William “Bill” T. Gross is an American businessman and entrepreneur. He has founded over 100 companies, including Idealab, a startup studio based in Pasadena, California, US. Idealab has been a driving force in the technology industry, incubating and launching many innovative companies including Citysearch, Ticketmaster, eToys, and GoToMeeting.
Currently, Gross serves as the founder and chief executive officer (CEO) of ProRata AI. Pro Rata AI is a venture capital firm that invests in early-stage artificial intelligence companies. It focuses on backing companies developing AI solutions to address real-world challenges. The firm’s portfolio includes companies working in areas such as natural language processing, computer vision, and machine learning.
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This article will look into Bill Gross’s net worth, education, career, and more.
Bill Gross Net Worth
Unfortunately, there is no information on Bill Gross’s net worth. We will update this section as soon as we come across any reliable information on his wealth.
However, do not confuse Bill Gross with Bill H. Gross, an American investor and founder of Pacific Investment Management Co (PIMCO). The two are different individuals with distinct expertise and areas of interest.
Education
Bill Gross attended Birmingham High School from 1972 to 1976. After graduating from high school, he continued his education at the California Institute of Technology (Caltech). There he earned a Bachelor of Science (B.S.) degree in Engineering from 1976 to 1981.
For more than 20 years, he has been serving on the Caltech Board of Trustees.
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Career
Bill Gross began his career at Lotus Development in 1985, where he spent six years as a Developer focused on new product development.
In 1991, inspired by his son David’s experience in Kindergarten, Gross founded Knowledge Adventure, an educational software company. Over the next five years, he grew the company to become the third-largest educational publisher globally, eventually selling it to Havas Vivendi.
In 1995, Gross identified the need for an online Yellow Pages service for local businesses following the release of the Netscape browser. This insight led to the founding of CitySearch, which quickly became an industry leader. The company went public in 1998 and later merged with Ticketmaster in 1999.
Following CitySearch, Gross founded Goto.com (later renamed Overture Search Services) in 1998, pioneering the concept of bidding on keywords in search engines. The company experienced rapid growth, achieving several hundred million in revenues, going public, and ultimately being sold to Yahoo for $1.6 billion in 2003.
In 2001, Gross founded several companies, including Picasa, a photo management software that addressed the growing problem of digital camera photo storage. Picasa was acquired by Google and became the basis for Google Images.
He also founded X1, a search engine designed to provide instant access to personal information.
Gross continued his entrepreneurial journey with the founding of Perfect Market in 2007, which he co-founded and worked on for seven years.
That same year, he started RayTracker, a company focused on lowering the cost of solar energy through innovative tracking technology for solar panels. RayTracker was merged with First Solar in 2011.
In 2010, Gross founded UberMedia, where he served as CEO for five years, and in 2013, he founded Heliogen, a clean energy company focused on replacing fossil fuels with solar power in industrial processes.
Heliogen was created at Idealab, Gross’s technology incubator, which he founded in 1996 and continues to lead as Chairman. Idealab has launched over 150 companies, created more than 10,000 jobs, and had over 45 successful IPOs and acquisitions.
Gross’s recent ventures include co-founding Migo; founding Elementary Robotics i; and founding Camino Mobility. He also founded CarbonCapture Inc. in 2019 to address climate change by capturing carbon dioxide from the atmosphere.
In 2020, Gross co-founded tvScientific, a company focused on providing advanced TV advertising solutions, and UpdateAI, where he serves on the board. He also joined the board of Energy Vault in 2017, a company focused on energy storage solutions.
Then, in 2024, Bill Gross founded ProRata.ai, where he currently serves as CEO, focusing on advancing technology in Los Angeles, California.
Latest Updates
ProRata has raised $25 million in funding. It also secured partnerships with organizations like Universal Music Group, The Atlantic, Financial Times, and Axel Springer.
The startup’s model involves using patented algorithms to trace the origins of AI-generated content and ensure that the rightful copyright holders receive payments.
Also, ProRata is preparing to launch a subscription-based chatbot-style search engine in October 2024. It will use only licensed data, distinguishing it from other AI search tools that scrape the web without permission.
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FREQUENTLY ASKED QUESTIONS
What is the revenue of Idealab?
According to a report, Idealab’s annual revenue is around $150 million. The company’s peak revenue was $149.3 million in 2023.
Who is the owner of Idealab?
The owner of Idealab is Bill Gross, an American businessman and entrepreneur. Gross founded the company in 1996 and serves as its Chairman.
