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5 Things You Might Not Know About Chamath Palihapitiya

5 Things You Might Not Know About Chamath Palihapitiya
Benzinga readers and investors might know Chamath Palihapitiya best as the “SPAC King” and for his role in the SPAC boom of 2020. Here is more on Palihapitiya and some lesser known facts readers may not know.About Palihapitiya: Born in Sri Lanka, Palihapitiya emigrated to Canada at the age of six.After stints at AOL, Facebook Inc (NASDAQ:FB) and Slack Technologies (NYSE:WORK), Palihapitiya launched The Social + Capital Partnership, a fund to invest in ventures no major companies would fund.Palihapitiya launched Social Capital Hedosophia with Ian Osborne to use the alternative path to traditional IPOs to bring innovative tech companies to the public market. Palihapiya has plans to bring companies public using SPACs named alphabetically from IPOA to IPOZ. Six of the first SPACs have launched, with three closed and one with a pending merger.“My ambition is to be our generation’s Berkshire Hathaway. It’ll be a Berkshire, a holding company that, instead of holding Gillette and Coca-Cola and McDonald’s, will hold technology businesses,” Palihapitiya told Fortune.Palihapitiya is the chairman of Virgin Galactic Holdings (NYSE:SPCE), and brought Opendoor Technologies (NASDAQ:OPEN) public with IPOB and Clover Health (NASDAQ:CLOV) with IPOC. Social Capital Hedosophia Holdings Corp V (NYSE:IPOE) announced a merger with SoFi last week.Palihapitiya has also invested in SPAC deals involving MP Materials (NYSE:MP), Desktop Metal (NYSE:DM) and INSU Acquisition Corp II (NASDAQ:INAQ) target Metromile.Related Link: Chamath Palihapitiya's IPOD, IPOE, IPOF SPACs: What Investors Should KnowSocial Media Pioneer: Prior to launching Social Capital, Palihapitiya was the most tenured original senior management team member of Facebook. While at Facebook, Palihapitiya held roles helping with mobile and international growth, and had the role of vice president of user growth before departing. While at Facebook, Palihapitiya helped the company grow its user base from 50 million to 700 million.Palihapitiya has been critical of Facebook in recent years and sold all of his stock in 2014. At a Benzinga Boot Camp event, Palihapitiya said Facebook should have gone public earlier, as it could have helped an earlier transition to mobile.
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