Ivan Zhao is an entrepreneur who is the founder and chief executive officer (CEO) of Notion. Notion is a versatile productivity software that allows users to create and organize notes, tasks, and projects in a customizable workspace.
Founded in 2011 by Ivan Zhao and Simon Last, Notion had its fair share of struggles initially. The first version of the software was not user-friendly at all and resulted in a lack of funds. This led to layoffs, and Zhao and Last moved from San Francisco to Kyoto, Japan for cost-cutting. The two founders shared a small two-story house and worked 18 hours a day to rebuild Notion. In an interview, Zhao recalled how the duo did not bother to sleep, dress, or cook.
“We were just, code, code, code. Then, ‘Hey, let’s go out for food.’ Then, we go eat, go back to work, and do it again,” Zhao said.
After working tirelessly day and night, Notion 1.0 was launched with a minimalist aesthetic, simple user interface, and drag-and-drop functionality. The software gained traction through community building and support for power users. As its popularity grew, Notion drew in significant angel investment and venture capital funding.
Now, in 2024, Notion is valued at over $10 billion and it is used by millions of users worldwide.
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Ivan Zhao Net Worth
As of 2024, Ivan Zhao’s net worth is $1.5 billion Zhao has officially earned the status of a billionaire. According to Forbes, the majority of his billion-dollar net worth comes from his 30% ownership of the company.
Education
Ivan Zhao immigrated to Canada from China when he was 17 years old. He studied cognitive science at the University of British Columbia (UBC).
Although his formal education was in cognitive science, Zhao also had an interest in photography and was involved in the local hacking scene, where he learned web development.
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Career
From 2011 to 2012, Ivan Zhao worked as a product engineer at Inkling, an education publishing startup.
In 2013, Zhao founded Notion with Simon Last. Zhao wanted to create a platform where users could do as much with a word processor as they could with a blank piece of paper. Josh Kopelman, a venture capitalist, was so impressed that he wrote a $2 million check during Notion’s seed round in 2013.
However, the initial version of the productivity software was underwhelming, facing several issues. In 2015, facing financial difficulties and a lack of market understanding, Zhao and his cofounder, Simon Last, laid off their only staff, moved to Kyoto, and rebooted Notion. This move, supported by a $150,000 loan from Zhao’s mother, led to the development of Notion 1.0, which transformed the platform into a versatile productivity tool.
This version was still a software editor but had evolved into a more user-friendly productivity tool, with added features for creating wikis and managing to-do lists. Its release on Product Hunt in 2016 marked a turning point, quickly gaining popularity and profitability.
The software’s versatility appealed to a wide range of users, from students creating to-do lists and taking class notes to design-minded entrepreneurs and artists using it for portfolios and project management. The platform’s popularity grew through word of mouth, and by 2019, Notion had reached its first million users.
Employees at companies like DoorDash and Nike adopted it for project management, while consultants at McKinsey began using it for both personal and professional tasks. In 2018, the co-founders hired Akshay Kothari as the chief operating officer (COO).
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Latest Updates
A month ago, Notion officially crossed the 100 million users landmark. Also, the software recently introduced several notable updates, to enhance its automation capabilities and expand its feature set. The most impactful change is the enhancement of database automation, allowing for more complex conditions and precise control over triggers. Previously, the company had launched an AI bot designed to enhance the platform’s search capabilities, allowing users to quickly find information across all their Notion documents.
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FREQUENTLY ASKED QUESTIONS
Where did Ivan Zhao go to college?
Ivan Zhao went to the University of British Columbia (UBC) where he studied cognitive science.
How old is the founder of Notion?
The founder of Notion, Ivan Zhao is around 37-38 years old in 2024. His exact birth date is currently unknown.
How much is Notion valued at?
Notion, the productivity software, is valued at $10 billion and it has over 100 million users with more than 4 million paid users.
