Man Becomes a Billionaire in 24 Hours – Photo




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Dave Girouard

Forbes has announced ex- employee, Dave Girouard as latest tech to become a billionaire.

He is worth of $1.3billion. This comes after his company’ shares increased by a whopping 89% on a single day trading to make him a billionaire within 24 hours.

He a former of Enterprise Services where he built cloud app business worldwide.

Girouard founded Upstart, a marketplace lender that offers personal loans using non-traditional variables such as and , to predict creditworthiness.

While speaking to thenativesociety.com, Girouard shared insights on how he founded Upstart and his vision for company. He pointed out why and how he made millennials target market for Upstart and how it worked perfectly.

“My co-founders and I started company based on observation that their 20 don’t really have access to credit on fair terms. They’re considered “thin files” because they don’t have a lot of history using credit. So it’ kind of a catch-22 — how can you get good credit if you haven’t used credit? But we came from , where we used a whole ton of data to make hiring decisions for this same demographic — where somebody went to school, what they studied, how they performed academically. So we figured that this type of could not only be used to make hiring decisions but also to make credit decisions. If you’re young, your educational background is critical to understanding your potential — and conversely your unemployment potential. And that helps better understand the relative risk of our borrowers,” he said.

Funding

Upstart received very robust funding from VC firms and Google. According to Forbes, Upstart received a sum of $160 million from Google Ventures, Third Point, Khosla Ventures, First Round Capital, etc.

David Girouard’s current net worth

On Thursday, March 18, Upstart witnessed its share skyrocket to a staggering 89% on a single trading day. The fortunes of Co-Founder David Girouard who owns over 14% of shares the company ballooned to $1.3bn. He is currently the latest billionaire the Fintech Space.

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