Brothers Build $1.1 Billion Company Without Venture Capital
EasyA co-founders Phil and Dom Kwok have built a $1.1 billion AI and blockchain developer education company without venture capital. The company is preparing for a direct listing with founders retaining 100 percent equity.
Brothers Phil and Dom Kwok have successfully built EasyA, an AI and blockchain developer education company, to a $1.1 billion valuation without raising any venture capital. The London-born brothers founded the company in 2019 from their childhood bedrooms, and it is now preparing for a direct listing on the stock exchange, with the founders retaining full ownership.
EasyA serves approximately 1.3 million registered users free of charge. The company generates revenue through partnerships with corporations like Google and Ripple, which pay upfront fees to access its developer community and challenges. These contracts, often multi-year, range from mid-six figures to mid-seven figures, allowing EasyA to fund its growth without external investment.
The founders initially experimented with charging users a subscription fee but abandoned the model. They shifted focus to enterprise clients who pay for access to developers and insights into new technologies. This strategy pivot occurred in 2022 when the company relaunched in San Francisco, emphasizing AI and hackathons as key business drivers.
EasyA is now headquartered in San Francisco and employs 30 people, with offices in New York and London. The United States represents its largest market, accounting for 61% of its user base and 80% of its commercial clients.