Eric Emerson Schmidt (born April 27, 1955) is an American businessman and software engineer. He is known for being the Executive Chairman of Google from 2001 to 2015 and Alphabet Inc. from 2015 to 2017. In 2017, Forbes ranked Schmidt as the 119th-richest person in the world, with an estimated wealth of US$11.1 billion.
As an intern at Bell Labs, Schmidt did a complete re-write of Lex, a software program to generate lexical analysers for the UNIX computer operating system. From 1997 to 2001, he was Chief Executive Officer (CEO) of Novell. From 2001 to 2011, Schmidt served as the CEO of Google. He has served on various other boards in academia and industry, including the Boards of Trustees for Carnegie Mellon University, Apple, Princeton University, and Mayo Clinic.
Eric Emerson Schmidt
April 27, 1955
Falls Church, Virginia, U.S.
|Residence||Atherton, California, U.S.|
|Alma mater||Princeton University|
University of California, Berkeley
|Salary||US$1.25 million (2015, base salary)|
US$108 million aggregate (with bonuses, stock options)
|Net worth||US$12.6 billion (May 2017)|
Wendy Boyle (m. 1980)
Schmidt was born in Falls Church, Virginia, and grew up in Falls Church and Blacksburg, Virginia. He is one of three sons of Eleanor, who had a master's degree in psychology, and Wilson Emerson Schmidt, a professor of international economics at Virginia Tech and Johns Hopkins University, who worked at the U.S. Treasury Department during the Nixon Administration. Schmidt spent part of his childhood in Italy as a result of his father's work and has stated that it had changed his outlook.
Schmidt graduated from Yorktown High School in the Yorktown neighborhood of Arlington County, Virginia, in 1972, after earning eight varsity letter awards in long-distance running. He attended Princeton University, starting as an architecture major and switching to electrical engineering, earning a B.S.E. degree in 1976. From 1976 to 1980, Schmidt stayed at the International House Berkeley, where he met his future wife, Wendy Boyle. In 1979, at the University of California, Berkeley, Schmidt then earned an M.S. degree for designing and implementing a network (Berknet) linking the campus computer center with the CS and EECS departments. There, he also earned a Ph.D. degree in 1982 in EECS, with a dissertation about the problems of managing distributed software development and tools for solving these problems.
Early in his career, Schmidt held a series of technical positions with IT companies including Byzromotti Design, Bell Labs (in research and development), Zilog, and Palo Alto Research Center (PARC).
In 1983, Schmidt joined Sun Microsystems as its first software manager. He rose to become director of software engineering, vice president and general manager of the software products division, vice president of the general systems group, and president of Sun Technology Enterprises.
During his time at Sun, he was the target of two notable April Fool's Day pranks. In the first, his office was taken apart and rebuilt on a platform in the middle of a pond, complete with a working phone. The next year, a working Volkswagen Beetle was taken apart and re-assembled in his office.
In April 1997, Schmidt became the CEO and chairman of the board of Novell. He presided over a period of decline at Novell where its IPX protocol was being replaced by open TCP/IP products, while at the same time Microsoft was shipping free TCP/IP stacks in Windows 95, making Novell much less profitable. In 2001, he departed after the acquisition of Cambridge Technology Partners.
Google founders Larry Page and Sergey Brin interviewed Schmidt. Impressed by him, they recruited Schmidt to run their company in 2001 under the guidance of venture capitalists John Doerr and Michael Moritz.
In March 2001, Schmidt joined Google's board of directors as chairman, and became the company's CEO in August 2001. At Google, Schmidt shared responsibility for Google's daily operations with founders Page and Brin. Prior to the Google initial public offering, Schmidt had responsibilities typically assigned to the CEO of a public company and focused on the management of the vice presidents and the sales organization. According to Google, Schmidt's job responsibilities included "building the corporate infrastructure needed to maintain Google's rapid growth as a company and on ensuring that quality remains high while the product development cycle times are kept to a minimum."
Upon being hired at Google, Eric Schmidt was paid a salary of $250,000 and an annual performance bonus. He was granted 14,331,703 shares of Class B common stock at $0.30 per share and 426,892 shares of Series C preferred stock at purchase price of $2.34.
