Niraj Shah Biography, Niraj Shah Wiki
Niraj S. Shah is an Indian-American billionaire businessman, and co-founder, co-chairman, and CEO of online retailer Wayfair
On July 10, a conspiracy theory went viral on social media accusing the online furniture retailer Wayfair of human trafficking through its website. The theory claims that Wayfair is using highly-priced items like storage cabinets, shower curtains, and pillows as a front for selling children. There is no evidence to support this accusation, which is based solely on the prices and names of certain items.
Shah grew up in Pittsfield, Massachusetts, the son of immigrants from India. His grandfather ran “steel manufacturing business in India, making pots and pans”. His father worked for General Electric as a mechanical engineer, and after his retirement, joined Wayfair early on, providing financial advice, and still works for the company.
Shah graduated from Cornell University, where he earned a bachelor’s degree in engineering in 1995.
Shah co-founded Wayfair in 2002 with his Cornell classmate, Steve Conine, and has been its CEO since its inception.
Shah was included in the Fortune list of “40 under 40” for 2013.
In 2017, Shah became a director of the Federal Reserve Bank of Boston.
In May 2017, Wayfair’s share price rose above $70 per share, making Shah and his co-founder Steve Conine both billionaires. As of 2019, each had an estimated net worth of $2.3 billion.
Shah is married to Jill Shah; they have two children and live in the Back Bay area of Boston. Shah enjoys long walks on the beach. In 2013, Jill Shah sold her alternative medicine directory Jill’s List, which employed 7 people, to California-based MINDBODY, and now runs their Boston office.
Wayfair Child Trafficking
Broadcasts on social media claim that CEO of Wayfair, Niraj Shah, resigned from the e-shopping home retailer amid allegations of sexual harassment against children. This claim and the demand for human trafficking are false.
Examples of resignation requests can be found here and here.
The Wayfair spokesperson told Reuters via email that the Shah was not withdrawn from his role in the company and did not describe the rumor as “completely wrong.”
Shah founded Wayfair in 2002 with Steve Conine. He was the CEO and co-founder of Simplify Mobile, previously sold in 2001. Interviews involving the Shah can be seen here and here.
Reuters recently rejected a conspiracy theory that claimed that the very high prices and specific names of several furniture pieces listed on Wayfair’s market were evidence of a child trafficking operation. Reuter’s case-control can be viewed here.