Divya Narendra Net Worth: How Did He Start ConnectU?
Divya Narendra is an American Entrepreneur. The co-founder and current CEO of SumZero, a platform that facilitates communication between investors in the hedge, mutual, and private equity funds, is Divya Narendra. However, Divya is best known for his connection to Mark Zuckerberg and the original Facebook.
He co-founded the social networking website ConnectU in 2002 with Cameron and Tyler Winklevoss, two other Harvard students. Mark Zuckerberg soon joined the group and took a partnership role in the endeavor. The Winklevoss twins and Narendra were on one side of a legal dispute that Zuckerberg started when he launched thefacebook.com in 2004.
Divya Narendra Early Years
On March 18, 1982, in the Bronx, New York, Narendra was born. He was raised in Bayside, Queens, and is the oldest child of Sudhanshu Narendra and Dharamjit Narendra Kumar, two doctors who immigrated to the United States from India. He graduated from Flushing, Queens’ Townsend Harris High School before enrolling at Harvard University in 2000. In 2004, he received his degree in applied mathematics.
Divya Narendra Career: When Did He Start His Professional Life?
He developed the concept for a social networking site while still in college and gave it the name Harvard Connections. This platform’s launch was postponed, and on May 21st, 2004, it finally went live under the new name ConnectU. As an online community for Harvard students, it became somewhat popular before being discontinued. He left the company in July 2006 after completing his studies, joining Credit Suisse in June 2004 as an Analyst.
He started working at Sowood Capital Management as an Associate – Valuation Group in July 2006, where he remained until August 2007. He co-founded SumZero, Inc., his first business, in September 2007 with his Harvard friend Aalap Mahadevia. One of the biggest investor communities online is this platform. This company’s CEO, Divya, has served in that capacity for more than 14 years.
Divya Narendra Net Worth: How Did He Become So Rich?
According to celebritynetworth An American entrepreneur named Divya Narendra has an estimated net worth of $80 million. The co-founder and current CEO of SumZero, a platform that facilitates communication between investors in a hedge, mutual, and private equity funds, is Divya Narendra. However, Divya is best known for his connection to Mark Zuckerberg and the original Facebook.
Divya Narendra Personal Life: Is He Married or Not?
In June 2017, Narendra tied the knot with Phoebe White. A few years prior, the couple had encountered each other at a bar, though they did not exchange contact details.
After their meeting, he tracked down her email address online and sent her an email, which started their relationship. Together, the couple bought an industrial-style loft in New York City‘s Tribeca district. Narendra likes to practice for marathons and play the guitar in his free time.
Divya Narendra’s Social Media Site: How Did He Start ConnectU?
Along with classmates Cameron Winklevoss and Tyler Winklevoss, Narendra founded the social media site Harvard Connection while a student at Harvard University. The platform was developed by the group in December 2002. Users were able to add individuals as friends, message one another, and update friends on their lives. Later, they changed the name of the platform to ConnectU.
The group approached Mark Zuckerberg, a different student, in November 2003 about joining the platform’s team to contribute more complex code. He concurred but later changed the website to thefacebook.com, which became Facebook.
The Winklevosses and Narendra learned about thefacebook.com in February 2004 after reading a press release in “The Harvard Crimson,” the student newspaper at Harvard. Soon after, they discovered the Harvard Connection code had been left inoperable, and they sent Zuckerberg a cease and desist letter. Additionally, they filed formal complaints with Larry Summers, the president of the university, and the Harvard Administration Board.
They claimed that Zuckerberg had broken both the student handbooks and the university’s honor code. Both, however, insisted that the matter was not within the purview of the school and suggested that the students file a lawsuit. Several court cases followed. They charged Zuckerberg with violating someone else’s intellectual property. The ensuing legal dispute would last for several years.
Narendra was portrayed by actor Max Minghella in the 2010 David Fincher film “The Social Network,” which chronicles the birth and development of Facebook. Despite the fact that Minghella is of Italian and Chinese ancestry while Narendra is Indian, Narendra has responded favorably to how he was portrayed in the movie.
Divya Narendra’s Controversy: How Much Does He Get as Facebook Compensation?
ConnectU sued Facebook in 2004, claiming that Mark Zuckerberg had essentially stolen their idea after the university declined to get involved. In total, the Winklevosses and Narendra received $65 million by 2008; this sum was distributed as $20 million in cash and a grant of pre-IPO Facebook stock, which was valued at $45 million at the time of the settlement.
Although a number of additional lawsuits were filed after that, the three plaintiffs ultimately decided to settle for a seven-figure sum. The equity portion of the settlement that belonged to Divya could have been worth up to $200 million had he held onto his stake through the end of 2021.
Divya Narendra’s Beta Version: How Did He Start SumZero?
Narendra joined Credit Suisse as an analyst after completing his studies at Harvard. His next stop was Sowood Capital. He had the idea for his subsequent entrepreneurial business venture while he was working there.
He had seen a chance to develop a virtual community for seasoned investors who were looking for fresh investment opportunities or who wanted to collaborate on investment projects over the course of his career in the field. He ultimately made the choice to return to New York and start working on the beta version of what would later become SumZero. He asked Aalap Mahadevia, a former classmate at Harvard, to collaborate on a project.
Narendra continued to be involved in legal action against Zuckerberg and Facebook during this time. They ultimately came to a settlement that included Facebook stock as well as a sizable sum of money. Despite being financially secure at this point, Narendra made the decision that he wanted to go back to school.
He enrolled in Northwestern University’s JD-MBA program in 2009, and he graduated from it in 2012. He continued to work on SumZero while going to school. He started doing the project full-time as soon as he graduated from school. The Winklevoss brothers, who contributed $1 million to SumZero, with whom he had previously worked on the Harvard Connection, allowed him to continue his work.
Since that time, SumZero has steadily expanded and now has about 75,000 users. Prospective members must complete an application, which has different requirements depending on the type of membership sought, in order to join the community. It continues to be an exclusive community of professional investors because almost 75% of applicants are turned down.
The platform is divided into three sub-platforms: Job Vault, Research, and Cap Intro. The main goal of the Research platform is to give members advice on securities that are traded publicly. By connecting funders and fund managers, the Cap Intro platform offers opportunities for fund managers to raise capital.
For members looking for jobs in the investment industry, The Job Vault serves as a job board. Narendra spends the majority of his time concentrating on the SumZero platform, though he is still actively pursuing other business opportunities.
Divya Narendra is the CEO of SumZero, a platform that facilitates communication between investors in hedge, mutual, and private equity funds. Divya Narendra has an estimated net worth of $80 million. He co-founded ConnectU with Cameron and Tyler Winklevoss, two other Harvard students.
ConnectU sued Facebook in 2004, claiming that Mark Zuckerberg had essentially stolen their idea. In total, the Winklevosses and Narendra received $65 million by 2008. This sum was distributed as $20 million in cash and a grant of pre-IPO Facebook stock.