In 2004, Schmidt and the Google founders agreed to a base salary of US$1 (which continued through 2010) with other compensation of $557,465 in 2006, $508,763 in 2008, and $243,661 in 2009. He did not receive any additional stock or options in 2009 or 2010. Most of his compensation was for "personal security" and charters of private aircraft.
Schmidt is one of a few people who became billionaires (in United States dollars) based on stock options received as employees in corporations of which they were neither the founders nor relatives of the founders.
On 20 January 2011, Google announced that Schmidt would step down as the CEO of Google but continue as the executive chairman of the company and act as an adviser to co-founders Page and Brin. Google gave him a $100 million equity award in 2011 when he stepped down as CEO. On 4 April 2011, Page replaced Schmidt as the CEO.
On December 21, 2017, Schmidt announced he would be stepping down as the executive chairman of Alphabet. Schmidt stated that “Larry, Sergey, Sundar and I all believe that the time is right in Alphabet’s evolution for this transition,”
While working at Google, Schmidt was involved in activities that later became the subject of the High-Tech Employee Antitrust Litigation case that resulted in a settlement of $415 million paid by Adobe, Apple, Google and Intel to employees. In one incident, after receiving a complaint from Steve Jobs of Apple, Schmidt sent an email to Google's HR department saying; "I believe we have a policy of no recruiting from Apple and this is a direct inbound request. Can you get this stopped and let me know why this is happening? I will need to send a response back to Apple quickly so please let me know as soon as you can. Thanks Eric". Schmidt's email led to a recruiter for Google being "terminated within the hour" for not having adhered to the illegal scheme. Under Schmidt, there was a "Do Not Call list" of companies Google would avoid recruiting from. According to a court filing, another email exchange shows Google's human resources director asking Schmidt about sharing its no-cold call agreements with competitors. Schmidt responded that he preferred it be shared "verbally, since I don't want to create a paper trail over which we can be sued later?"
Schmidt sat on the boards of trustees of Carnegie Mellon University and Princeton University. He taught at Stanford Graduate School of Business in the 2000s. Schmidt serves on the boards of the Institute for Advanced Study in Princeton, the Khan Academy, and The Economist.
Founded in 2010 by Schmidt and Dror Berman, Innovation Endeavors is an early-stage venture capital. The fund, based in Palo Alto, California, invested companies such as Mashape, Uber, Quixey, Gogobot, BillGuard, and Formlabs.
Schmidt was an informal advisor and major donor to Barack Obama's 2008 presidential campaign, and began campaigning the week of October 19, 2008, on behalf of the candidate. He was mentioned as a possible candidate for the Chief Technology Officer position, which Obama created in his administration, and Obama considered him for Commerce Secretary. After Obama won in 2008, Schmidt became a member of President Obama's transition advisory board and then a member of the United States President's Council of Advisors on Science and Technology (PCAST). Schmidt has served on Google's government relations team.
Schmidt has proposed that the easiest way to solve all of the domestic problems of the United States at once is by a stimulus program that rewards renewable energy and, over time, attempts to replace fossil fuels with renewable energy.
Ash Carter appointed Schmidt as chairman of the DoD Innovation Advisory Board announced March 2, 2016. It will be modeled like the Defense Business Board and will facilitate the Pentagon at becoming more innovative and adaptive.
Schmidt is an investor in The Groundwork, a start-up company associated with Hillary Clinton's 2016 presidential campaign. For example, it charged the campaign $177,000 in the second quarter of 2015. By May 2016, the campaign had spent $500,000 on it.
The Schmidt Family Foundation's subsidiaries include ReMain Nantucket and the Marine Science and Technology Foundation; its main charitable program is the 11th Hour Project. The foundation has also awarded grants to the Natural Resources Defense Council and the Energy Foundation.
The Schmidts, working with Heart Howerton, a San Francisco architectural firm that specializes in large-scale land use, have inaugurated several projects on the island of Nantucket that seek to sustain the unique character of the island and to minimize the impact of seasonal visitation on the island's core community.
