At the age of 26, John Collison - President of Stripe, becomes youngest self-made billionaire in the world - he was born after two months compared to the billionaire, founder of Snapchat's, Evan Spiegel, who is 26 years old now.
Two co-founders of Stripe recently joined the list of the youngest billionaires in the world after they claim that their online payment application has been completed the latest round of raising capital and is estimated about $9.2 billion.
Specifically, each of two brothers, Patrick and John Collison Collison, holds $ 1.1 billion after their company headquartered in San Francisco were funded $ 150 million from CapitalG - an Alphabet’s investment fund. With the latest investment, the value of this startup has doubled. On May 6/2015, they have only been $ 5 billion in valuation.
According to a reliable source, before the latest round of raising capital, they already own about 30% share of Stripe.
After receiving investments of $ 150 million, Forbes estimates that each of 2 Collison brothers holds at least 12% of the shares of the company. However, Stripe’s spokesman declined to comment on this matter.
As a result, at the age of 26, John Collison - President of Stripe, becomes youngest self-made billionaire in the world - he was born after two months compared to the billionaire, founder of Snapchat's, Evan Spiegel, who is 26 years old now.
Meanwhile, John's brother, Patrick, who is 28 years old this year, along with Bobby Murphy, are 2 another self-made billionaire in the list of under 30 year old billionaires
Two genius "madman"
Born in Ireland, these pair came to the US with barehanded status and passion for technology.
As a child, their parents used to open the hotel in such a peaceful village that they just have friends with cows.
"I often think, growing up in somewhere boring is a good thing because it forces you to find a hobby for yourself," John said.
As adolescence, two brothers had the first computer and started being wrapped in programming lessons every day.
"I think a lot of technology learners often waste their time on useless things while still in high school."
Indeed, both John and Patrick did not waste a single moment during the study. Both of them earned respectable academic achievement. Particularly, John has achieved the highest scores nationwide high school with many scientific awards.
After graduating from high school, these 2 brothers decided to go to America to continue studying in college. While Patrick was admitted to the Massachusetts Institute of Technology (MIT), John was admitted to Harvard. Here are two most famous universities in the US.
In the course of college, they have jointly set up the first software company named Shuppa, when he was 19 years old and John Patrick was 21. This company then merged with another startup, Auctomatic – a software companies for sales unit on eBay in 2008. This acquisition helped Patrick Collison and his brother,John, to become billionaires.
However, these two brothers did not rest on one’s laurels. Two years later, in 2010, Patrick and John had the idea of a new online payment tool project to help programmers to manage their companies more easily through cloud computing technology .
However this idea immediately is said to be crazy and infeasible, but Stripe had successful test on beta over a quite "crazy" period: 11 weeks.
This is the beginning of the Stripe - payment solutions for all companies and the services they are using, including Facebook, Twitter, Lyft, Alibaba, and Apple. Though this company is still private and does not publish a source of revenue but Forbes said the company has handled US $ 20 billion worth transactions last year.
For each transaction, Stripe has 2.9% value added, about 30 cents. If so, as calculated, the company achieved a turnover of about $ 450 million last year. Also according to the WSJ’s prediction, the growth rate of the company's transactions will increase beyond 40% in the near future.
Stripe has received a total amount of investment capital from private investors and institutions including Thrive Capital, Khosla Ventures, Founders Fund, General Catalyst Partners and Sequoia Capital. Once being a little-known service in the US, but now Stripe reaches 23 countries and becomes a regular partner of major corporations such as Visa, Apple, Facebook, Twitter, Pinterest and Alibaba.
Talking about his success, Patrick Collison said: "The initial success is just a little encouragement in the journey to achieve the goals that we have set ourselves".
With successes in such a young age, 2 founders of Stripe are considered the "maniac" in Silicon Valley. They are living proof for philosophy: When you are crazy enough, you can start everything with enthusiasm and passion. You dare to stand up and speak loudly for everybody to know that I can change the world!