Eddy Lu Net Worth – $5 million
What is Eddy Lu’s net worth?
Eddy Lu is a serial entrepreneur and investor from Pasadena, California, who left his high-paying corporate job to pursue his own path in life.
Despite a series of failed entrepreneurial experiences, Eddy found success as the co-founder and CEO of GOAT Group, a successful online marketplace for high-end secondhand sneakers, accessories, and apparel.
Read on to learn more about Eddy Lu’s net worth, his early life, his many entrepreneurial ventures, and how he got to where he is today.
The Origin Story
Eddy Lu was born in Pasadena, California.
He was an only child of an immigrant family, and his family always pushed him to stay close to home and work a corporate job. However, Eddy had other dreams for himself.
Lu attended college at the University of California, Berkeley, from 1999 to 2003, majoring in computer science.
Immediately after graduating, he began working as a consultant for Deloitte Consulting.
He worked for this company for 2 years before leaving to pursue a different type of work.
In 2005, he began working for Lehman Brothers doing equity research.
However, he only stayed at this company for one year before deciding to begin his entrepreneurship journey by purchasing the franchise called Beard Papas.
Beard Papas is a Japanese chain that is known for its fresh and natural cream puffs.
He was the owner of the franchise until 2010.
Eddy also had a series of failed entrepreneurship experiences, including creating cheap gaming apps, until he and his friend, Daishin Sugano, stumbled upon an extremely profitable niche market when Sugano accidentally purchased fake collector sneakers.
In 2010, Eddy Lu co-founded GOAT Group, an online marketplace that operates as three different brands: GOAT, Flight Club, and Alias.
GOAT Group is essentially a resale marketplace that focuses on making the process of purchasing secondhand sneakers, accessories, and apparel more aesthetic, trustworthy, and accessible to millions of members around the world.
GOAT Group is based out of Los Angeles, California.
GOAT Group quickly became a successful and extremely profitable business adventure for Lu.
The company started small but grew into a large platform with millions of users and hundreds of staff members.
In 2018, Lu commented on this growth, saying, “It is funny because we did an all-hands meeting yesterday, and you’re talking, and there’s a hundred-something people in the audience as opposed to just two years ago when we had less than twenty people.”
In addition to GOAT Group, Eddy also co-founded a mobile app called GrubWithUs, a social networking app that revolves around places (restaurants, bars, activities) that people want to try and matches people with other people who want to go to the same places.
The app was launched in 2012 and was relaunched under the name Superb in 2014.
Not much is known about Eddy’s personal life as of now, but hopefully, more information will be shared in the future.
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Eddy Lu – Net Worth
So, how much is Eddy Lu worth?
As a serial entrepreneur, Eddy has had many different sources of income over the years.
His main sources of income currently include his job as the Co-founder and CEO of GOAT Group, his role as a co-founder of the GrubWithUs App, and his investments in other companies.
Co-founder and CEO of GOAT Group
First, Eddy Lu is the co-founder and CEO of GOAT Group.
The GOAT Group is an online marketplace that sells verified sneakers and accessories to collectors and high-end buyers.
According to Comparably, the average salary of an executive at GOAT Group makes over $232,000 a year.
As this is an average, it can be inferred that Eddy’s salary as the CEO is much higher than that.
Co-founder of the GrubWithUs (Superb) App
Eddy is also a co-founder of the GrubWithUs App, an app designed to connect people who are interested in visiting the same place or location.
The app was later changed to Superb with a few modifications to how the app worked.
Eddy Lu is also an investor in other businesses and startups.
So far, he has invested in three main companies.
The first is called “Outer,” and it is a company that sells outdoor furniture.
The second is called “dot.LA,” a news company that promotes and highlights innovation in Los Angeles.
The third was called “Handle” and deals with financial management for construction companies.
Therefore, Eddy Lu has an estimated net worth of $5 million.
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