Steven Bartlett (businessman)

Steven Cliff Bartlett (born 26 August 1992) is a British-Nigerian entrepreneur and podcaster. He is the founder of Thirdweb, Flight Story and Flight Story Fund.[1][2] He was the co-founder and co-CEO of Social Chain AG, but stepped down as CEO in 2020.[3] In 2019, he began appearing as an investor on the BBC One show Dragons' Den.[4][5] He also runs The Diary of a CEO podcast.[6]

Steven Bartlett
Bartlett in Brighton, England in 2021
Born
Steven Cliff Bartlett

(1992-08-26) 26 August 1992
NationalityBritish
Occupations
Known forSocial Chain
Dragons' Den
AwardsForbes 30 Under 30 (2020)
Websitestevenbartlett.com

Early life and education

Steven Cliff Bartlett[7] was born on 26 August 1992[8] in Botswana to an English father and a Nigerian mother.[9] His mother left school aged seven and could not read or write; his father is a structural engineer.[10] He moved to Plymouth, England at the age of two, where he grew up, attending a secondary school, Plymstock School, and a sixth form.[11][12] He went to study at Manchester Metropolitan University, but dropped out after one lecture.[12][13]

Career

In 2013, Bartlett founded Wallpark.[13]

In 2014, Bartlett co-founded Social Chain, a social media marketing company based in Manchester, UK, with Dominic McGregor.[3][14]

In 2017, he created a podcast series called The Diary of a CEO, which has gained popularity in the United Kingdom.[15] Bartlett's claims in his podcast have brought scrutiny, with James Marriott of The Telegraph describing him as "a businessman in the tradition of Donald Trump: better at building media hype than actual companies".[16]

In 2019, Social Chain and German online retailer Lumaland merged to become The Social Chain AG, listing on XETRA and the Düsseldorf Stock Exchange.[14] The listing valued the business at over $200 million.[17] Bartlett's website initially claimed that he took Social Chain public at age 27, before leaving the company after it reached a valuation of $600 million. These claims were subsequently retracted after The Times reported that Bartlett had left the business more than a year before the floatation, and was not named in its prospectus.[18] In February 2023, Social Chain was acquired by Brave Bison for an initial consideration of £7.7 million.[19]

In 2019, he featured in the Channel 4 series The Secret Teacher,[20] going undercover at a school near Liverpool as a teacher.[21]

In December 2020, he created a private equity company called Catena Capital,[22] then joined the board of directors of Huel, a £72 million food replacement company.[23] Bartlett, joins the nutrition company as a non-executive director.[2] In May 2021, it was confirmed that Bartlett, aged 28, would be the youngest-ever investor on the long-running BBC show Dragons' Den.[24]

In 2022, Chloe Bowen writing in Cosmopolitan reported that Bartlett's Diary of a CEO podcast was receiving "a mixed reaction from listeners" after Bartlett had critiqued Gen Z work ethic, with Bartlett saying that "I fear that when I'm hiring people that are in that generation I almost need to go to an extra length to check that they can cope with a high intensity culture where demands might come on a Saturday".[25]

In 2023 Steven Bartlett accompanied Prince William on Royal visits in Bournemouth after being announced as an advocate of his foundation homewards.[26]

Projects

Thirdweb

Thirdweb, a Web3 startup founded by Bartlett, raised $5m in seed investment and an additional $24 million in a Series A funding round. The funding round valued the startup at $160 million.[27] The funding was led by Katie Haun's $1.5 billion crypto fund, with participation from investors including Coinbase Ventures, Shopify, and Polygon. The company aims to simplify the process of building decentralized applications on the blockchain.[1]

Flight Story Fund

Bartlett launched a $100 million fund called Flight Story Fund for tech investment.[28] The fund claims to support diverse founders and high-growth startups in blockchain, biotech, health, commerce, technology, and space sectors. The fund had a stated goal to invest in around 20 companies, offering small stakes at discounted valuations in exchange for support from previous founders who are LPs in the fund.[2]

Critics

Breaching guidelines on advertising

The BBC, which currently airs The Dragons Den, reprimanded Bartlett in March 2022 for breaching BBC guidelines on advertising. In a statement, they told The Radio Times: "We have clear guidelines around talent's commercial activity while working with us. Steven has been reminded of the guidelines." In a statement, Bartlett addressed the issue, adding: "This was a genuine oversight on my part. The posts have now been taken down.[29]