Mrs. Schmidt offered the prize purse of the Wendy Schmidt Oil Cleanup X CHALLENGE, a challenge award for the efficient capturing of crude oil from seawater motivated by the Deepwater Horizon oil spill.
In 2009, Eric and Wendy Schmidt endowed the Schmidt Transformative Technology Fund at Princeton University with $25 million. The Fund's purpose is to support cutting edge research and technology in the natural sciences and engineering, encouraging collaboration across disciplines. It awarded $1.2 million in grants in 2010 and $1.7 million in grants in 2012.
Created in partnership with the Rhodes Trust, the Schmidt Science Fellows program is part of a $100 million commitment to drive scientific leadership and interdisciplinary research. The program features a Global Meeting Series including exclusive sessions at world-leading institutions including Oxford, Cambridge, MIT, and Harvard. Fellows receive a stipend to participate in postdoctoral study which differs from their existing expertise.
Schmidt has claimed that Google's use of artificial distinctions to avoid paying billions of pounds in corporation tax owed by its UK operations is "capitalism" and that he was "very proud of it".
On 16 May 2013 Margaret Hodge MP, the chair of the United Kingdom Public Accounts Committee accused Google of being "calculated and unethical" over its use of artificial distinctions to avoid paying billions of pounds in Corporation tax owed by its UK operations. Google was accused by the committee, which represents the interests of all UK taxpayers, of being "evil" for not paying its "fair amount of tax".
In 2015, the UK Government introduced a new law intended to penalise Google and other large multinational corporations' artificial tax avoidance. Google is accused of avoiding paying tens of billions of dollars of tax through a convoluted scheme of inter-company licensing agreements and transfers to tax havens. Schmidt was also criticised for his inaccurate use of the term 'capitalism' to describe billions of dollars being transferred into tax havens where no economic activity was actually taking place.
During an interview aired on December 3, 2009, on the CNBC documentary "Inside the Mind of Google," Schmidt was asked, "People are treating Google like their most trusted friend. Should they be?" He replied: "I think judgment matters. If you have something that you don't want anyone to know, maybe you shouldn't be doing it in the first place. But if you really need that kind of privacy, the reality is that search engines, including Google, do retain this information for some time. And it's important, for example, that we are all subject in the United States to the Patriot Act. It is possible that information could be made available to the authorities."
At the Techonomy conference on August 4, 2010, Schmidt expressed that technology is good. And he said that the only way to manage the challenges is "much greater transparency and no anonymity." Schmidt also stated that in an era of asymmetric threats, "true anonymity is too dangerous." However, at the 2013 Hay Festival, Schmidt expressed concern that sharing of personal information was too rampant and could have a negative effect, particularly on teenagers, stating that "we have never had a generation with a full photographic, digital record of what they did", declaring that "We have a point at which we [Google] forget information we know about you because it is the right thing to do. There are situations in life that it's better that they don't exist."
In 2013, Schmidt stated that the government surveillance in the United States was the "nature of our society" and that he was not going to "pass judgment on that". However, on the revelation that the NSA has been secretly spying on Google's data centers worldwide, he called the practice "outrageous" and criticized the NSA's collection of Americans phone records.
In 2005, Google blacklisted CNET reporters from talking to Google employees for one year, until July 2006, after CNET published personal information on Schmidt, including his political donations, hobbies, salary, and neighborhood, that had been obtained through Google searches.
In August 2010, Schmidt clarified his company's views on network neutrality: "I want to be clear what we mean by Net neutrality: What we mean is if you have one data type like video, you don't discriminate against one person's video in favor of another. But it's okay to discriminate across different types. So you could prioritize voice over video. And there is general agreement with Verizon and Google on that issue."
In January 2013, Schmidt and Jared Cohen, director of Google Ideas visited North Korea along with former New Mexico governor Bill Richardson. The trip was highly publicized and controversial due to the ongoing tension between North Korea and the United States. On August 10, 2013, North Korea announced an indigenous smartphone, named Arirang, that may be using the Google Android operating system.
In March 2013, Schmidt visited Myanmar, which had been ruled by a military junta for decades and is transitioning to a democracy. During his visit, Schmidt spoke in favor of free and open Internet use in the country, and was scheduled to meet with the country's president.
