Wayne Chang

Wayne Chang
Born (1983-08-03) August 3, 1983
Taipei, Republic of China
Residence Boston, Massachusetts, U.S.
Nationality American
Occupation
  • Entrepreneur
  • Startup Founder
  • Angel Investor
  • Film Producer
  • Philanthropist
Years active 1991–present
Known for Startups
Home town Haverhill, Massachusetts, U.S.
Net worth Increase $200 million[1]
Awards

Honorary PhD

40 under 40
Website waynechang.com

Wayne Chang (born August 3, 1983) is an American entrepreneur, angel investor, film producer, and philanthropist. He is best known for founding Crashlytics, a startup acquired by Twitter in 2013; creating a filesharing network called i2hub; making seed investments in companies including JetSmarter, Draftkings, and Gusto; and his lawsuit against the Winklevoss brothers.

Early life

Chang was born in Taipei, Taiwan, and grew up extremely poor on a farm in rural Taiwan. At age 6, he immigrated to the United States. However, in the states, things weren't that much better. He didn't have his own bed until he was 16. [2]

Despite that, Chang displayed a natural talent for technology. He wrote his first software program on the Apple IIe at age 7. He was involved with the original Napster, the first peer-to-peer filesharing platform, while he attended high school in Haverhill, Massachusetts. In 2005, Newsweek profiled Chang for his abilities in technology.[3][4]

Education

Chang enrolled as an undergraduate degree student at University of Massachusetts Amherst. At the university, he hacked into the computer systems and obtained all the encrypted passwords of everyone on campus. He broke that encryption, and the Office of Information Technology declined to press charges if Chang would share his methods. Chang also started a startup, i2hub, during his time at the university. To pursue his startup passions, he dropped out of college.[2]

In 2016, despite not having a bachelor's degree or master's degree, Chang was awarded with an honorary doctorate by University of Massachusetts Amherst. He was also the featured Commencement Speaker for the 2016 graduating class for University of Massachusetts Amherst.

Crashlytics

Chang co-founded Crashlytics, a mobile company building crash reporting for iOS and Android, with Jeff Seibert in 2011. Crashlytics raised $1 million from venture capitalists Flybridge Capital Partners and Baseline Ventures as well as individual angel investors David Chang, Lars Albright, Jennifer Lum, Peter Wernau, Roy Rodenstein, Chris Sheehan, Ty Danco, Joe Caruso, and others.[5][6][7] In April 2012, Crashlytics raised another $5 million from Flybridge Capital Partners and Baseline Ventures.[8]

Crashlytics has been installed on over 2.9 billion active devices and is the #1 most installed SDK for performance. Its Answers product became #1 in mobile analytics—beating out Google Analytics.[9]

In January 2013, Twitter acquired Crashlytics for over $100 million. Most of the package was in stock vesting over four years with an upfront payment of $38.2 million in common Twitter stock.[10]

In January 2017, four years later, Google acquired Crashlytics from Twitter.[11][12][13]

i2hub

Chang created i2hub in his dorm room at the University of Massachusetts Amherst. According to Chang, he started i2hub with the idea that college students should have an avenue to interact with each other. He had started it in February 2003 for a month but shut it down due to its popularity. He then restarted it in March 2004, when he was better prepared for the traffic.[3]

Facebook also had just launched in February 2004, a month before i2hub. Both i2hub and Facebook were gaining attention from the press. In August 2004, Mark Zuckerberg, Andrew McCollum, Adam D'Angelo, and Sean Parker of Facebook launched a competing peer-to-peer file sharing service called Wirehog.[14][15] Traction was low compared to i2hub, and Facebook ultimately shut it down.

As users flocked to the service, it attracted the attention of ConnectU and founders Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra. A partnership allegedly formed between i2hub and ConnectU. The partnership, called The Winklevoss Chang Group, jointly advertised their properties through bus advertisements as well as press releases. i2hub integrated its popular software with ConnectU's website, as part of the partnership. The team also jointly launched several projects and initiatives.[16][17]

Due to legal pressure, on November 14, 2005, i2hub was shut down.[18][19][20]

