Garrett Camp Net Worth - Pulptastic

What is Garrett Camp’s Net Worth?

Garrett Camp, a Canadian entrepreneur and businessman, has a net worth of $2.5 billion. He co-founded StumbleUpon, a web-discovery tool, which earned him his first small fortune. However, his work at Uber, a mobility-as-a-service provider, made him a multi-billionaire.

Camp founded Expa, a startup studio, and currently serves as the chairman of Mix, the successor of StumbleUpon. At Uber’s peak private valuation, his net worth exceeded $6 billion, but on the day Uber went public in May 2019, his paper net worth ended the trading day at $3.4 billion.

Early Life and Education

Garrett Camp was born in Calgary, Canada in 1978 to an artist mother and economist father. He attended the University of Calgary where he earned a bachelor’s degree in electrical engineering in 2001. Camp continued his studies at the university as a graduate student, focusing on evolutionary algorithms and information retrieval. He earned his master’s degree in software engineering.

Co-founder of StumbleUpon and its Revival

Garrett Camp co-founded StumbleUpon, a web-discovery tool, while he was still in graduate school at the University of Calgary in late 2001. The service used collaborative filtering to create virtual communities of Web users and was credited as the first web-discovery platform and personalized recommendation engine. After receiving funding from Silicon Valley angel investors, StumbleUpon relocated to San Francisco in 2006. The platform was purchased by eBay for $75 million in 2007, and Camp and other investors eventually bought it back in 2009.

As CEO, Camp worked to expand StumbleUpon’s offerings to include mobile phone app discovery and social networking. He grew the company to more than 100 employees and over 25 million registered users before resigning in 2012. In 2015, Camp acquired StumbleUpon again when it was in financial debt. However, the platform was ultimately shut down in mid-2018, and all user accounts were transitioned to Mix.com, a new web-discovery tool built in part through Camp’s startup venture Expa.

Garrett Camp Co-Founded Uber in 2009

Garrett Camp, during his stint as CEO of StumbleUpon in 2009, collaborated with Travis Kalanick to create Ubercab. The goal was to provide affordable direct transportation services to passengers. Ubercab was later rebranded as Uber and was launched in San Francisco in 2010 with just a few cars. By year-end, the company raised over $1 million in venture capital, which helped it expand across the US and overseas. In 2012, Uber launched UberX, Uber SUV, and UberTAXI. In 2013, CEO Travis Kalanick announced a ride-sharing service, which enabled members of the public to become drivers through the Uber application.

Expa: Garrett Camp’s Startup Studio

Garrett Camp founded Expa in 2013 to create and launch new companies. The startup studio provides starting capital, technical advice, and workspaces to fledgling startups. In 2014, Expa raised $50 million to fund the development and design of startups. Two years later, the company raised $100 million. Expa has launched online companies like Mix, Haus, and Cmd.

Camp creates energy-efficient cryptocurrency Eco

Garrett Camp, known for co-founding Uber, has created a new cryptocurrency called Eco. Unlike other cryptocurrencies that heavily strain the environment, Eco is designed to be highly energy efficient in its token generation and transaction verification processes.

Philanthropic Activities

Garrett Camp has joined the Giving Pledge, a campaign by Bill Gates and Warren Buffett, in which wealthy individuals pledge to donate most of their fortunes to charitable causes during their lifetimes. He has also established his own non-profit research organization called the Camp Foundation, which supports research in sustainability, environmental conservation, and infrastructure.

Controversy Surrounds Garrett Camp’s Purchase of Beverly Hills Mansion

Garrett Camp, co-founder of Uber and creator of the startup studio Expa, has faced criticism for his treatment of Uber’s labor force. In 2019, he purchased an 11,000-square-foot mansion in Beverly Hills for $72.5 million, which was met with backlash from activists and Uber employees demanding better working conditions for drivers.