SHAAN Puri is a serial entrepreneur and former CEO of social media giant Bebo who most recently sold The Milk Road – a cryptocurrency newsletter with more than 250,000 subscribers.
But what is the story behind Puri and what is his net worth?
Who is Shaan Puri?
Shaan Puri was born in 1988, and studied Biology and Chemistry at Duke University in North Carolina.
Puri’s first business venture – a sushi restaurant called Sabi Sushi he founded with two friends after university – failed.
He then went on to become CEO of Monkey Inferno in 2012 which was funded by Michael and Xochi Birch, the founder’s of Bebo who sold the social networking giant to AOL in 2008 for $850 million.
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Monkey Inferno was a ‘Personal Incubator’, where internet projects were “turn into successful businesses.”
Puri then moved to Blab in 2015, a live streaming app which grew to 3.9 million users in just one year.
But Blab failed and Puri moved over to Bebo to become CEO.
Bebo went bankrupt in 2013, but its original founders, Michael and Xochi Birch bought the platform back for $1 million in an attempt to bring it back from the dead.
In 2019 under Puri’s leadership, Bebo was bought by steaming platform Twitch for $25 million.
Puri then worked as a senior director of product at Twitch before resigning in 2021.
Puri then founded The Milk Road – the fastest growing newsletter in the US for cryptocurrency investors – which he sold at the end of 2022.
Milk Road’s mission is “to help people get smarter about crypto.
“We accomplish this by communicating with our readers like IRL friends. We’re fun, we’re chatty, we’re candid. We keep it brief, we keep it humorous, and we never waste your time.”
After launching in just 2021, the newsletter grew from 0 to 250,000 subscribers.
Puri is still involved in the project and holds to position of chairman.
Puri now has a personal newsletter with over 20,000 subscribers and is the co-host of My First Million podcast.
On the My First Million podcast, every week Puri and Sam Parr explore different business opportunities and explain how to pounce on them.
The pair say: “Basically…we spoon-feed you interesting businesses you can start tomorrow. And hey, maybe it’ll help you get your first million users, revenue, profit, employees (that’d be wild), or whatever it is you want a million of.”
Puri also has more than 300,000 followers on Twitter.
What is Shaan Puri’s net worth?
Shaan Puri has a net worth of $10 million from his multiple business ventures.
In 2020, Shaan Puri invested 25 per cent of his net worth into Bitcoin.
He said: “I think it’s a rare opportunity to front run a wave of institutional capital that will come into BTC in the next 2 years.
“And I think people think this time it hits $20,000 is ‘just like last time’ but it’s not for many reasons.”
Shaan Puri has had some big loses since pivoting his focus to cryptocurrency, however, haemorrhaging $1 million when Do Kwon’s Luna crashed in 2022.
Suri is also a serial investor and spent about $2.5 million on 25 startups in 2021.