In 2013, Schmidt and Jared Cohen, director of the Google Ideas think tank, published The New Digital Age: Reshaping the Future of People, Nations and Business, which discusses the geopolitical implications of increasingly widespread Internet use and access to information. The book was inspired by an essay in Foreign Affairs magazine the two co-wrote in 2010. He also wrote the preface to The Startup Game: Inside the Partnership between Venture Capitalists and Entrepreneurs, by William H. Draper, III.
In 2014, Schmidt co-authored the New York Times best-selling book How Google Works with Jonathan Rosenberg, former Senior Vice President of Products at Google and current advisor to Google CEO Larry Page, and Alan Eagle. The book is a collection of the business management lessons learned over the course of Schmidt and Rosenberg's time leading Google. In his book, Eric Schmidt argues that successful companies in the technology-driven internet age should attract smart and creative employees and create an environment where they can thrive. He argues that the traditional business rules that make a company successful have changed; companies should maximize freedom and speed, and decision-making should not lie in the hands of the few. Schmidt also emphasizes that individuals and small teams can have a massive impact on innovation.
Dating back to early 1990s and dubbed "Schmidt's Law" by George Gilder when Schmidt predicted that the network will become the computer. Schmidt's Law states: "When the network becomes as fast as the backplane of your computer, the computer hollows out, its components dispersing across the Web, its value migrating to search and sort functions."
Schmidt was on the list of ARTnews's 200 top art collectors in 2008.
He is a member of the Bilderberg Group and has attended the annual Bilderberg conferences every year since 2007 (except for 2009). He also has a listed membership with the Trilateral Commission. He is a member of the International Advisory Board at the Blavatnik School of Government, University of Oxford.
In June 1980, Schmidt married Wendy Susan Boyle (born 1955 in Short Hills, New Jersey). They lived in Atherton, California, in the 1990s. They have a daughter, Sophie, and had another, Alison, who died in 2017. The two separated in 2011.
In April 2015, Schmidt delivered the commencement address at Virginia Tech, located in Schmidt's childhood home of Blacksburg, Virginia. This came on the heels of Schmidt making a two million dollar donation to Virginia Tech's College of Engineering. Schmidt's philanthropy is the result of his long standing friendship with Virginia Tech's former president Paul Torgersen. His donation funded the Paul and Dorothea Torgersen Dean's Chair in Engineering.
Google executives Eric Schmidt and Jared Cohen recently returned from a highly publicized trip to North Korea. They discuss the role of the Internet in more repressive countries.
The Korean Central News Agency's Aug. 10 report said the factory began manufacturing smartphones 'a few days ago' ... Kim Mun-gu, a manager at a South Korean mobile phone company, said the Arirang smartphone appears to be using the Android operating system. He said the photos aren't convincing as proof the North is manufacturing the phones
Larry Page (first era)
| Chief Executive Officer
Larry Page (second era)
| Executive Chairman
The 2001 North Dakota Fighting Sioux football team represented University of North Dakota in the 2001 NCAA Division II football season. The Fighting Sioux won the NCAA Division II national championship, the team's first. Their head coach was Dale Lennon, a former fullback for the school. The team's quarterback was junior Kelby Klosterman, who threw thirty-two touchdowns and seven interceptions. The leading rusher was Jed Perkerewicz, who rushed for almost eight-hundred yards and seven touchdowns. Three receivers had at least eight touchdowns; Dan Graf had ten, Jesse Smith had nine, and Luke Schleusner had eight. Mac Schneider, an American attorney and politician running to represent North Dakota’s at-large congressional district in the U.S. House of Representatives, was a starting offensive lineman for the team and served as team captain his senior year. The defense had a plus nineteen turnover margin and allowed fewer than thirteen points a game and just three rushing touchdowns all season. Eric Schmidt led the defense with ten sacks.Abu Dhabi Media Summit
The Abu Dhabi Media Summit is an annual three-day international news media summit held in Abu Dhabi, United Arab Emirates, dealing with the transition to digital technology in the Middle East, the Indian Subcontinent, East Asia, and China. It was first held from 18 to 20 March 2010. The summit is held under the Patronage of Sheikh Mohammed Bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates Armed Forces.