The Advertising Standards Authority took action against Bartlett in August 2022 for breaching the CAP Code (Edition 12) rules 2.1, 2.3 and 2.4 in which he covertly advertised meal replacement firm Huel. The ASA ruled that the advertisement must not appear again in its current form and subsequently advised Bartlett and Huel to "ensure that they made clear the commercial intent of advertising content in podcasts in future, for example by including a clear and prominent identifier such as "advertisement" and making sure the break from editorial content to the ad was clearly and audibly identified."[30]

Exaggerated valuation claims

In 2019, the Financial Times reported that Steven and Wanja Oberhof would jointly manage Social Chain AG which was valued at €186m at the time that it floated on the Dusseldorf Stock Exchange.[31]

Steven has been critiqued by Sarah Manavis, writing for the New Statesman, as an entrepreneur who "styles himself as a business guru but beneath the clichés lies a thinly veiled craving for celebrity".[32]

James Hurley, Enterprise Editor of The Times, said in his investigation that "the rise of Social Chain AG to a nine-figure valuation may owe more to mattresses and a wealthy 65-year-old media tycoon than Bartlett’s leadership."[18] On 13 February 2023, The Times reported that Bartlett is not the tycoon he claims to be built and floated Social Chain with a market valuation in excess of $600 million.[18] On 14 February 2023, Steven Bartlett reported for The Times that he retains a “significant” shareholding in Social Chain AG and that he was under contract to work for the company “on a range of strategic matters” at the time of the $600m valuation, including the up-listing to the Prime Standard of the Frankfurt Stock Exchange, for which he received a “further package of virtual shares/options”.[18]

Books

In 2021, Bartlett released his debut book, Happy Sexy Millionaire,[33] which was a Sunday Times bestseller.[34]

In 2023, Bartlett released his second book, The Diary of a CEO: The 33 Laws of Business and Life,[35] where he recollects the knowledge gained through the podcast of the same name and condenses it into a published print version. In a review of his 2023 book, The Diary of a CEO: The 33 Laws of Business and Life, Private Eye described Bartlett as "the king of self-mythologisation", summarised the book as "a grisly minestrone of every other management book you’ve even read", and concluded that "His real business, clearly, is Brand Bartlett".[36]

Recognition

In 2018, the digital marketing community Econsultancy named him "The most influential figure in the industry."[11] In 2020 he was inducted into the Manchester Hall of Fame. In the same year he was included in the Forbes 30 Under 30 list.[37] Bartlett is regularly booked for public speaking engagements.[17]

