Guy Who Sold Company To Snapchat For $54M Hasn't Touched It

Back in 2014 Garrett Gee and two of his friends sold their company, Scan, to Snapchat for $54 million (£44,316,800).

You know those little black dots that other people can, well... scan, to find you on the app? These guys invented that. Nobody is sure exactly how much of it he received, but it was a hefty amount.

After selling the company, Garrett worked for Snapchat for a while, before deciding it wasn't for him.

CHECK OUT THIS BBC FEATURE ON SNAPCHAT:

Speaking to Business Insider, he said: "After three quick months, I decided to take my life back into my own hands and leave my job.

"Perhaps the corporate life is a better fit for other personality types, but not for me. My mind and soul function best when I'm free and living true to myself, my passions, and my values."

In June 2015 Gee unshackled himself from corporate life and upped sticks to travel the world with his wife, Jessica, and their two young children.

Rather than using his millions to fund the trip, the family sold everything they had, which amounted to around $45,000 (£37,000).

They decided to make that money last for six months on their travels. However, they were so good with their money that they realised five months in that they'd only spent $5,000.

Gee explained: "Fortunately, about this same time, our social media began gaining enough traction that hotels, airlines, and other brands began working with us,

"At first they were just offering us accommodations or flights in exchange for marketing exposure through our social media. But then, as our community continued to grow, they began paying us as well. Right before we had spent through our initial $45,000, we turned the corner and became profitable."

Even now, over two years later, the family still haven't dipped into their Snapchat millions. Their bucket list for 2018 includes going to the World Cup in Russia, visiting Igauzu Falls in Brazil and sailing around the Greek Isles.

It's amazing, really - the family have access to riches that most of us can only ever dream of, yet have chosen to barely touch it.

With the money Snap was bought for, Gee and his family could have bought over 147 million Freddos, 31 Bugatti Verons (once known as the most expensive car in the world) or even their own private island.

Now that's what you call being thrifty.

Original reporting: Mel Ramsay

Featured Image Credit: PA

Chris Ogden

Chris Ogden is a journalist at LADbible. He graduated from the University of East Anglia with degrees in English Literature and Creative Writing before completing his NCTJ Diploma in Multimedia Journalism. Chris has previously written for the independent culture magazine The Skinny, among other publications.

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