Biography of Wayne Chang: Entrepreneurial Maverick & Philanthropic Leader
Biography of Wayne Chang:
Wayne Chang, born on August 3, 1983, is a well-known
American figure in the world of business and charity. He wears multiple hats,
including that of an entrepreneur, angel investor, film producer, and
philanthropist. His claim to fame stems from founding Crashlytics, a startup
that caught the attention of Twitter, leading to its acquisition in 2013. Apart
from this, Chang is recognized for his creation of i2hub, a file-sharing
network, his involvement in seed investments, and a notable legal battle
against the Winklevoss brothers.
The Early Years of Wayne Chang
Wayne Chang's journey began in Taipei, Taiwan, where he was
born into a family facing significant financial struggles. Growing up on a farm
in rural Taiwan, Chang experienced firsthand the challenges of poverty. At the
age of six, he moved to the United States with his family, but financial difficulties
persisted. Despite these hurdles, Chang's passion for technology emerged early
on. At just seven years old, he wrote his first software program using an Apple
IIe computer. As he progressed through high school in Haverhill, Massachusetts,
his interest in technology deepened. During this time, he became involved with
Napster, the pioneering peer-to-peer file-sharing platform. In 2005, Chang's
technological aptitude drew the attention of Newsweek, which profiled him for
his remarkable skills in the field.
Unconventional Beginnings: Wayne Chang's Early Ventures
During his undergraduate years, Wayne Chang enrolled at the
University of Massachusetts Amherst. However, his time at university took an
unconventional turn. Chang's knack for technology led him to engage in some
unorthodox activities. He gained notoriety for hacking into the university's
computer systems and accessing the passwords of everyone on campus. Despite the
serious nature of this breach, the Office of Information Technology opted not to
pursue legal action against Chang. Instead, they sought his cooperation in
understanding how he bypassed their security measures. Alongside his exploits
in hacking, Chang also found time to establish i2hub, a file-sharing network,
during his university years. Eventually, his dedication to entrepreneurship led
him to make the decision to drop out of college in order to pursue his startup
endeavors.
Recognition and Validation: Honors from University of
Massachusetts Amherst
In recognition of his achievements and contributions to the
field of technology, the University of Massachusetts Amherst conferred upon
Chang an honorary doctorate in 2016. Additionally, he was selected as the
keynote speaker for the commencement ceremony of the 2016 graduating class,
further cementing his connection to his alma mater despite his unconventional
academic journey.
Founding Digits: Pioneering Real-Time Business Technology
In 2018, Wayne Chang joined forces with former Crashlytics
co-founder Jeff Seibert to establish Digits, a company dedicated to developing
cutting-edge, real-time technology solutions for businesses. Their
collaborative efforts aimed to revolutionize how businesses operate in the
digital age.
Securing Support: Funding Milestones for Digits
In November 2019, Digits made significant strides in its
journey when it secured a substantial investment of $10.5 million in Series A
funding. This funding round was led by Benchmark and saw participation from a
notable lineup of investors, including Aaron Levie, Ali Rowghani, Anthony Noto,
April Underwood, and others. The infusion of capital provided Digits with the
resources needed to further develop its advanced technological offerings.
Building upon its initial success, Digits continued to
attract attention and investment. In April 2020, the company announced another
milestone as it successfully raised $22 million in Series B funding. This round
was led by GV and Benchmark, further validating the potential and promise of
Digits' innovative solutions for businesses worldwide.
Recognizing Excellence: Digits' Accolades in the Startup
World
The recognition of Digits' potential didn't stop there. In
October 2020, the company received prestigious recognition from Embroker, a
platform that evaluates and ranks startups globally. Digits was honored with
the sixth position on Embroker's list of the top 200 startups, affirming its
status as a transformative force poised to reshape various industries and
societies.
Inception and Growth: The Birth of Crashlytics
In 2011, Wayne Chang partnered with Jeff Seibert to co-found
Crashlytics, a mobile company focused on building crash reporting solutions for
iOS and Android platforms. The venture attracted significant attention and
support from both venture capitalists and individual angel investors. Initial
funding rounds saw Crashlytics raise $1 million from investors such as
Flybridge Capital Partners, Baseline Ventures, and notable individuals like
David Chang, Lars Albright, and Jennifer Lum. Subsequent funding in April 2012
brought an additional $5 million into the company's coffers, further fueling
its growth and development.
