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What is Stephan Paternot’s Net Worth?
Stephan Paternot is a Swiss-American entrepreneur who has a net worth of $10 million. Stephan Paternot is greatest often called the co-founder of the Internet’s first social community, theGlobe.com. The firm went public in late 1998, posting the biggest first-day acquire of any IPO in historical past on the time, however noticed its inventory value collapse the next yr within the dot-com bubble burst. Paternot’s stake went from being worth over $100 million to practically nothing. It has since been absorbed into a bigger firm, and now not makes any cash.
Paternot later co-founded and have become the CEO of the net crowdsourcing market Slated. He additionally served as a member of Advisory Board at IC Compliance LLC, a member of the Advisors Board at LendingClub Corporation, on the Board of the Heineman Foundation, on the Board of the Heineman-Stiftung Foundation, and on the Board of the Independent Filmmaker Project IFP.org. He can also be the founding father of Actarus Funds which gives enterprise capital for rising tech firms.
It also needs to be famous that Stephan Paternot’s family is extraordinarily rich. His nice grand-father based Nestle and his father is a personal fairness investor who additionally served because the CEO for a few years for one of many largest temp businesses in Europe.
Early Life and Education
Stephan Paternot was born on March 21, 1974 in San Francisco, California. For his larger training, he attended Cornell University in Ithaca, New York.
theGlobe.com
While attending Cornell University, Paternot and fellow scholar Todd Krizelman turned fascinated by a primitive chatline on the college’s laptop community. Seeing enterprise potential within the service, they raised round $15,000 and acquired an Apple Internet Server. Paternot and Krizelman subsequently based the programming firm WebGenesis, which they used to program what would turn into the web site theGloble.com. The first social community on the Internet, theGlobe.com went reside on the primary of April in 1995, attracting over 44,000 visits inside a month. As the positioning’s reputation grew and the Internet turned an more and more scorching commodity, Paternot and Krizelman have been in a position to safe $20 million in financing by means of Dancing Bear Investments in 1997. The subsequent yr, in November, the pair took theGlobe.com public, and made headlines when the corporate posted the biggest first-day acquire of any IPO in historical past as much as that time, with a 606% improve over the preliminary share value. As a consequence, the corporate reached a market capitalization of over $840 million, making its founders price round $100 million every. Afterward, theGlobe.com expanded into gaming, buying Computer Games journal and a few gaming websites.
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With Paternot’s sudden success got here a substantial amount of scrutiny and derision. In 1999, he was filmed throughout an evening in town dancing on a desk at a complicated Manhattan night time membership together with his girlfriend. Clad in vinyl pants, Paternot was recorded saying: “Got the lady. Got the cash. Now I’m able to reside a disgusting, frivolous life.” Consequently, he turned a distinguished image of the hedonism of dot-com millionaires, and was dubbed “the CEO within the plastic pants.” Not lengthy after that, theGlobe.com turned a sufferer of adjusting tendencies within the financial system, and noticed its share value drop from a excessive of $97 to lower than 10 cents. Amid the dot-com bubble burst in 2000, Paternot and Krizelman have been pressured out of the corporate. Taken over by a former vice chairman of the American Institute of Certified Public Accountants, theGlobe.com finally closed its flagship web site, and in 2001 laid off half of its workers. Paternot went on to publish the guide “A Very Public Offering: A Rebel’s Story of Business Success, Excess, and Reckoning,” which covers his biography and the rise and fall of theGlobe.com.
Slated
In 2011, Paternot co-founded the net crowdsourcing market Slated, which is used primarily for movie financing, gross sales, and packaging and growth. He serves as CEO of the corporate.
Valley of the Boom
In 2019, Paternot was one of many topics of the six-episode restricted tv collection “Valley of the Boom,” concerning the dot-com growth and the eventual bubble burst. In the collection, Paternot was portrayed by Dakota Shapiro, whereas his enterprise companion Krizelman was portrayed by Oliver Cooper.
Personal Life
During the height of his fame within the late Nineties, Paternot dated mannequin Jennifer Medley.
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