The Media Summit deals with globalization and with creativity and disruption. Speakers have included the inventor of the World Wide Web, Sir Tim Berners-Lee, Chairman of Walt Disney International Andy Bird, President and CEO of Discovery Networks International Mark Hollinger, Bill Gates, Rupert Murdoch, James Cameron and Eric Schmidt.Summits include public sessions, closed-door discussions and private conversations, bringing together industry leaders from developed and emerging areas. Industry sectors discussed include mobile, broadband, television, print, entertainment, news, music, advertising and marketing, venture capital and equity finance.
During the inaugural summit in March 10,2010 Eric Schmidt and Rupert Murdoch gave speeches on the theme of “The evolution of media and content platforms”. In 2011 film director James Cameron spoke about story-telling under the theme of “content and creativity”. The third meeting took place in October 2012 under the theme “redefining the digital frontier”, where Bill Gates gave the opening speech. The 2013 summit from October 22 to 24 had the theme “Leveraging the digital age”, with sponsors including Du, Sky News Arabia, the Telecommunications Regulatory Authority, Etihad Airways and Mercedes-Benz.
The 2014 Abu Dhabi Media Summit will take place from 18–20 November 2014 at Rosewood Hotel, Al Maryah Island in Abu Dhabi. The theme of the summit will be 'Driving & Sustaining Future Media in MENA and Beyond'Artsy (website)
Artsy is a free online platform for collecting and discovering art. Artsy's search engine and database draw connections and map relationships among works of art. Led by Carter Cleveland, computer science graduate from Princeton, and Sebastian Cwilich, former executive of Christie's and Haunch of Venison director, Artsy aims to “expand the art market to support more artists and art in the world."Artsy is backed by a group of investors, including Eric Schmidt, Wendi Murdoch, Dasha Zhukova, Thrive Capital, Jack Dorsey, Bob Pittman, Rich Barton, Jim Breyer, Keith Rabois, David Tisch, Chris Dixon, Peter Thiel, Charlie Cheever, Dave Morin, and David Kidder. John Elderfield, former chief curator at New York’s Museum of Modern Art serves as Artsy’s senior advisor and Larry Gagosian and Marc Glimcher, president of Pace Gallery, are advisors.Atavist
Atavist is a multimedia publishing platform. It was founded by Jefferson Rabb, Evan Ratliff, and Nicholas Thompson. In the spring of 2015, they released their free publishing platform, built with Google's Polymer. Fast Company wrote that the new system "make[s] it near-painless to create and sell beautifully designed long-form content across multiple platforms." Early investors in the company include IAC, Eric Schmidt, and the Founders Fund.In June 2018, Atavist announced that they were being acquired by Automattic.Big Four tech companies
The Big Four is a name used to describe the four multinational technology companies Google, Amazon, Facebook, and Apple. The term was coined by Eric Schmidt, Phil Simon, and Scott Galloway as driving a large amount of growth in technology. The Big Four are sometimes referred to as GAFA, an acronym for Google, Amazon, Facebook, and Apple. The term Big Five is sometimes used to include Microsoft, another major technology company.Civis Analytics
Civis Analytics is an Eric Schmidt-backed data science software and consultancy company founded by Dan Wagner in 2013.Wagner served as the Chief Analytics Officer for Barack Obama's 2012 re-election campaign.Civis Analytics helps businesses "understand their data, use that data to make predictions, and get recommendations on what steps to take next". Civis works with Fortune 500 companies and the country's largest organizations, including Verizon, Airbnb, Discovery, FEMA, Boeing and the American Red Cross.Criticism of Google
Criticism of Google includes concern for tax avoidance, misuse and manipulation of search results, its use of others' intellectual property, concerns that its compilation of data may violate people's privacy and collaboration with Google Earth by the military to spy on us , censorship of search results and content, and the energy consumption of its servers as well as concerns over traditional business issues such as monopoly, restraint of trade, antitrust, "idea borrowing", and being an "Ideological Echo Chamber".
