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Tim Hwang

American businessman and entrepreneur

Tim Hwang is an influential American entrepreneur, best known as the Founder and CEO of FiscalNote, a global technology and media company that specializes in providing policy information and analytics. Born on February 20, 1992, in East Lansing, Michigan, to South Korean immigrants, he later moved to Potomac, Maryland, where he began his public service career at a young age.

Education and Early Career

Hwang graduated from Princeton University, where he studied at the Woodrow Wilson School of Public and International Affairs. He was actively involved in various initiatives, including founding the National Youth Association and starting Operation Fly, a nonprofit organization aimed at helping underprivileged children. His political career began with the Obama 2008 campaign, and shortly thereafter, he was elected to the Montgomery County Board of Education at just 17 years old, managing a significant budget and overseeing thousands of employees.134

FiscalNote

In 2013, while still completing his degree, Hwang co-founded FiscalNote with two high school friends. The company initially focused on tracking state legislation but has since evolved into a comprehensive platform that offers data, news, and analysis about government actions worldwide. Under Hwang's leadership, FiscalNote has raised over $230 million in venture capital and has become the largest tech employer in Washington, D.C., serving a diverse clientele, including Fortune 100 companies and government agencies.123

FiscalNote made headlines in 2021 when it went public on the NYSE, making Hwang the youngest AAPI founder and CEO of a public company at that time.24

Recognition and Contributions

Hwang has received numerous accolades for his work, including being named in Forbes 30 Under 30 and recognized as a World Economic Forum Technology Pioneer. He is also involved in various philanthropic efforts, serving on boards such as the Greater Washington Community Foundation and the Afterschool Alliance.135

Hwang's journey exemplifies a blend of entrepreneurship and public service, showcasing his commitment to leveraging technology for societal benefit.

Highlights

Mar 12 · linkedin

This morning in FiscalNote's quarterly earnings release we announced the $103 million sale of our Board[dot]org division, netting the company a 9.5x cash-on-cash return and a 125% IRR in under three years since we acquired the business as well as exceeding expectations for Adjusted EBITDA expectations in the fourth quarter for the year.

Acquired by FiscalNote in 2021 for $10 million in cash and $4.3 million in convertible securities ($14.3 million in total consideration), the total consideration represents approximately a 7x revenue multiple based on 2023 ARR. The divestiture, which represents about 10% of our revenue, is a clear illustration of the stark undervaluation of FiscalNote in the public markets. Further, it is evidence of our ability to deploy capital to drive the strongest return on investment over time.

Over the past 12-18 months we have been focused on driving Adjusted EBITDA profitability and rationalizing our cost structure. Now, as we pivot our focus to accelerating growth, we are transforming and simplifying our organization by aligning our sales teams, streamlining our product portfolio and optimizing our capital structure. Most importantly, we are driving new levels of innovation, combining AI and human intelligence to provide the data, intelligence, analysis, and workflows that our customers need to navigate and take action within the large and complex global political and regulatory environment.

With an enhanced balance sheet and a simplified product portfolio, we are well positioned to drive ongoing profitability in 2024 and accelerate growth in 2025 and beyond! Great work to all our global teams on another great quarter and 2023!

Aug 15 · linkedin

It’s a pleasure to be back on the floor of the New York Stock Exchange celebrating FiscalNote’s one year anniversary since going public and 10th anniversary in business.

Thank you to the incredible employees, customers, shareholders, and partners who have helped us along our journey. Looking forward to another amazing 10 years as we grow and innovate for the future!

Related Questions

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Tim Hwang
Tim Hwang, photo 1
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Location

New York, New York, United States