Naveen Jain
Naveen Jain | |
|---|---|
 | |
| Born | September 6, 1959 |
| Occupation(s) | Founder and CEO, Intelius Founder and CEO (1996-2002), Infospace |
| Website | Naveen Jain Naveen Jain (Intelius) |
Naveen K. Jain is an entrepreneur and software executive. He is best known for founding the companies InfoSpace and Intelius.
Background
Born in 1959, Jain lived in villages throughout Uttar Pradesh, India. His surname Jain reflects the family religion, Jainism. His father was a civil engineer for the public-works department. According to Atul Jain, Naveen's brother, Atul Jain, their father defied the local custom of taking bribes and because of this, his father sometimes had to be escorted by a bodyguard. According to the Seattle Times, the Jains lived in small rental homes with running water and electricity. Naveen Jain, however, wanted a different life and admired business leaders who "built so much from nothing." He earned a degree in engineering from Indian Institutes of Technology.[1] Jain left New Delhi, India in 1979 through a business-exchange program to explore the emerging U.S. high-technology market. He first worked for Burroughs Corporation (now Unisys) but was not acclimated to the climate of New Jersey.[1][2]
Companies
Microsoft and MSN
In 1989 Jain joined Microsoft in Redmond, Washington, where he made his name as a program manager. Says Jain, "My job was to define what a product should do from a consumer point of view and what it is that Microsoft wanted the program to be," blending visions of software coders with market demands. Jain eventually served as an executive responsible for managing development of the Microsoft Network until leaving Microsoft in April 1996 to found Infospace.[2]
InfoSpace
Jain founded InfoSpace in March 1996 and was its Chief Executive Officer until 2002. The service included various features, primarily a search engine and an online directory. During his time as CEO, he was accused of misleading investors and portraying inaccurate information about the company's financial status. The practice of pro forma returns estimation was a controversial accounting method used by many dot-coms, according to the Seattle Times.[3] When stock fell from a peak of $1,000 per share to $2.67 between 2000 and 2002, Jain was removed as CEO and was subject to several lawsuits that were later settled, as well as accusations of insider trading.[1][3][4]
Intelius
His latest venture, founded in 2003 is Intelius. Intelius recently filed for its Initial Public Offering to raise $147 Million. Intelius revenue for the trailing 12 months was 75 Million and the company generated a net income of 6.3 million during the same period. Intelius is an Information Commerce company that provides intelligence services to consumers over the Internet. Intelius provides protection services that help people manage personal security risks that affect their private, professional and social lives. [5]. [6].
Recognition and awards
- 1997, Red Herring top 20 entrepreneurs[2][7]
- 2006, Ernst & Young finalist for Entrepreneur of the Year[8][9]
References
- ^ a b c Heath, David; Pian Chan, Sharon; Dot-con Job: Part 1: Dubious Deals, The Seattle Times, 2005
- ^ a b c Smarter than Bill, Red Herring, June 30, 1997
- ^ a b Heath, David; Pian Chan, Sharon; Dot-con Job: Part 2: Cashing Out, The Seattle Times, 2005
- ^ InfoSpace bubble-era accounting highly "complicated", USA Today, March 10, 2005
- ^ [1], February, 2008
- ^ Forrest, Brady The Seattle Start-Up Index, O'Reilly Radar, December 10, 2007
- ^ http://www.infospace.com/_1_2P4JT9603LKS1F6__info.wnet/about/aboutinfo.htm
- ^ http://www.ey.com/global/Content.nsf/US/SGM_-_EOY_-_Regional_Programs_-_PNW_-_Pacific_Northwest_-_2006_Finalists
- ^ http://seattle.dbusinessnews.com/shownews.php?newsid=77960&type_news=past