Jan Koum

Co-founded WhatsApp

Net worth: US$9.7 billion (May 2016)

Jan Koum (born February 24, 1976) is an American internet inventor and computer programmer. He is the CEOand co-founder of WhatsApp ,a mobile messaging application which was acquired by Facebook Inc. in February 2014 for US$19 billion.

In 2014, he entered the Forbes list of the 400 richest Americans at position 62, with an estimated worth of more than seven and half billion dollars. He was the highest-ranked newcomer to the list that year.

Career

· On his job, Jan Kuom was assigned to the new search engine Yahoo to inspect security levels at the company’s advertising system. While working on this, he became acquainted with Brian Acton, one of Yahoo’s earliest employees. The two men shared many similarities and struck up an immediate rapport as both of them had a similar no-nonsense approach to working.

· After a few months Koum joined Yahoo as an infrastructure engineer, while still attending San Jose State University. A few days after his joining Yahoo suffered a systems breakdown, and Koum—who was attending a class at that time—was immediately called to help with the problem. At this juncture Koum realized that he would have to choose either the university or Yahoo, and he chose the latter.

· Koum and Acton worked together at Yahoo for nine years. During this time they not only became good friends, but also realized their mutual interest in the fast growing social media world. However, Yahoo did not offer them the opportunity to explore social media, so they quit their jobs in 2007 to explore newer avenues.

· Both Koum and Acton took a year off and travelled around South America. On their return to the US, both of them individually applied for jobs at Facebook and Twitter, and both were rejected by both companies.

· In 2009, Koum bought a new iPhone. On visiting one of the first App Stores to open, he realized the potential offered by the market for iPhone compatible applications. This gave him the idea for an application for low-cost convenient communication.

· Excited with the idea, he roped in Acton and the two men incorporated their new company—called WhatsApp Inc.—on Koum’s birthday, February 24, 2009. One of their fundamental principles was that their company would never accept any form of advertising revenue.

· The duo launched the WhatsApp Messenger in early 2010. The early messenger kept crashing and the men faced many challenges in promoting the application. Frustrated after a few months of trying, Koum was on the verge of giving up when Acton convinced him to give it some more time.

· There were not many other instant messengers at that time, and gradually WhatsApp became popular with the users. The rising popularity of the app enabled the founders to acquire additional venture capital.

· The user base of WhatsApp grew steadily over the months and by February 2013, it had around 200 million active users. The rising popularity of WhatsApp grabbed the attention of the social media giant Facebook which acquired WhatsApp for US$ 19 billion in 2014. By 2016 WhatsApp became the most popular messaging application with a user base of one billion.

Major Work

· Jan Koum, along with Brian Acton launched the WhatsApp Messenger (developed by WhatsApp Inc.) which was initially released in 2010. The instant messaging client for smartphones became the most popular messaging application in 2016. It was acquired by Facebook Inc. in 2014 for US$19 billion.

Awards & Achievements

• Jan Koum and Brian Acton were the runners-up at the 8th Annual Crunchies Awards in 2015 in the category Founder of the Year.