How Bobby Murphy became a Billionaire?

Robert Cornelius Murphy (born July 19, 1988) is an American Internet entrepreneur and engineer. He is the co-founder and the CTO of the American multinational technology and social media company Snap Inc., which he created (as Snapchat Inc.) with Evan Spiegel and Reggie Brown while they were students at Stanford University.

 

He was named as one of “100 Most Influential People in 2014” by Time. In 2015, Murphy was first listed and became the second-youngest billionaire in the world by Forbes. He is the co-founder of Snapchat and CTO of Snap Inc.Murphy was recruited by Spiegel after they had finished working on a failed startup called Future Freshman, a website that helped high school kids get advice and help with applying to colleges. His friendship with Spiegel began during their years at Stanford University. They also were fraternity brothers in Kappa Sigma. Murphy is famous for creating a disappearing-image messaging app called Picaboo, which later became Snapchat, in September 2011.

 

After graduating from Stanford, Murphy spent a year working as a software engineer at Revel Systems (an iPad point of sale system for restaurants). Until Snapchat could secure venture capital funding, he used half of his paycheck to cover the cost of Snapchat’s server bills.

 

Since co-founding Snapchat in 2011, Murphy has led Snap’s engineering, product, and research teams including the recently launched Spectacles, which are wearable smart glasses that can capture video and photos and send them to the user’s Snapchat account. Murphy once told Forbes “We weren’t cool. So we tried to build things to be cool,” referring to his college days. He remains the author of much of the Snapchat app code to this day. The Wall Street Journal has reported that after the predicted March 2017 IPO for Snap Inc., Murphy and Evan Spiegel would hold over “70% of the voting power” in the company, and own around 45% of the total stock.

 

In February 2017, Murphy and Evan Spiegel have pledged to donate up to 13,000,000 shares of Class A common stock, over the course of 15–20 years to their newly created Snap Foundation that will support the arts, education and youth non-profits. In March 2017, they took Snap Inc public, with the camera company reaching a market cap high of $34 billion within two days of its IPO. In August 2017, the camera company reports a market cap of $13 billion, according to Google finance.

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