Facebook, ConnectU, and Winklevoss lawsuits

On December 21, 2009, Wayne Chang and The i2hub Organization launched a lawsuit against ConnectU and its founders, seeking 50% of the settlement. The complaint says, "The Winklevosses and Howard Winklevoss filed [a] patent application, U.S. Patent Application No. 20060212395, on or around March 15, 2005, but did not list Chang as a co-inventor." It also states, "Through this litigation, Chang asserts his ownership interest in The Winklevoss Chang Group and ConnectU, including the settlement proceeds."[17] Lee Gesmer of the firm Gesmer Updegrove posted the detailed 33-page complaint online.[16][21]

On May 13, 2011, it was reported that Judge Peter Lauriat made a ruling against the Winklevosses. Chang's case against them could proceed. The Winklevosses had argued that the court lacks jurisdiction because the settlement with Facebook has not been distributed and therefore Chang hasn't suffered any injury. Judge Lauriat wrote, "The flaw in this argument is that defendants appear to conflate loss of the settlement proceed with loss of rights. Chang alleges that he has received nothing in return for the substantial benefits he provided to ConnectU, including the value of his work, as well as i2hub's users and goodwill." Lauriat also wrote that, although Chang's claims to the settlement are "too speculative to confer standing, his claims with respect to an ownership in ConnectU are not. They constitute an injury separate and distinct from his possible share of the settlement proceeds. The court concludes that Chang has pled sufficient facts to confer standing with respect to his claims against the Winklevoss defendants."[22][23][24][25][26][27]

ConnectU sued Facebook in early 2004.[28] Facebook countersued in regards to the team's Social Butterfly project, and named among the defendants ConnectU, Cameron Winklevoss, Tyler Winklevoss, Divya Narendra, and Wayne Chang.[29] A settlement was reached where Facebook acquired ConnectU for 1,253,326 shares of Facebook stock and an additional $20 million in cash.[30][31]

In 2014, Superior Court Judge Thomas P. Billings, going against the other judges on the state's Business Litigation Session bench, dismissed both Chang's "options claims" and "partnership claims". Chang's lawyer, Alan D. Rose Jr., said "we respectfully disagree with the decision and will appeal." [32][33]

Other Startups

Besides founding his own startups, Chang has been involved in dozens of companies in different capacities including angel investor, board member, or advisor. These companies include JetSmarter, Draftkings, Gusto, Dropbox, SoFi, Planet Labs, AirHelp, LovePop, Muzik, OnSwipe, Triggerfox, Kite, Pistol Lake, Blispay, Homemade, Notarize, Reaction Housing, NS1, ValiMail, Stream, NextCaller, Adored, Slash Keyboard, SURKUS, Tablelist, Boomset, OpenDoor, Marble Robotics, and Uplevel Security.

Limited Partner in Venture Funds

Chang is a Limited Partner in several funds. The funds include:

Films

Wicked Magic Productions

In 2017, Wayne Chang teamed up with Paul English (co-founder Kayak, sold to Priceline for ~$2 billion) to start Wicked Magic Productions. Their first movie together is Coup d'Etat, a film starring Katie Holmes, Michael Caine, Jason Biggs, Seth Green and Odeya Rush.[34]

Chasing Coral

Chang is also an Associate Producer for award-winning climate change documentary Chasing Coral,[35] which won an award at Sundance Film Festival in 2017.[36][37] Netflix announced it had acquired the film at the festival and it is now a Netflix Original. It debuted on Netflix in July, 2017.[38][39][40][41] Movie review site Rotten Tomatoes gives it a 100% rating.[42]

Frame by Frame

Prior to Chasing Coral, Chang is also an Associate Producer for award-winning documentary Frame by Frame.[43] It premiered at SXSW in 2015 and subsequently went on to win many awards. The Hollywood Reporter called Frame by Frame "a work of profound immediacy, in sync with the photographers' commitment and hope" [44] and BBC Culture proclaimed "the film features photographers passionate about telling stories of the true identity of Afghanistan – whether they are newsworthy or not." [45] In 2016, Time, Inc acquired the documentary. It has a 92% rating on Rotten Tomatoes.[46]

Awards

40 under 40 by Boston Business Journal.[47]

Most Eligible Bachelor by The Improper Bostonian.[48]

Honorary doctorate (PhD) from the University of Massachusetts Amherst.[49]

Commencement Speaker for the Graduating Class of 2016 for the University of Massachusetts Amherst.[50][51][52][53][54][55][56]

