Naveen K. Jain (/nɒˈviːn dʒeɪn/; born 6 September 1959)[1] is an Indian-American business executive, entrepreneur, and the founder and former CEO of InfoSpace.
InfoSpace briefly became one of the largest internet companies in the American Northwest, before the crash of the dot-com bubble and a series of lawsuits involving Jain.
[7] Naveen Jain was working on the launch of Microsoft Networks (MSN), when Netscape Communications raised $2.2 billion in an initial public offering in 1995.
[3] Naveen quit Microsoft to start InfoSpace that year, with the aim of having his own initial public offering as quickly as possible.
[3] Jain founded InfoSpace in March 1996 with six employees, mostly from Microsoft, and began developing e-mail and telephone directories.
[3] InfoSpace provided content and services, such as phone directories, maps, games and information on the stock market, to websites and mobile device manufacturers.
[5] An investigation by the board found evidence that Jain may have failed to fulfill his contractual promises for stock options to seven former employees and eight business partners.
[5] In March 2000, even as the stock price declined, Jain said InfoSpace would one day have a greater market-share than Microsoft, Intel and Cisco combined.
[13] In 2003 Jain was ordered to pay $247 million for violations in "short-swing trading rules", whereby he bought and sold stocks within six months as an employee with insider knowledge.
In appeals court the Securities and Exchange Commission submitted a brief taking Jain's side,[3] which led to a settlement for $105 million.
[19] In December 2004, an $83 million settlement was reached between InfoSpace and Jain, which would result in dismissal of all the cases, including the one from the shareholder, with prejudice.
The company is building machine-operated spacecraft to mine materials like gold, cobalt, platinum, and Helium-3 (nuclear energy fuel) from the Moon.
Started in 2015, Bluedot licenses research from United States Department of Energy national labs for commercialization.
[2][29] Jain is a member of the board of Kairos Society, a non-profit network of undergraduate entrepreneurs, founded by his son.
In collaboration with his wife, the Anu and Naveen Jain Women’s Safety Xprize was launched in October 2016 and was intended to run until June 2018, with a goal of awarding $1 million to a team who creates an affordable device that can quickly, automatically, and quietly send an emergency alert to responders.