Meet the billionaire founders of Grammarly, Max Lytvyn, Alex Shevchenko and Dmytro Lider – The Ukraine natives initially launched the servie to help students and now the AI-based grammar checking app is now used by 30 million every day.

Dmytro Lider, Max Lytvyn and Alex Shevchenko of Grammarly. Photo: Yaroslav Azhnyuk/Facebook

Since Grammarly was founded in 2009, Ukrainian-born entrepreneurs Max Lytvyn and Alex Shevchenko have joined Forbes’ billionaires list. The popular grammar-checking tool bagged US$200 million in funding in November 2021, skyrocketing their net worths to at least US$4 billion each.

Aside from founding Ukraine’s most expensive tech start-up together with Dmytro Lider, and supporting the war-stricken country, what else do we know about them?

1. Grammarly was born from their previous venture, My DropBox
Lytvyn and Shevchenko first crossed paths at the International Christian University in Ukraine. It was in their university days that they developed My DropBox, a plagiarism-detection company. This previous venture inspired the idea for Grammarly. They decided to bring Dmytro Lider on board as a software engineer and made Grammarly available under a freemium model with the option to purchase upgraded versions.

Max Lytvyn, co-founder of Grammarly, is now worth US$4 billion. Photo: Max Lytvyn/Facebook

2. They have impressive educational backgrounds
Lytvyn and Shevchenko moved to the US and Canada respectively to pursue master’s degrees in business administration. The former attended Vanderbilt University’s Owen Graduate School of Management while the latter went to the University of Toronto’s Rotman School of Management. Lider, meanwhile, had previously earned a bachelor’s in computer science and a master’s of science in software engineering from the National Aviation University in Kyiv.

Also read -  After keeping its tracking device switched off for over a month, the $300 million superyacht Alaiya linked to sanctioned Russian oligarch Alisher Usmanov has suddenly appeared in Greece.

Aside from being Grammarly’s co-founders, this terrific trio also holds specific functional titles. Shevchenko serves as the product lead while Lytvyn works as the head of revenue. Lider, on the other hand, is the head of language technology.

Alex Shevchenko, co-founder of Grammarly, got his master’s from the University of Toronto. Photo: Irina Datsenko

3. They initially launched Grammarly to help students
According to Forbes, Grammarly’s talented trio kick-started the San Francisco-based company to particularly help students with their grammar and spelling. Since then, Lider, Lytvyn and Shevchenko have transformed it into an AI-driven grammar checker that has operations across 500,000 applications and websites.

Grammarly has also expanded into spin-off products, including Grammarly Business. At present, the company has more than 600 employees and claims to have 30 million daily active users, according to its website.

4. They raised US$200 million from new investors
Lytvyn and Shevchenko have Grammarly’s newest investors to thank for minting them as billionaires in 2021. The additional US$200 million investment in November from investors such as Baillie Gifford and BlackRock Inc. also catapulted the company’s value to US$13 billion. This super-unicorn has also racked up an excellent list of clients over the years, including Zoom, Cisco and Dell.

5. Their company is extending support to Ukraine
Despite reaching greater heights in the US and the rest of the world, Grammarly has not forgotten its Ukrainian roots. Amid the ongoing war in Ukraine, they continue to pay full salaries and benefits to their employees based in their home country. In March, they also announced that they would be donating all the net revenue they earned from Russia since the war began in 2014, starting with a US$5 million fund. They join other Ukrainian public figures making similar efforts, such as actress Mila Kunis.

Also read -  Mike Tyson bought tigers and Ronaldo a wax statue of himself. Here are the surprising ways in which our favorite athletes spend their many millions

As per Quartz, Lytvyn and Shevchenko have also said that the company has suspended its services in Russia and Belarus, where Russian President Vladimir Putin’s military has established a staging ground for its invasion.

Note: This story was originally published on SCMP and has been republished on this website.

Tags from the story
Written By
First published in 1903, the South China Morning Post is Hong Kong’s premier English language newspaper, providing news 24/7, in-depth and quick scan reads, informative infographics, critical analysis, community discussions plus access to the most comprehensive news archive in Hong Kong. Over the decades it has built an enviable reputation for authoritative, influential and independent reporting on Hong Kong, China and the rest of Asia.