Named one of 30 Most Disruptive People in Tech by Boston Magazine.[57]

Nominated Entrepreneur of the Year in 2013 by New England Venture Capital Association.[58]

Nominated Angel of the Year in 2015 and in 2016 by New England Venture Capital Association.[59][60]

Pop culture

In Spring 2001, The Boston Globe profiled Wayne Chang in "e-Files".[61]

In Spring 2005, Newsweek profiled Wayne Chang in their issue, "The College Vanguard: 15 Students You Don't Know... But Will".[4]

In April, 2005, the press, including USA Today, The Washington Post, Boston Globe, reported that the Recording Industry Association of America was filing lawsuits against users of i2hub.[62][63][64]

In July 2005, Wayne Chang was featured in CBS Sunday Morning News segment called "Networth".[61]

In August 2005, Wayne Chang was profiled by Boston Globe's Business section, "Software wiz follows dream out of college".[65]

In October, 2005, The Daily Free Press wrote an article in their business section, "Wayne's World".[3]

In November, 2005, the press, including MSNBC, BBC News and Boston Business Journal reported that Wayne Chang shut down i2hub.[66][67][68]

In August 2009, Wayne Chang spoke at an entrepreneur panel for The National Association of Asian American Professionals.[69]

In October 2010, the film The Social Network was released. The film depicts the battle between ConnectU and Facebook, which included the settlement at the end of the film that is the subject matter of the Chang v. Winklevoss case.

On December 14, 2010, ABC News wrote an article reporting on The Winklevoss Chang Group dispute, "Man Says Twins Who Sued Facebook 'Backstabbed' Him, Sues for Settlement Money".[70]

On December 16, 2010, Time Magazine wrote an article on The Winklevoss Chang Group dispute, "Facebook Watch: Former Business Partner Sues the Winklevi".[71]

On December 31, 2010, New York Times wrote a front-page article on the Facebook lawsuits. Chang was mentioned the blog post.[72]

In January 2011, BusinessWire and TechCrunch reported that Wayne Chang invested in OnSwipe's $1M seed round, along with Spark Capital, SV Angel, Betaworks, ENIAC ventures, Morado Ventures, Dharmesh Shah, Jennifer Lum, and Roy Rodenstein.[73][74][75]

The parody Twitter account @ballerwayne is widely assumed to represent Wayne Chang as an implausibly ostentatious rapper/entrepreneur. The owner of the account has been speculated by followers to be Dick Costolo, Tufts University Professor Ming Chow, or (most probably) Chang himself.