Alphabet Inc. is an American multinational public corporation invested in Internet search, cloud computing, and advertising technologies. Google hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising through its AdWords program.Google's stated mission is "to organize the world's information and make it universally accessible and useful"; this mission, and the means used to accomplish it, have raised concerns among the company's critics. Much of the criticism pertains to issues that have not yet been addressed by cyber law.Defense Innovation Advisory Board
The Defense Innovation Board is an organization set up in 2016 to bring the technological innovation and best practice of Silicon Valley to the U.S. Military. The board will have up to a dozen members selected by the chair (Eric Schmidt) in consultation with the US Secretary of Defense.Ash Carter, US Secretary of Defense, announced that the board, modeled on the Defense Business Board would facilitate the Pentagon becoming more innovative and adaptive.Joshua Marcuse is the inaugural and current Executive Director of the Defense Innovation Board.
The board traveled throughout the world during 2016 seeking innovative ideas from the servicemen involved in military operations to improve processes in use in all theaters of operation.Don't be evil
"Don't be evil" was a motto used within Google's corporate code of conduct.
Following Google's corporate restructuring under the conglomerate Alphabet Inc. in October 2015, Alphabet took "Do the right thing" as its motto, also forming the opening of its corporate code of conduct. The original motto was retained in Google's code of conduct, now a subsidiary of Alphabet. In April 2018, the motto was removed from the code of conduct's preface and retained in its last sentence.Eric Schmidt (disambiguation)
Eric Schmidt (born 1955) is an American businessman and Executive Chairman of Alphabet, Inc.
Eric Schmidt may also refer to:
Eric Schmidt (American football) for 2001 North Dakota Fighting Sioux football team
Eric Schmidt (handballer) from 2013–14 EHF Champions League qualifyingLarry Page
Lawrence Edward Page (born March 26, 1973) is an American computer scientist and Internet entrepreneur who co-founded Google with Sergey Brin.Page is the chief executive officer of Alphabet Inc. (Google's parent company). After stepping aside as Google CEO in August 2001, in favor of Eric Schmidt, he re-assumed the role in April 2011. He announced his intention to step aside a second time in July 2015, to become CEO of Alphabet, under which Google's assets would be reorganized. Under Page, Alphabet is seeking to deliver major advancements in a variety of industries.As of December 2018, Page was the 8th-richest person in the world, with a net worth of $51.3 billion.Page is the inventor of PageRank, a well-known search ranking algorithm for Google. Page received the Marconi Prize in 2004 with Brin.Lex (software)
Lex is a computer program that generates lexical analyzers ("scanners" or "lexers").Lex is commonly used with the yacc parser generator. Lex, originally written by Mike Lesk and Eric Schmidt and described in 1975, is the standard lexical analyzer generator on many Unix systems, and an equivalent tool is specified as part of the POSIX standard.Lex reads an input stream specifying the lexical analyzer and outputs source code implementing the lexer in the C programming language.New America (organization)
New America, formerly the New America Foundation, is a non-partisan think tank in the United States. It focuses on a range of public policy issues, including national security studies, technology, asset building, health, gender, energy, education, and the economy. The organization is based in Washington, D.C., with additional offices in New York City and Oakland.
