5 Mega Companies And Their Founding Facts (And Myths)
As business owners, it's easy to be drawn to real-life success stories of businesses that started with nothing and wound up as empires. These stories make great tales, some even fit for the silver screen (see: The Social Network). Chad Hurley, Steve Chen and Jawad Karim founded YouTube in February of 2005. The founders were all former employees of PayPal and started the company with an initial investment of $11.5 million from venture capitalists. The company quickly rose to being the de facto video sharing site on the Internet, quickly serving millions of videos daily to people all over the world. Just over a year, the video sharing site was sold to Google for $1.65 billion.