According to the Bloomberg Billionaires Index, the net worth of the two founders of Grammarly, Max Litvin and Alex Shevchenko, is today about $ 2.4 billion (about Rs 18 thousand crore). According to data from Bloomberg, the bankers participating in the funding round currently hold 23 per cent. Brad Hoover is the head of Grammarly, an online grammar correction service. He wants the world to write better English. With this he came up with the idea of Grammarly. Started it in the year 2009 with a team of 3 people.
Hoover declined to name himself or Grammarly’s third co-founder, Dimitro Leider. Today there are more than 600 people serving in the company. More than 30 million users around the world use Grammarly every day. Grammarly is already one of the largest unicorns in the world.
Last November, the company had managed to raise $200 million (about Rs 1,500 crore) from several investors including BlackRock Inc and Bailey Gifford. At present, the value of the company is $ 13 billion (about 97 thousand crore rupees).
In the year 2019, its funding was more than $ 2 billion (about Rs 15000 crore). This was only a few months ago, when lakhs of workers were displaced due to COVID-19 and were left to type from home for co-workers. Litwin says customer service was a priority in the early days. The company started getting success from the year 2014.
Shevchenko and Litvin became friends in Kiev Shevchenko and Litvin became friends in
the late 1990s while studying business administration at the International Christian University in Kiev. The idea for Grammarly came from a previous company they formed to help prevent plagiarism.
