Naveen Jain: Giving Back to the Community June 1, 2009
Posted in : Money Making , trackbackInformation magnate Naveen Jain started out as a senior executive for Windows Corporation, developing the forerunners of the modern Windows NT system. He holds the distinction of advancing the MSN network to establish influence over other online services such as Compuserve, Prodigy, and America Online.
He left Microsoft in 1996 to establish InfoSpace, a company that provided metadata for large Web portals at that time including MSN, AOL, and Lycos. The initial offering of the company was online telephone and address listings. Due to Jain’s exceptional leadership, the company added services like classified advertising, bulletin boards, and email capabilities. In the first year of business, revenue totaled to $1.6 million; two years after in 1998, the revenue jumped to $9.4 million.
He left InfoSpace in 2003 to create Intelius, which proved to be another Naveen Jain success story. Intelius’ main goal is to provide data intelligence solutions to individuals and businesses so that they may generate cost-effective and efficient decisions. Initially focusing on providing consumers telephone, address, and background data from compiled sources, the company soon developed identity theft protection solutions.
The success of both business investments has made Jain consider giving back to the community that has made his ventures flourish. In May 2006, the company’s product, IDWatch, offered an 80% discount to 26.5 million US Armed Forces veterans exposed to personal identity theft. The product, normally priced at around a $100, was available for $19.95 for the former men and women in uniform.
Naveen Jain also said that his company will provide free background checks for applicants and volunteers of the Boys & Girls Club of Bellevue. The club will use Intellius’ Nationwide Employment Checks to verify the employment and personal history of job and volunteer applicants, and ensure the safety of the children who are under the care of the volunteers and staff.
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