Industry Dominance: Crashlytics' Success Story
Crashlytics quickly gained traction in the mobile industry,
with its crash reporting technology being installed on over 2.9 billion active
devices. It became the leading SDK for performance, boasting the highest
installation rate. Moreover, its Answers product surpassed industry giants like
Google Analytics to become the premier choice for mobile analytics, solidifying
Crashlytics' position as an industry leader in mobile app development and
monitoring.
Acquisitions and Expansions: Crashlytics' Journey Continues
In January 2013, Twitter made a significant move by
acquiring Crashlytics for over $100 million. The acquisition deal included a
substantial portion in stock options vesting over four years, with an upfront
payment of $38.2 million in common Twitter stock. This acquisition marked a
major milestone for Crashlytics, validating its value and potential within the
tech industry.
In a further development, in January 2017, Google acquired
Crashlytics from Twitter, cementing its place within the Google ecosystem. This
acquisition underscored the continued recognition and relevance of Crashlytics'
technology in the ever-evolving landscape of mobile app development and
performance monitoring.
The Genesis of i2hub: Chang's Dorm Room Venture
In the confines of his dorm room at the University of
Massachusetts Amherst, Wayne Chang laid the groundwork for i2hub. Conceived
with the vision of providing college students with a platform for interaction,
Chang embarked on this venture in February 2003. However, its rapid popularity
led to its temporary shutdown within a month. Undeterred, Chang resumed
operations in March 2004, armed with better preparations to handle the ensuing
traffic.
The Era of Social Networks: i2hub and Facebook's Emergence
In February 2004, around the same time i2hub reemerged,
Facebook made its debut, marking the dawn of the social networking age. Both
platforms garnered significant attention from the media. In August 2004,
Facebook's attempt to venture into peer-to-peer file sharing with Wirehog faced
stiff competition from i2hub. Despite its efforts, Wirehog failed to gain
traction and was eventually discontinued by Facebook.
Collaborations and Controversies: The Winklevoss Chang Group
As i2hub's user base surged, it caught the eye of ConnectU
and its founders Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra.
Allegedly, a partnership named The Winklevoss Chang Group was formed, leading
to joint promotional efforts through bus advertisements and press releases.
i2hub's software was integrated into ConnectU's website, marking the beginning
of collaborative projects and initiatives.
The End of an Era: i2hub's Legal Closure
Despite its success, i2hub faced legal challenges that
culminated in its closure on November 14, 2005. Legal pressure compelled the
shutdown of the platform, marking the end of its brief yet impactful presence
in the realm of peer-to-peer file sharing.
Biography of Wayne Chang: Entrepreneurial Maverick & Philanthropic Leader / Investor Wayne Chang: /Wayne Chang:
Legal Battles Unfold: Wayne Chang vs. ConnectU and the
Winklevosses
A Legal Challenge: Wayne Chang vs. ConnectU and the
Winklevosses
On December 21, 2009, Wayne Chang and The i2hub Organization
initiated legal action against ConnectU and its founders, seeking a 50% share
of the settlement. The lawsuit alleged that the Winklevosses and Howard
Winklevoss filed a patent application without listing Chang as a co-inventor,
thus denying him rightful recognition. The complaint also asserted Chang's
ownership interest in The Winklevoss Chang Group and ConnectU, including any
settlement proceeds. Lee Gesmer of the law firm Gesmer Updegrove posted the detailed
33-page complaint online, shedding light on the intricacies of the dispute.
Judicial Green Light: Chang's Case Advances Against the
Winklevosses
In a significant development on May 13, 2011, Judge Peter
Lauriat ruled against the Winklevosses, allowing Chang's case to proceed. The
Winklevosses had argued that Chang lacked standing due to the pending
distribution of the settlement with Facebook. However, Judge Lauriat emphasized
that Chang's claims of ownership in ConnectU constituted a separate injury,
distinct from the settlement proceeds. This ruling paved the way for Chang to
pursue his claims against the Winklevoss defendants, highlighting the
complexity of the legal battle and the intricacies of jurisdictional issues.
