Bobby Murphy (businessman)

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Bobby Murphy
Robert Murphy, By J. Emilio Flores
Murphy in January 2013
Born Robert Cornelius Murphy
(1988-07-19) July 19, 1988 (age 30)
Berkeley, California, U.S.
Residence Venice, Los Angeles, California, U.S.
Nationality American
Citizenship United States
Education The School of the Madeleine, Saint Mary's College High School
Alma mater Stanford University, (B.S.)
Occupation Entrepreneur, and engineer
Known for Co-Founder of Snap Inc. (since 2016)
Co-founder of Snapchat (since 2011)
Home town Berkeley, California. U.S.
Salary $250,000
Net worth Increase US$2.9 billion (August 2018)[1]
Title CTO of Snap Inc.
Spouse(s) Kelsey Bateman
Parent(s) Richard Cornelius Murphy Jr. and Rosie L. Go-Murphy

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.

Early life[edit]

Murphy was born on July 19, 1988,[2] in Berkeley, California.[3] the son of a Filipino-born mother, Rosie L. Go-Murphy, and a United States-born father, Richard Cornelius Murphy Jr.[4] His parents are both government employees in California. On his mother's side, he is of Filipino descent, and on his father's side, he has Irish, Scottish, and English ancestry. His mother grew up in the Philippines, and emigrated to the United States.[5]

Murphy grew up in Berkeley, California and was educated at the School of the Madeleine, a private Roman Catholic grade school there.[6] He received his secondary education at Saint Mary's College High School, also a private Catholic high school in Berkeley.[7]

Education[edit]

Murphy graduated in 2010 from Stanford University in Stanford, California, where he received a Bachelor of Science degree in Mathematical and Computational Science.[1] He was also a member of the Kappa Sigma fraternity along with Evan Spiegel and former friend Reggie Brown.[citation needed]

Career[edit]

He is the co-founder of Snapchat and CTO of Snap Inc.[1][8] 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.[9][10]

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.[1] 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.[11]

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.[12][13] 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.[citation needed]

Personal life[edit]

Murphy is a native of California. He resides in Venice, California,[1] where he bought a $2.1 million two-bedroom house located close to Snapchat’s new offices at 63 Market Street in Venice. He was recently recorded as the 1,250th-richest person in the world, by Forbes Magazine, in 2015. In 2015, he ranked #15 U.S. Richest Entrepreneurs Under 40.[1] As of 2016, he was ranked #374 on the Forbes 400 and in 2015 he was also #374.[1]

References[edit]

  1. ^ a b c d e f g "Bobby Murphy profile". Forbes. 
  2. ^ Evan Spiegel (2012-07-19), Happy Birthday Bobby! 
  3. ^ Bobby Murphy and Evan Spiegel, CNBC, October 6, 2014, retrieved February 18, 2017 
  4. ^ "Bobby Murphy profile". celebfamily. 
  5. ^ "How this Fil-Am became 2nd youngest billionaire in the world". ABS-CBN News. Philippines. March 5, 2015. Retrieved March 6, 2015. 
  6. ^ The School of the Madeleine 
  7. ^ Saint Mary's in the Community 2 
  8. ^ "Meet the secret power players who run Snapchat". Business Insider. 2016-09-28. Retrieved 2016-12-07. 
  9. ^ Dave, Paresh (2017-03-01). "Bobby Murphy cleaned up after frat parties; now he stands to clean up in Snapchat IPO". Los Angeles Times. ISSN 0458-3035. Retrieved 2017-11-03. 
  10. ^ Colao, J.J. "The Inside Story Of Snapchat: The World's Hottest App Or A $3 Billion Disappearing Act?". Forbes. Retrieved 2017-11-03. 
  11. ^ Farrell, Maureen (January 20, 2017), Snapchat Parent Plans to Pay Banks 2.5% of IPO Proceeds, New York: The Wall Street Journal, retrieved January 22, 2017 
  12. ^ Velazco, Chris (February 2, 2017). "Snap Inc, Quietley created A Foundation to support arts and education". engadget. Rochester, New York. Retrieved March 3, 2017. 
  13. ^ Taylor, Harriet (February 2, 2017). "Snap co-founders create Snap Foundation to support non-profits". CNBC. Retrieved March 3, 2017.