Jumio has announced today that they have launched an enhanced version of the Netswipe Mobile SDK with Boost 20/20. The SDK would take only 20 minutes to implement and the integration of the SDK is free. Jumio has allocated around $5 million in free scans for qualifying developers too.
If you have seen the movie, “The Social Network” you will notice that Facebook co-founders Mark Zuckerberg and Eduardo Saverin were close friends in college but equity in the company tore their friendship apart. Just like in the movie, Zuckerberg had diluted Saverin’s shares in the company heavily in real life. A lawsuit between the two led to the increase in Saverin’s ownership again. Brazilian news magazine Veja recently interviewed Saverin and he revealed that he does not have any hard feelings towards Zuckerberg.
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About a week ago, I wrote an article about how Facebook co-founder Eduardo Saverin renounced his U.S. citizenship. Saverin was born in Brazil and currently lives in Singapore. Saverin had renounced his citizenship in September 2011, but the IRS announced it this month. When Facebook has an IPO, Saverin’s net worth would turn into roughly $3-$4 billion. Singapore does not levy capital gains taxes so by renouncing his citizenship, Saverin would be able to dodge $67 million in taxes. Sen. Chuck Schumer, D-N.Y. and Bob Casey D-Pa. is not happy with this move so they have unveiled the Ex-PATRIOT Act.
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Facebook co-founder Eduardo Saverin is known for having his shares in the company diluted initially. After a lawsuit against Mark Zuckerberg, Saverin now owns roughly 4% of Facebook and he has just renounced his U.S. citizenship just days before the company is going to have an IPO.
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Jumio’s Netswipe technology is about to revolutionize online credit card payments. The tech scans credit cards with webcams and uses the encrypted video to assess whether the card is real (plastic, raised letters, et cetera) and to record the card number and info. Users then enter the security code via keyboard and the transaction is complete! GigaOM reports that creator Daniel Mattes found a 36% reduction in fraud costs and 2.3 minutes saved per transaction when the Netswipe tech was tested in a six-week trial.
According to a source with BusinessInsider.com, Facebook co-founder Eduardo Saverin has sold $500 million worth of Facebook stock on a private market. If you have seen the movie The Social Network, you will know that Saverin was fired from the company and his stock was diluted to less than 0.5%. Frustrated by the stock dilution, Saverin shared his story with The Accidental Billionaires author Ben Mezrich. The Social Network is based on that book. Saverin has been using some of his wealth to invest in other Internet companies such as Jumio and Qwiki.
Jumio is a mobile payments solution company that is preparing to launch in the next couple of months. Facebook co-founder Eduardo Saverin has participated in the $6.5 million round of funding. He put in over half of the round according to TechCrunch. Saverin will be on Jumio’s board of directors as well.
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Qwiki has raised $8 million in series A funding. The largest investor in this round is Facebook co-founder Eduardo Saverin. Saverin has been very low-key with his investments due to the tumultuous experience he had as a Facebook co-founder. Essentially Mark Zuckerberg reduced Saverin’s equity to 0.03%, but gave him proper equity back when Saverin started talking to the press about his side of the story. His side of the story was made into a movie called The Social Network.
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