Meet New York's First Internet Tech Startup Billionaire
Business Insider
New York's Silicon Alley startup scene just got its first billionaire.
Shutterstock founder Jonathan Oringer officially became a billionaire today when the company's shares hit a record high this morning, Bloomberg's David de Jong and Max Raskin report.
Shutterstock, a stock photo and video site, went public last October.
The 39-year-old owns about 55% of Shutterstock. His 18.5 million shares were valued at $1 billion earlier this morning.
There are, of course, other tech billionaires from New York, like Mayor Michael Bloomberg. But Oringer is the first to come out of Silicon Alley's Internet scene, according to RBC Capital Market analyst Andre Sequin.
Earlier this month, the New York tech scene got a major bump when Tumblr sold to Yahoo for $1.1 billion.
After news of the deal went live, people were quick to call Tumblr founder David Karp a billionaire. But Karp raked in an estimated $275 million from the deal.
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