References

  1. Burroughs, Callum (25 August 2022). "Mark Cuban backed Steven Bartlett's new Web3 startup in 2021. Now, Thirdweb just raised $24 million in a round led by Haun Ventures with this 11-slide pitch deck". Business Insider. Retrieved 19 March 2023.
  2. Burroughs, Callum (19 January 2023). "Diary of a CEO host Steven Bartlett has raised a $100 million fund to back the next generation of Europe's unicorn founders". Business Insider. Retrieved 19 March 2023.
  3. Anon (2021). "Steven BARTLETT personal appointments". gov.uk. London: Companies House. Archived from the original on 28 January 2022. Retrieved 9 November 2021.
  4. Mantock, Rachel (2021). "New investor Steven Bartlett says his digital background gives him 'an edge' on Dragons Den". inews.co.uk. Archived from the original on 8 June 2021. Retrieved 9 November 2021.
  5. Lewis, Isobel (2021). "28-year-old Steven Bartlett joins Dragons' Den as show's youngest ever Dragon". The Independent. Archived from the original on 25 May 2022. Retrieved 9 November 2021.
  6. Charlton, Graham (3 December 2021). "Who Were Steven Bartlett's Favourite Guests on Diary of a CEO?". www.martechalliance.com. Archived from the original on 28 February 2022. Retrieved 28 February 2022.
  7. Wares, Alan (7 September 2023). "Steven Bartlett: the enigma - Platinum Media Group". Platinum Media Group. Retrieved 15 September 2023.
  8. Bartlett, Steven Cliff [@StevenBartlett] (26 August 2020). "28! Thank you for all of the birthday messages / DMs" (Tweet). Retrieved 15 September 2023 via Twitter.
  9. Samuelson, Kate (2 March 2022). "Steven Bartlett: from dropout to millionaire". The Week UK.
  10. Khomami, Nadia (6 January 2022). "How Steven Bartlett went from dropout to youngest ever Dragons' Den investor". The Guardian.
  11. Staff Reporter (2021). "5 things to know about The Social Chain CEO Steven Bartlett, the youngest ever Dragon". UK Tech News. Archived from the original on 17 October 2021. Retrieved 17 October 2021.
  12. Scotty (14 November 2019). "Interview With Steve Bartlett, CEO of the Social Chain Group". logros.co.uk. The Logros. Archived from the original on 5 January 2022. Retrieved 17 October 2021.
  13. Barrie, Thomas (2021). "Steven Bartlett: 'If you want a successful business, you have to instil a culture of learning'". gq-magazine.co.uk. GQ. Archived from the original on 16 December 2021. Retrieved 9 November 2021.
  14. Prior, David (17 August 2020). "Co-founders Steven Bartlett and Dominic McGregor to leave Social Chain". prolificnorth.co.uk. Prolific North. Archived from the original on 15 January 2022. Retrieved 17 October 2021.
  15. Rea, Samantha (15 August 2023). "How I Manage My Money: Steven Bartlett 'lives lean' on £90k an hour and spends £500 on gyms". inews.co.uk. Retrieved 28 September 2023.
  16. Marriott, James (28 September 2023). "The Diary of a CEO podcast review — earnest but empty philosophising". ISSN 0140-0460. Retrieved 28 September 2023.
  17. Anon (2020). "Steven Bartlett". Forbes. Archived from the original on 13 May 2020. Retrieved 9 November 2021.
  18. "Why Steven Bartlett is not the tycoon he claimed". The Times. Retrieved 14 February 2023.(subscription required)
  19. "Brave new world as Social Chain is sold". The Times. Retrieved 14 February 2023.(subscription required)
  20. The Secret Teacher (2 June 2018). "Secret Teacher: teaching children without play was soul-destroying". The Guardian.
  21. "The Secret Teacher: Episode 3: Social media marketing magnate Steven Bartlett goes undercover at a cash-strapped school in Liverpool". channel4.com. Channel 4. Archived from the original on 14 January 2022. Retrieved 14 January 2022.
  22. "Steven Bartlett net worth, girlfriend and everything else about him in 2022". Unifresher. Retrieved 7 May 2022.
  23. Robinson, Jon (9 February 2021). "Jon Robinson Social media guru Steven Bartlett joins fast-growing food replacement brand Huel". North West Business Editor. Archived from the original on 25 April 2022. Retrieved 7 May 2022.
  24. Virk, Kameron (20 May 2021). "Dragons' Den: Why new Dragon Steven Bartlett won't be wearing a suit". bbc.co.uk. BBC News. Archived from the original on 19 October 2021. Retrieved 17 October 2021.
  25. ""The least resilient generation": Steven Bartlett divides opinion over "offensive" Gen Z comment". Cosmopolitan. 3 October 2022. Retrieved 4 October 2023.
  26. "Watch: Prince William given surprise kiss by Gazza". The Telegraph. Retrieved 8 September 2023.
  27. Lunden, Ingrid (25 August 2022). "Thirdweb raises $24M at a $160M valuation from Haun Ventures, Shopify and Coinbase for its web3 development kit". TechCrunch. Retrieved 19 March 2023.
  28. Prescott, Katie (19 January 2023). "Dragon Steven Bartlett launches £100m fund for entrepreneurs". The Times. Retrieved 19 March 2023.
  29. Morris, Lauren (8 March 2022). "Dragons' Den star says BBC sponsorship rule breach was 'genuine oversight'". Radio Times. Retrieved 15 February 2023.
  30. "Huel Ltd". www.asa.org.uk. Advertising Standards Authority. Retrieved 16 February 2023.
  31. "Social Chain agency links up with German retailer Lumaland". Financial Times. Retrieved 14 September 2023.
  32. Manavis, Sarah (14 March 2022). "Steven Bartlett's self-help guide to helping himself". New Statesman. Retrieved 15 February 2023.
  33. "Happy Sexy Millionaire: Unexpected Truths about Fulfill…". Goodreads. Retrieved 12 October 2023.
  34. Stephenson, Hannah (30 June 2021). "Dragons' Den newcomer Steven Bartlett: I'm not particularly bothered about what other people think of me". irishnews.com. The Irish News. Archived from the original on 5 January 2022. Retrieved 5 January 2022.
  35. "The Diary of a CEO: The 33 Laws of Business and Life". Goodreads. Retrieved 12 October 2023.
  36. Telford, William (18 September 2023). "Steven Bartlett's new book has been savaged". PlymouthLive. Retrieved 4 October 2023.
  37. Wood, Alex (17 March 2020). "30 Under 30: Meet The European Media & Marketing Moguls Of Tomorrow". Forbes. Retrieved 19 March 2023.
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