An Indian-American business leader and entrepreneur, Naveen K. Jain (born September 6, 1959) is the founder and former chief executive officer (CEO) of Info Space. Before the dot-com bust and a string of litigation involving Info Space founder Jain,
Info Space was one of the top internet enterprises in the American Northwest. Moon Express, where Jain is the Executive Chairman, was launched in 2010; in 2016, Viome was founded with him as the CEO.
Naveen Jain was born in Uttar Pradesh, India, on September 6, 1959. In his early years, he was surrounded by his family. Aristocratic blood ran in his veins, and he was a beloved son by all.
From a young age, Jain had exceptional talent and a constant curiosity about new topics. As a member of an aristocratic family that understood the value of education,
he had no reservations about enrolling his children in school. He had unwavering support from his family at all times.
The Net Worth of Naveen Jain
Indian-American tycoon Naveen Jain has a fortune estimated at $100 million. When Naveen Jain was born in September 1959, he was born in India. His overall net worth is expected to exceed $100 million by the year 2022, according to the most recent projections.
He attended a nearby primary school till class five and was then accepted into the high school of his choice. After graduating from that high school, he pursued more studies and eventually earned a spot at a prestigious university.
He eventually ended up at Roorkee. He graduated from the Indian Institute of Technology with an engineering degree in 1979. Earlier this year, he relocated to the United States in search of business opportunities.
Every successful person he saw inspired him, and he spent his time figuring out how they did it. He was especially enamored with Bill Gates, whom he sought to reconcile with his own life by examining the person who had the greatest impact on his course.
In order to flourish in the future, Naveen always strives to come up with new business concepts. Since he arrived in the United States, he’s only had this one notion running through his head. Ultimately, he was successful.
When Prem came up with a business idea and put it into action, he received a significant amount of support. One of the most well-known people in the tech industry, he is most known for his work at Infospace (the company he co-founded),
Moon Express, and Viome. In addition, he is a shareholder in several other businesses. In my capacity as the creator and CEO of the aforementioned businesses, though, I’ve just acknowledged them.
In 1988, he married and moved to Seattle, where he had a good time. She is a mother of three at the moment. They all share a home, and the children are well-cared for and well-educated.
Facts and Myths
Listed among the most well-known entrepreneurs. Also on the list of the world’s most renowned Indian-born celebrities. Every year, Naveen Jain’s birthday falls on September 6.
Using six former Microsoft workers, Jain launched InfoSpace in March 1996 and began building email and phone directories. InfoSpace supplied websites and mobile device manufacturers with content and services like phone directories, maps, games, and stock market information.
Using co-branding tactics, the company flourished at a minimal cost and without finance. On December 15, 1998, it went public. The company was able to raise $75 million from the IPO. Several executives, including Jain, were sued by a shareholder in 2001.
By selling his own shares at the company’s high, the shareholder made a profit, according to the shareholder’s claims, Jain lied to shareholders about the company’s financials. In 2002, the board voted to sack Jain as CEO after he was involved in a series of lawsuits.
InfoSpace’s board of directors compelled Jain to resign as chairman and CEO in December of that year. In 2001, Jain re-entered the picture as CEO. Investor analysts were told by Jain that revenues were projected to rise,
despite the fact that all other evidence indicated a continuous fall. In 2001, InfoSpace predicted revenues of $360 million, then announced that the company would lay off 250 employees. Just as the stock price rose in reaction to analysts reiterating Jain’s upbeat revenue projection, several executives sold their shares in the company.
In order to provide the impression that the company was still expanding, it adopted deceptive accounting procedures. There was a process known as “buying revenues” that involved investing money in a company managed by Jain’s brother in exchange for him spending money on InfoSpace.
He helped found Intelius in 2003. In the past, the firm gathered and sold personal information about customers. Its revenues rose to $18.1 million in 2004 and to $88.5 million in 2007 with a profit of $22.5 million. In 2008, it made an IPO application.
It was the subject of numerous complaints from consumers who were made to assume that they were doing a short survey for $10 cashback but instead were signed up for a $20-per-month membership. In 2012, he renamed the company Income. In 2015, the company was sold and a new CEO was recruited, with Jain keeping a 25% stake.