Phoebe Gates is positioning herself to make a name for herself in the tech world through her startup, Phia, an AI-driven shopping assistant. At just 23 years old, Gates, the youngest daughter of Microsoft co-founder Bill Gates and philanthropist Melinda French Gates, has raised an impressive $35 million for her venture, which has quickly achieved a valuation of approximately $185 million.
In a candid discussion on Yahoo Finance’s podcast, she emphasized her desire for Phia to stand independently of her family legacy. “I have a chip on my shoulder,” she said, reflecting a determination to navigate the competitive landscape of Silicon Valley based on merit rather than her well-known surname. This commitment to authenticity stems from a personal drive to prove herself in a world where elitism often casts long shadows.
While her father has faced renewed scrutiny over his past associations, particularly concerning Jeffrey Epstein, Phoebe chose not to address these allegations directly during the interview. However, her mother, Melinda French Gates, had recently stated that her ex-husband needs to respond to questions regarding Epstein after it was disclosed she received $8 billion toward her philanthropic initiatives as part of their divorce settlement.
Despite her family background, Phoebe is keenly aware of the importance of teamwork in achieving success. “From my dad, I’ve really learned that your team is the core of what you’re building. You can’t do anything without an incredible team,” she shared.
Co-founded with her Stanford roommate, Sophia Kianni, Phia functions as a comprehensive shopping assistant that integrates with browsers like Chrome and Safari. The app efficiently compares prices across thousands of retail and resale websites, helping consumers, particularly young women who value their time and resources, find the best deals. This innovative approach emerged from brainstorming sessions in their Stanford dorm, blending Gates’ passion for women’s empowerment with Kianni’s commitment to sustainability.
Since its launch, Phia has experienced rapid growth, attracting hundreds of thousands of downloads shortly after its introduction. The recent funding round led by Notable Capital, along with participation from esteemed firms like Kleiner Perkins and Khosla Ventures, underscores a thriving interest in AI technologies, particularly those that streamline everyday tasks.
In a bid to de-emphasize her family wealth, Phoebe has opted not to accept financial support from her parents for this venture. Instead, she has focused on attracting external capital, even as some investors have shown more interest in her personal life than her business achievements. This focus on her professional identity has not been without challenges; during meetings, she and Kianni have been confronted with questions regarding their future family plans, a scenario that transformed into frustration for the duo. Her mother’s advice—”Get up or get out the game”—has become a guiding mantra for Phoebe as she navigates these discussions.
Ultimately, Phoebe Gates aims to redefine expectations surrounding her identity and capability in the tech industry. She is committed to proving that Phia is not merely another product representing inherited privilege but rather an innovative platform that resonates with consumers. “The chip on my shoulder is not only proving myself but building something, you know, novel and unique that consumers actually love,” she asserted, reinforcing her ambition to carve out her own legacy in a highly competitive field.
