Jed McCaleb has been a forerunner on digital innovation since his career began. He is the founder of eDonkey2000, Overnet and Mt Gox. In 2014 he began a new venture called Stellar Development Foundation. The company was cofounded by Joyce Kim and himself.
Stellar Development Foundation
Jed McCaleb began his newest venture in 2014 along side Joyce Kim. The duo named the company Steller Development Foundation and would focus on providing services to low and middle income households that was previously believed only available to the very wealthy. The company’s primary audience are those it has dubbed “the unbanked.” Stellar targets the unbanked and offers them services that most of them didn’t even know about. Stellar provides low-income individuals and house-holds with a way to get sound financial advice.
Stellar accomplishes this goal by utilizing cryptocurrencies and by linking several institutions together. By becoming the middle man, much like his business structuve for Mt. Gov, the company is able to arrange for insitutions to offer the same great service it offers to the wealthy to the poor and middle class. The specifics of his business model consists of seamlessly exchanging currencies between different parties without the need for expensive fees.
Jed McCaleb, along side with Sam Yagan, founded eDonkey2000 in the year 2000. The company revolutionized peer to peer file sharing by implementing a technology that allowed users to download the source from multiple other users at once. This type of technology has taken over the peer to peer file sharing world; the technology is now the industry standard in methodology for how its users share files with torrent platforms.
In 2006, Jed McCaleb discovered that the Magic: The Gathering Online community was lacking a vital service, so he created it. Mt. Gox began as a trading platform for the players of the online card game to trade cards with one another as if they were stocks. The name Mt. Gox was originally named as a shortening of “Magic: The Gathering Oline eXchange.
With so many notable and inventive business ventures all of us are left wondering: What will Jed McCaleb do next?