References

  1. ↑ "Wayne Chang Net Worth". The Richest.
  2. 1 2 Wayne Chang (2016-05-06). "Wayne Chang: Commencement Featured Speaker Address, 146th Commencement of the University of Massachusetts Amherst". UMASS.
  3. 1 2 3 Anita Davis (2005-10-21). "Wayne's World". The Daily Free Press.
  4. 1 2 "The College Vanguard: 15 Students You Don't Know... But Will". Newsweek.
  5. ↑ Gregory Gomer (2011-10-13). "Crashlytics Raises $1 Million Led by Flybridge & Boston's Top Angels". BostInnovation.
  6. ↑ Sarah Perez (2011-10-13). "Crashlytics, A Crash-Reporting Solution For Mobile Developers, Raises $1 Million". TechCrunch.
  7. ↑ Rodney H. Brown (2011-10-13). "Crashlytics details backers in recent $1M round". Mass High Tech.
  8. ↑ Sarah Perez (2012-04-10). "Crashlytics, A Startup For Crash Reporting on Mobile Apps, Raises $5M From Flybridge, Baseline". TechCrunch.
  9. ↑ "Twitter Fabric now installed on 2 billion active devices". VentureBeat. 2016-04-07. Retrieved 2017-07-30.
  10. ↑ "Twitter's Purchase of Crashlytics & Bluefin Labs: Prices Confirmed | Xconomy". Xconomy. 2013-10-04. Retrieved 2017-07-30.
  11. ↑ Constine, Josh. "Google acquires Fabric developer platform and team from Twitter | TechCrunch". Retrieved 2017-07-30.
  12. ↑ Wagner, Kurt (2017-01-18). "Google has acquired most of Twitter's developer products, including Fabric and Crashlytics". Recode. Retrieved 2017-07-30.
  13. ↑ "Fabric is Joining Google". Fabric Blog. Retrieved 2017-07-30.
  14. ↑ Martey Dodoo (2004-08-16). "Wirehog?". Martey Dodoo.
  15. ↑ Alan J. Tabak (2004-08-13). "Zuckerberg Programs New Website". Harvard Crimson.
  16. 1 2 Lee Gesmer (2010-01-18). "Chang v. Winklevoss Complaint". Commonwealth of Massachusetts.
  17. 1 2 Caroline McCarthy (2010-01-04). "Fresh legal woes for ConnectU founders". CNET News.
  18. ↑ John Borland (2005-11-04). "Supercharged college P2P network closes". CNET News.
  19. ↑ Thomas Mennecke (2005-11-15). "i2hub Shuts Down". Slyck.
  20. ↑ Antony Bruno (2005-11-15). "File-Trading Network i2Hub Shuts Down". All Business.
  21. ↑ Lee Gesmer (2010-01-18). "The Road Goes on Forever, But the Lawsuits Never End: ConnectU, Facebook, Their Entourages". Mass Law Blog.
  22. ↑ Bianca Bosker (2011-05-13). "Wayne Chang's Suit Against Winklevoss Twins Can Proceed, Judge Rules". Huffington Post.
  23. ↑ Sheri Qualters (2011-05-13). "Winklevoss Twins Loses Again in Court". The National Law Journal.
  24. ↑ "Winklevoss Twins Sued For Part Of Their Facebook Fortunes". Fox News. 2011-05-13.
  25. ↑ Nick O'Neill (2011-05-13). "Developer Sues Winklevoss Twins, Everybody Cheers". AllFacebook. Archived from the original on 2012-01-08.
  26. ↑ Chloe Albanesius (2011-05-13). "Winklevoss Twins Face Lawsuit Over Facebook Funds". PC Magazine.
  27. ↑ Sophia Pearson (2011-05-13). "Winklevoss Twins Face Suit Over Failed Alliance, Judge Says". Bloomberg L.P.
  28. ↑ Timothy J. McGinn (2004-09-13). "Lawsuit Threatens To Close Facebook". The Harvard Crimson.
  29. ↑ California Northern District Court (2007-03-09). "The Facebook, Inc. v. Connectu, LLC et al". Justia.
  30. ↑ Dan Frommer (2009-02-10). "Facebook Paid ConnectU Founders $65 Million Settlement". Business Insider.
  31. ↑ Brad Stone (2009-02-10). "ConnectU's 'Secret' $65 Million Settlement With Facebook". The New York Times.
  32. ↑ "Winklevoss twins prevail on summary judgment in Facebook suit – Massachusetts Lawyers Weekly". masslawyersweekly.com. Retrieved 2017-09-16.
  33. ↑ Brandon Gee (2015-02-20). "Winklevoss double cross" (PDF). New England In-House. 13 (1): 2. Archived from the original (PDF) on 2017-02-12. Retrieved 2017-09-16.
  34. ↑ Jr, Mike Fleming (2017-04-06). "Tech Titans Wayne Chang & Paul English Launch Wicked Magic Film Shingle". Deadline. Retrieved 2017-07-29.
  35. ↑ Chasing Coral (2017), retrieved 2017-07-29
  36. ↑ "Sundance 2017 Awards: 'Dina' & 'Chasing Coral' Are Big Doc Winners". FirstShowing.net. Retrieved 2017-07-29.
