He was an original member of the Snapchat founding team. When Snapchat was still in its infant stages, Bobby Murphy invested all of his wealth in the company.
Mr. Spiegel possesses all of the skills and expertise necessary to establish the website; however, he did not have the financial resources necessary to do so, and Bobby Murphy assisted him in his venture in exchange for ownership of Snapchat.
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The Early Life of Bobby Murphy
Murphy was born on July 19th, 1988 in the city of Berkeley, which is located in the state of California. His mother was born in the Philippines and eventually made her way to the United States of America.
Murphy spent his childhood in Berkeley, California, and had his primary education at the School of the Madeleine, a Roman Catholic grade school that is private in that city. Saint Mary’s College High School, which is also a private Catholic high school in the Berkeley area, was where he completed his secondary education.
The Career of Bobby Murphy
After Spiegel and Murphy’s unsuccessful firm Future Freshman, which was meant to help high school students with the college application process, Spiegel recruited Murphy.
Murphy co-founded the Picaboo ephemeral image messaging app in 2011. A rebranding resulted in the current moniker, Snapchat.
Like Snapchat cofounder Evan Spiegel, Bobby Murphy made the #Forbes400 in 2015, with a net worth of $1.8B at 27-years-old. Snapchat’s shares have fallen, and so has his worth, to $1.6Bhttps://t.co/00KTzVf3cf pic.twitter.com/3HozRWecsf
— Forbes (@Forbes) November 19, 2018
Murphy worked as a software engineer for Revel Systems for a year after graduating from Stanford (an iPad point-of-sale system for restaurants). He put up half of his pay to pay for Snapchat’s server fees until the company could get cash.
Murphy has been in charge of Snapchat’s R&D and technical departments.
Murphy has also collaborated with the Snap Labs group at Snapchat to develop the Spectacles camera spectacles that were released in 2018. Murphy and Spiegel owned more than 45 percent of Snapchat at the time of its initial public offering in 2017. They also controlled well over 70% of the vote.
Murphy and Spiegel promised in February 2017 to give away up to 13,000,000 shares of Class A common stock to the Snap Foundation over the course of 15–20 years in order to fund organizations that focus on the arts, education, and youth.
While both were students at Stanford University, Bobby crossed paths with Evan Spiegel, who would later become one of the co-founders of Snapchat. They were all brothers in the Kappa Sigma fraternity. Reggie Brown was the third co-founder of the company. During the summer of 2011, the three friends developed Picaboo, a forerunner to Snapchat. Reggie Brown departed the firm at the same time.
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He later filed a lawsuit against his co-founders and Snapchat, claiming creative ownership of the business and its signature software. In September 2014, Snapchat settled with Reggie for $158 million.
Snap cofounders Evan Spiegel and Bobby Murphy drop a combined $1 billion in net worth after bad earnings report https://t.co/AsPBQSvR6L pic.twitter.com/1uALn8SlVH
— Forbes (@Forbes) August 11, 2017
Evan and Bobby turned down Mark Zuckerberg’s $3 billion acquisition offer in 2013.
As an alternative, the company went the IPO route. Snap Inc. first started trading on the New York Stock Exchange on March 2, 2017.
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The stock began at $24, well above the predicted $17 price, and the company’s market cap reached $20 billion by day’s end. Both Spiegel and Murphy sold 16 million shares on the day of the IPO, netting them a combined $272 million before taxes (about $180 million after taxes).
Bobby Murphy’s Net Worth
Bobby Murphy is an American entrepreneur and businessman who has accumulated a net worth of $1.5 billion throughout the course of his career.
The most notable accomplishment of Bobby Murphy is his role as a co-founder of Snapchat, together with Evan Spiegel. Bobby is a 14% shareholder in Snapchat.
Bobby Murphy is an American entrepreneur and businessman. He has accumulated a net worth of $1.5 billion throughout the course of his career.
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The most notable accomplishment of Bobby Murphy is his role as a co-founder of Snapchat, together with Evan Spiegel.
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