The world of business has no scarcity of personalities who rose from nothing to become icons that influenced many. One name amongst these influencing and empowering business personalities that stands out is of Tony Hsieh. Though his untimely demise left the world in despair, his contribution will never be forgotten.
His evolution from selling pizzas from his college dorm to leading a shoe-making company, Zapoos, which was later sold for $1.2 billion, Hseih’s life is indeed inspiring. Let’s explore more about the life of a bright entrepreneur and venture capitalist, and how he navigated his life to become an iconic name in the world of business.
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Tony Hsieh was born on 12th December 1973 in Urbana, Illinois, USA, to the parents Richard and Judy Hsieh, who were immigrants from Taiwan and moved to the US in search of job opportunities and a better life. Tony was the eldest of 3 siblings, all brothers, and when he was about 5 years old, the family moved to San Francisco’s Bay Area in 1978 and later settled in Marin County, California.
In the late 1980s, Tony went to The Branson School, a private prep school located in Ross, California. He showed exceptional academic skills, particularly in Mathematics and Computer Science, and graduated from there in 1991. He later attended Harvard University in Cambridge, Massachusetts, to get his degree in Computer Science. He completed his degree in 1995 with a bachelor’s degree in Computer Science.
Since childhood, Tony had a knack for business, and when he was 9 years old, his entrepreneurial journey began with selling buttons from door to door. While studying at Harvard from 1991 to 1995, he ran a small pizza business from his dorm room, which he successfully owned. Soon after graduating from Harvard, he joined Oracle, but within a year, he left the company and co-founded “LinkExchange” in 1996 with his college friend, Sajay Madan, an online advertising network.
The start-up did well, and by 1998, Microsoft acquired it for $265 million, making Tony a millionaire merely at the age of 24. He briefly served the company post-acquisition and eventually left. In 1999, he launched Venture Frog, a venture capital firm, and through it invested in a small online shoe company, ShoeSite.com, which was later renamed as Zapoos.
He joined Zapoos as the CEO in 1999 and channelized all his energy into building the company. During the early 2000s, Tony focussed on online retail, company culture, and customer service, and under his leadership, Zapoos became a brand and launched a unique motto that any new employee can leave the company if they aren’t satisfied and the company will pay the $2000.
By 2005, Zapoos reached $370 million in annual sales, and in 2009, it was acquired by Amazon for $1.2 billion, with Tony serving as the CEO, and he received about $214 million from the deal. In 2009, Tony published his best-selling book named “Delivering Happiness,” where he talked about his personal journey and business philosophy. In regard to the book, he even went on a national speaking tour and established himself as a leader in corporate culture.
In 2012, Tony launched Downtown Project in Las Vegas and invested $350 million of his own money with the aim to revive the city’s ignored downtown area. While the project had a momentary success, it faced backlash and criticism, resulting in a failed investment.
Tony continued to serve as the CEO of Zapoos till August 2020, but resigned from the post after 21 years. On November 18th, 2020, his life was tragically ended when he was injured in a house fire in New London, Connecticut, and died from severe smoke inhalation. He was 46 years old at the time of his death.
Tony’s rise to fame came when he led Zapoos to reach its annual sales of $370 million, which was later acquired by Amazon. He again came into the limelight when he published his best-selling book “Delivering Happiness.”
As per the information available, Tony never married or had any news about his romantic involvement ever surfaced. Reportedly, he never had any children.
As per the reports, Tony Hsieh’s net worth at the time of his death was from $850 million to $1 billion, which he accumulated by serving as the CEO of Zapoos, money he made from companies that were acquired by big firms, LinkExchange, and Zapoos, and other investments.
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