Ted Halstead served as New America's founding President and CEO from 1999 to 2007. Steve Coll served as New America's second President. In 2013, Anne-Marie Slaughter became President of New America, replacing Steve Coll. Google's Executive Chairman, Eric Schmidt, is the chairman of the foundation's board of directors.Although the organization describes itself as "non-partisan", its policy views have been characterized as liberal or left-leaning. The New America Foundation has been criticized for its perceived close ties with Google, including its decision to fire an employee who criticized Google as a monopoly. The organization, however, has denied improper influence.OrderAhead
OrderAhead was an on-demand logistics company that enabled people to order pickup and delivery take-out food from local merchants. OrderAhead was a Y Combinator Alum with a list of investors that include Adam D'Angelo (Founder of Quora, former CTO Facebook), Eric Schmidt (Chairman of Google, former CEO of Google), August Capital, Matrix Partners, and Menlo Ventures.OrderAhead was founded in August 2011 by Jeff Byun, and Henry Lee; who resigned in September 2013.The OrderAhead app initially offered customers a way to preorder Philz Coffee. Currently, OrderAhead operates in 5 major cities in the US and is headquartered in San Francisco, California.As of July 9th, 2016 OrderAhead no longer offers delivery. Pickup options are still available on the platform, however. The service was later acquired by Square Inc. and now redirects to Caviar, the company's meal delivery service.Rajen Sheth
Rajen Sheth is an executive at Google, where he currently runs product management at cloud AI and machine learning team. The idea of an enterprise version Google's email service Gmail was pitched by Rajen in a meeting with CEO Eric Schmidt in 2004. Schmidt initially rejected the proposal, arguing that the division should focus on web search, but the suggestion was later accepted. Sheth is known as "father of Google Apps", and is responsible for development of Chrome and Chrome OS for Business.TAPP TV
TAPP TV ("TAPP" stands for TV APP) is a subscription-based online video content network, home to individual "channels" built around public personalities with large followings. It was founded in 2013 by Jeff Gaspin, former chairman of NBC Universal Television, and Jonathan Klein, former president of CNN US. Michael Greer, former CTO of the Onion, is TAPP's co-founder and CTO.
TAPP TV subscribers pay $9.95 per month or $99.95 per year to receive daily video content from subscribed video channels. Each channel is sold separately.
TAPP TV's investors include Discovery Communications and Demarest Films, as well as individual investors including Eric Schmidt, Executive Chairman of Google, and investment bankers Ken Moelis, Peter Ezersky and Michael Huber. In addition to Gaspin and Klein, the TAPP TV board includes Sean Atkins, senior vice president and general manager, Digital, at Discovery Communications.Upstart (company)
Upstart is an online lending marketplace that provides personal loans using non-traditional variables, such as education and employment, to predict creditworthiness.
The founding team includes Dave Girouard, former VP of Apps for Google, Paul Gu, a Thiel Fellow, and Anna Counselman, former Manager of Global Enterprise Customer Programs and Gmail Consumer Operations at Google.Upstart first launched in April 2012 with an Income Share Agreement (ISA) product, which enabled individuals to raise money by contracting to share a percent of their future income. In May 2014, Upstart pivoted away from this product and toward the personal loan marketplace. With this pivot, Upstart began offering a traditional 3-year loan, and has since expanded to offer a 5-year loan product as well.
Upstart developed an income and default prediction model to determine creditworthiness of a potential borrower. This means that in addition to traditional underwriting criteria—FICO score, credit report, and income—the Upstart underwriting considers academic variables—colleges attended, area of study, GPA, and standardized test scores—and work history to develop a statistical model of the borrower's financial capacity and personal propensity to repay.Upstart raised a $1.75M seed round from First Round Capital, Kleiner Perkins Caufield & Byers, New Enterprise Associates, Google Ventures, Crunchfund and Mark Cuban. They subsequently raised a series A round of $5.9M which included new investors Eric Schmidt (Google Executive Chairman), Marc Benioff, Khosla Ventures, Founders Fund, and Collaborative Fund. Jessica Jackley and Bob Kerrey serve as advisors to the company. Most recently, Upstart raised a series C round of $35M from Third Point Capital in June 2015.Wendy Schmidt
Wendy Schmidt (born Wendy Susan Boyle; 1955) is an American businesswoman and philanthropist. She is the wife of Eric Schmidt, the former Executive Chairman of Google, whom she met in graduate school at the University of California, Berkeley. She is the president of the Schmidt Family Foundation.WibiData
WibiData was a software company that developed big data applications for enterprises to personalize their customer experiences. It developed applications based on open-source technologies Apache Hadoop, Apache Cassandra, Apache HBase, Apache Avro and the Kiji Project. Wibidata was founded under the name Odiago in 2010 by Christophe Bisciglia, Aaron Kimball, and Garrett Wu. Based in San Francisco, Calif., WibiData was backed by investors such as Canaan Partners, New Enterprise Associates, SV Angel, and Eric Schmidt.In 2014 WibiData laid off much of their staff in order to "reorienting itself". As of March 2015, the WibiData website is no longer active.