The ConnectU-Facebook Settlement: A High-Stakes Resolution
ConnectU's legal tussle with Facebook dates back to early
2004 when ConnectU sued Facebook. In response, Facebook countersued, naming
ConnectU, the Winklevosses, Divya Narendra, and Wayne Chang among the
defendants. The legal wrangling culminated in a settlement, with Facebook
acquiring ConnectU for 1,253,326 shares of Facebook stock and an additional $20
million in cash, illustrating the high stakes involved in the tech industry's
legal landscape.
Legal Disputes Persist: Judge's Ruling and Plans for Appeal
In 2014, Superior Court Judge Thomas P. Billings delivered a
controversial ruling, dismissing both Chang's "options claims" and
"partnership claims". Despite opposition from other judges on the
state's Business Litigation Session bench, Judge Billings' decision prompted
Chang's lawyer, Alan D. Rose Jr., to announce plans for an appeal, signaling
the ongoing complexity and uncertainty surrounding the legal saga.
Wayne Chang's Wide-ranging Involvement in Startups
Wayne Chang's influence in the startup world extends far
beyond his own ventures. He's played various roles in numerous companies,
acting as an angel investor, board member, or advisor. Some of these companies
include JetSmarter, Draftkings, Gusto, Dropbox, SoFi, Planet Labs, AirHelp,
LovePop, and many more.
Chang's Contributions as a Limited Partner
In addition to his direct involvement with startups, Chang
also serves as a Limited Partner in several venture funds. These funds include
Baseline Ventures, known for its investments in Instagram, Weebly, OMGPop,
ExactTarget, and Heroku. He's also part of 137 Ventures, which has invested in
tumblr, Spotify, Palantir, and Hyperloop One. Other funds Chang is associated
with include Boston Seed Capital, Where Fund, and Launch Angels.
Wayne Chang's Venture into Film
In 2017, Wayne Chang joined forces with Paul English,
co-founder of Kayak (acquired by Priceline for approximately $2 billion), to
establish Wicked Magic Productions. Their inaugural project, "Dear
Dictator," features a star-studded cast including Katie Holmes, Michael
Caine, Jason Biggs, Seth Green, and Odeya Rush, marking Chang's entry into the
world of filmmaking.
Chang's Role in Environmental Advocacy: "Chasing
Coral"
Wayne Chang also serves as an Associate Producer for the
acclaimed climate change documentary "Chasing Coral." The film garnered
recognition at the Sundance Film Festival in 2017 and was subsequently acquired
by Netflix as a Netflix Original. Released in July 2017, "Chasing
Coral" received widespread acclaim, earning a 100% rating on Rotten
Tomatoes for its impactful storytelling and portrayal of environmental issues.
Documentary Success: "Frame by Frame"
Before "Chasing Coral," Chang contributed as an
Associate Producer to the award-winning documentary "Frame by Frame."
Premiering at SXSW in 2015, the film received critical acclaim for its
portrayal of photographers' dedication to showcasing the true identity of
Afghanistan. Praised by outlets like The Hollywood Reporter and BBC Culture,
"Frame by Frame" garnered attention for its profound storytelling and
earned multiple awards. In 2016, Time, Inc. acquired the documentary, further
solidifying its impact. With a 92% rating on Rotten Tomatoes, "Frame by
Frame" stands as a testament to Chang's involvement in impactful
filmmaking ventures.
Wayne Chang's Accolades and Recognitions
Throughout his career, Wayne Chang has received numerous
awards and accolades, highlighting his significant contributions and impact in
various fields:
Recognized Achievements: Boston Business Journal's 40 under
40
- Wayne Chang was honored as one of the "40 under 40" by the Boston Business Journal, recognizing his outstanding achievements and leadership in the business world.
A Distinctive Title: The Improper Bostonian's Most Eligible
Bachelor
- Chang was named the "Most Eligible Bachelor" by The Improper Bostonian, underscoring his charm and influence within the social scene.
Academic Recognition: Honorary Doctorate from the University
of Massachusetts Amherst
- In recognition of his accomplishments and contributions, Chang was awarded an honorary doctorate (PhD) from his alma mater, the University of Massachusetts Amherst, further solidifying his standing in academia.