  37. ↑ Sharf, Zack. "Chasing Coral Trailer: Sundance Winner | IndieWire". www.indiewire.com. Retrieved 2017-07-29.
  38. ↑ Lincoln, Ross A. (2017-01-21). "Netflix Acquires Environmental Documentary 'Chasing Coral'". Deadline. Retrieved 2017-07-29.
  39. ↑ "Netflix Acquires Worldwide Rights to Chasing Coral at Sundance". Netflix Media Center. Retrieved 2017-07-29.
  40. ↑ Lang, Ramin Setoodeh,Brent (2017-01-21). "Sundance: Netflix Buys Global-Warming Doc 'Chasing Coral' (EXCLUSIVE)". Variety. Retrieved 2017-07-29.
  41. ↑ "Sundance: Netflix Takes 'Chasing Coral' Doc About the World's Coral Reefs". The Hollywood Reporter. Retrieved 2017-07-29.
  42. ↑ Chasing Coral, retrieved 2017-07-29
  43. ↑ Frame by Frame (2015), retrieved 2017-07-29
  44. ↑ "'Frame by Frame': SXSW Review". The Hollywood Reporter. Retrieved 2017-07-29.
  45. ↑ 2015, 9 April. "Frame by Frame: Unseen Afghanistan". Retrieved 2017-07-29.
  46. ↑ Frame by Frame, retrieved 2017-07-29
  47. ↑ "40 Under 40: Wayne Chang of Twitter". www.bizjournals.com. Retrieved 2016-12-19.
  48. ↑ "Great Catches | Improper Bostonian". www.improper.com. Retrieved 2016-12-19.
  49. ↑ "College dropout Twitter exec to speak at school's graduation". The Big Story. Retrieved 2016-12-19.
  50. ↑ UMass (2016-05-09), Wayne Chang UMass Amherst Commencement 2016, retrieved 2016-12-19
  51. ↑ "College dropout from Haverhill UMass keynote speaker". Eagle-Tribune. Retrieved 2016-12-19.
  52. ↑ "Twitter exec tells UMass Amherst grads to 'hack the system' - The Boston Globe". BostonGlobe.com. Retrieved 2016-12-19.
  53. ↑ "Twitter executive Wayne Chang tells UMass graduates to 'hack the system'". masslive.com. Retrieved 2016-12-19.
  54. ↑ "Twitter Executive Wayne Chang Addresses 5,500 Graduates at UMass Amherst Commencement (with video)". Office of News & Media Relations | UMass Amherst. Retrieved 2016-12-19.
  55. ↑ Goldscheider, Eric (May 6, 2016). "UMass grads told to 'make your own rules'".
  56. ↑ "Inspirational Quotes From 2016 Commencement Speakers". www.msn.com. Retrieved 2016-12-19.
  57. ↑ "The Boston Tech 30". Boston Magazine. Retrieved 2016-12-19.
  58. ↑ "The Top Entrepreneurs and VC's in Boston: NEVCA Names Award Finalists". BostInno. Retrieved 2016-12-19.
  59. ↑ "Meet the 2016 NEVYs Nominees: Angel of the Year - New England Venture Capital Association". New England Venture Capital Association. 2016-05-17. Retrieved 2016-12-19.
  60. ↑ "And the NEVYs Nominees Are... Angel of the Year - New England Venture Capital Association". New England Venture Capital Association. 2015-05-08. Retrieved 2016-12-19.
  61. 1 2 "Wayne LinkedIn".
  62. ↑ Jefferson Graham (2005-04-12). "College students face lawsuits on file sharing". USA Today.
  63. ↑ Frank Ahrens (2005-04-13). "Music Industry Sues Hundreds of File Sharers at Colleges". The Washington Post.
  64. ↑ Hiawatha Bray (2005-04-13). "Music Suits Hit Use of Fast Network". Boston Globe.
  65. ↑ Erika Lovely (2005-08-25). "Software wiz follows dream out of college". Boston Globe.
  66. ↑ "University file-sharing network shuts down". MSNBC. 2005-11-16.
  67. ↑ "High-speed college network closes". BBC News. 2005-11-15.
  68. ↑ "I2Hub shuts down after lawsuit threat". Boston Business Journal. 2005-11-16.
  69. ↑ "Entrepreneurial Spirit - Do you have it?". NAAAP. 2009-08-19.
  70. ↑ Ki Mae Heussner (2010-12-14). "Man Says Twins Who Sued Facebook 'Backstabbed' Him, Sues for Settlement Money". ABC News.
  71. ↑ "Facebook Watch: Former Business Partner Sues the Winklevi". Time Magazine. 2010-12-16.
  72. ↑ Miguel Heft (2010-12-31). "Winklevosses' Carry On Crusade Against Facebook". New York Times.
  73. ↑ "OnSwipe Raises $1M for Insanely Simple Tablet Publishing Platform". BusinessWire. 2011-01-13.
  74. ↑ Tsotsis, Alexia (2011-01-12). "OnSwipe Raises, Like, A Million Dollars". TechCrunch.
  75. ↑ "9 Reasons Why You Need to Work At Onswipe". Onswipe.
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