Chad Meredith Hurley (born January 1, 1977) is a co-founder and former Chief Executive Officer of the popular video sharing website YouTube. In June 2006, he was voted 28th onBusiness 2.0's "50 People Who Matter Now" list. In October 2006 he and Steve Chen soldYouTube for $1.65 billion to Google.[1]
Hurley worked in eBay's PayPal division—one of his tasks involved designing the originalPayPal logo—[2] before starting YouTube [3] with fellow PayPal colleagues Steve Chen andJawed Karim.[4]
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[edit]Biography
[edit]Early years
Chad is the middle child of Don and Joann Hurley, and grew up near Birdsboro, Pennsylvania. He has two siblings, an older sister, Heather, and a younger brother, Brent. Since childhood, Chad showed interest in the arts and became interested in computers and electronic media during high school.
He was a stand-out runner for Twin Valley High School's cross-country program, which won two of its PIAA State titles with him as a member in 1992 and 1994. He was also member of the Technology Student Association during high school. He graduated from Twin Valley High School, Elverson in 1995 and went on to receive his B.A. in Fine Art from Indiana University of Pennsylvania in 1999.[6]
[edit]PayPal
When he was about to graduate from college, Hurley heard of then-new company PayPal that at the time was dedicated to enabling PDAusers to send money among themselves. Hurley sent his resume and received a job interview. After flying to California, he was asked to design a logo to show his skills. The result was PayPal's logo for many years. It was during his days at PayPal that he met Steve Chen andJawed Karim, two PayPal engineers with whom he talked about several ideas for businesses. In 2002, when eBay bought PayPal for $1.54 billion, Hurley received a bonus which he used to finance their future venture[citation needed]. Another link that helped their future venture was their connection to Roelof Botha, the former PayPal CFO.
[edit]YouTube
On October 16, 2006, Chen and Hurley sold YouTube to Google, Inc. for $1.65 billion. It was reported in the Wall Street Journal that Chad Hurley's share in the $1.65B sale of Youtube.com was $345.6M at Google's Feb. 7, 2007 closing stock price of $470.01. He received 694,087 Google shares directly and another 41,232 shares in a trust. His other two co-founders Aditya (Business man ) , Steve Chen and Jawed Karim, received 625,366 shares and 137,443 shares respectively valued at $326.2M and $64.6M. The Journal's report was based on Google's registration statement with SEC filed on Feb. 7, 2007. Hurley stepped down as CEO of YouTube in October 2010 and stated he would stay on as an advisor of YouTube, allowing Salar Kamangarto take over the CEO position.[7]
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