Silicon Valley has seen a lot of successful startups and the emerging of the big tech companies such as Google, Facebook, etc. But there has been a recent news where a CEO of one of the companies had become a billionaire and had failed in the Silicon Valley. In this article let’s look at who exactly is Takanori Nakamura and how he turned to be a billionaire.
Takanori Nakamura – Latest News
Takanori Nakamura a CEO who had failed in the Silicon Valley has become successful in his home country. His company’s stock price has surged and provided a return of around 4,500%. He was pulled out of Silicon Valley in the year 2015 after his mobile marketing software had failed and later on decided to completely take his business into Japan which is his home country.
Now the efforts put by him are paying off and his company Rakus Co. has seen a surge in its stock price of more than 4000% since the day it was listed in Tokyo. The company that year was also one of the best performances on the stock market index of the country.
About Rakus Co.
Rakus Co. is the latest startup in Japan which created a vast wealth for its founder which saw a surge in its price after the company went public. The company is considered to be an example of how some of the hot stocks of the country apply cloud based software and Artificial Intelligence into business ideas which a lot of people consider it to be boring.
Takanori Nakamura owns around 34% stake in the cloud based expense software firm and serves as the president and the chief executive officer of the company. According to the Bloomberg Billionaires index, his net worth has seen a surge to around USD 1.9 billion.
What is the Story of Takanori Nakamura?
Takanori Nakamura has conveyed that he doesn’t feel real about his newfound wealth. One of the major dreams of Nakamura was to be able to eat out without worrying about the cost and now he is grateful that he doesn’t have to worry anymore.
Nakamura used to love reading the tales of rags to riches as a boy and had decided in high school that he wanted to be an entrepreneur. He had finished his graduation from Kobe University and soon after that, he joined the telecommunications giant Nippon Telegraph and Telephone Corp in the year 1996. However, after a year he had quit the company.
He founded a company in the year 2000 which is a predecessor of Rakus Co. The company had provided training to engineers on how to use and operate the Linux which is an open source operating system. The company later had branched out in different areas where it provided services such as email services and a software that helped in automating the data processing.
In the year 2009, the company had launched its main business which the current business of Rakus Co. The company released a software called Raku Raku Seisan which means easy easy settlement in English. This software helped the workers to create expense reports online and later the company had developed a mobile version of the software as well.
In the initial stages, the Software had failed to take off and Nakamura had set his sights and thought that they would win and succeed in the Silicon Valley. He had planned to develop a software which helped the companies to analyze how effective their ads that are run on social media and to whether decide to pull or continue to run their ads.
He had a thought that the company required a pull in the overseas market because the population of Japan was declining during that period of time. But eventually, the idea and the business had failed in the Silicon Valley.
According to Nakamura, the US based companies were pouring in investments in the Silicon Valley and competing with them was kind of impossible for them. So later on, he realized that with the given resources the company has a better chance to win in their home country and in the year 2015 Rakus Co. had gone public on the Tokyo stock exchange.
The company started taking off as Smartphones became more popular in Japan. According to the company, the software developed has more than 8,000 corporate customers. The company is also estimated to have a potential for medium term and long term growth.
What is the net worth of Takanori Nakamura?
The net worth of Takanori Nakamura is 180 crores USD.
Who is Takanori Nakamura
Takanori Nakamura is the founder and CEO of cloud software firm Rakus, his company offers cloud-based solutions for small and medium business enterprises. He founded Rakus in 2000 and the company went public in 2015.