Keynote Speaker: UMass Amherst Commencement Address
- Chang was selected as the Commencement Speaker for the Graduating Class of 2016 at the University of Massachusetts Amherst, where he shared his insights and wisdom with the graduating students.
Disruptive Influence: Boston Magazine's 30 Most Disruptive
People in Tech
- Chang was named one of the "30 Most Disruptive People in Tech" by Boston Magazine, recognizing his innovative approach and impact in the technology sector.
Entrepreneurial Recognition: Nominee for Entrepreneur of the
Year
- Chang was nominated for the Entrepreneur of the Year award in 2013 by the New England Venture Capital Association, acknowledging his entrepreneurial spirit and accomplishments.
Angel Investor Recognition: Nominee for Angel of the Year
- In both 2015 and 2016, Chang was nominated for the Angel of the Year award by the New England Venture Capital Association, recognizing his contributions and impact as an angel investor in the startup ecosystem.
Wayne Chang: Entrepreneurial Journey and Investments
Wayne Chang is a seasoned serial entrepreneur and angel
investor. Notably, his latest venture, Crashlytics, was acquired by Twitter in
one of its largest acquisitions to date. With a diverse portfolio, Chang has
also been instrumental in the success of other prominent startups like Dropbox
and Napster, collectively valued at over $10 billion. Beyond his
entrepreneurial endeavors, Chang serves as a limited partner in several
renowned investment funds.
Wayne Chang: A Trailblazer in Tech and Beyond
Wayne Chang's unique blend of psychology and strategic
acumen has resulted in transformative product and design experiences, reaching
a staggering seven billion devices. His notable ventures include co-founding
Crashlytics, acquired by Twitter for over $100 million, and co-creating Fabric,
later acquired by Google. Additionally, Chang's contributions extend to the
realm of environmental advocacy, earning him an Emmy Award as a producer for
the documentary "Chasing Coral." Despite being a college dropout, Chang's
achievements have been recognized with an honorary doctorate from his alma
mater, the University of Massachusetts Amherst. His impressive track record
boasts involvement in over eighty startups, with thirty-two successful exits,
contributing to a cumulative value creation of over $150 billion.
Some recent companies where Wayne Chang invested
- Bean - Media and Information Services (B2B)
- Duration Health - Clinics/Outpatient Services
- TrustCloud - Business/Productivity Software
- Dispense - Business/Productivity Software
- Forge.AI - Business/Productivity Software
- FaZe Clan - Movies, Music and Entertainment
- InSpace - Educational Software
- Loop Support - Human Capital Services
- Supersapiens - Media and Information Services (B2B)
- Weav - Software Development Applications
- Heal – in-home primary care practice
- SoFi – American online personal finance company
- Jumprope - build software that empowers teachers, students
- Stream - Stream builds chat and feeds for applications
- Searchable AI - Search AI artificial intelligence company
- CryptoTaxCalculator - Online Crypto Tax Calculator with support for over 400 integrations
Timeline:
August 3, 1983: Wayne Chang is born in Taipei, Taiwan,
amidst financial struggles faced by his family.
Early 1990s: Moves to the United States with his family,
settling in Haverhill, Massachusetts.
1990s-2000s: Demonstrates early passion for technology,
engages with Napster during high school years.
2003-2005: Establishes i2hub while attending the University
of Massachusetts Amherst, later embarking on entrepreneurial ventures.
2011: Co-founds Crashlytics, a mobile crash reporting
company, which gains significant traction in the tech industry.
2013: Twitter acquires Crashlytics for over $100 million,
marking a major milestone in Chang's entrepreneurial journey.
2016: Receives an honorary doctorate from the University of
Massachusetts Amherst and serves as the commencement speaker.
2018: Co-founds Digits with Jeff Seibert, focusing on
real-time technology solutions for businesses.
2019-2020: Digits secures significant funding rounds,
attracting attention from prominent investors.
2017-Present: Ventures into film production with Wicked
Magic Productions, contributing to impactful documentaries like "Chasing
Coral" and "Frame by Frame".
Recent Years: Actively engages as an angel investor and
limited partner in various startups and venture funds, contributing to diverse
industries such as healthcare, software development, entertainment, and
finance.
