its name to Mix, and he remained its chairman as of last year.
Additionally, Camp was a founding partner of Expa, a company incubator.
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