Reid Garrett Hoffman is one of the most connected personalities in the startup sector. Well, it is safe to say that he is a multitasker as being an entrepreneur, Venture Capitalist, and Author, he has left his mark on various fields. LinkedIn is one of the biggest platforms where one can connect with like-minded people to expand their reach. Now, with many job opportunities to grab, this platform helps people to know what sectors are available for them. All the credit goes to Reid!
Read this article to know about the story of Reid Garrett Hoffman.
Reid Hoffman—The Entrepreneur
Reid Hoffman—Personal Life
Reid Hoffman—Entrepreneurship Journey
Reid Hoffman—Creating LinkedIn
Reid Hoffman—Growth Story of LinkedIn
Reid Hoffman—Life As A Venture Capitalist
Reid Hoffman—FAQ's
Reid Hoffman—Conclusion
Reid Hoffman—Quick Facts
| Name | Reid Garrett Hoffman |
|---|---|
| Born | August 5, 1967 - Palo Alto, California, U.S |
| Age | 52 |
| Citizenship | American |
| Education | Stanford University (BS) Wolfson College |
| Oxford (MSt) | |
| Title | Executive Chairman, LinkedIn |
| Board Member, Microsoft | |
| Net worth | $2.3 billion USD (As of 2021) |
| Wife | Michelle Yee |
Reid Hoffman—The Entrepreneur
Reid is well known for founding LinkedIn. He is the Executive Chairman of LinkedIn and has a net worth of $3.7 billion. He is ranked #159 among the richest people on the planet by Forbes. He is also known as one of the most connected men in Silicon Valley. Reid has been a part of PayPal Mafia, a group that comprises former PayPal founders and employees who have founded and developed additional companies. Well, this group consists of many billionaires who have changed the startup sector!
Apart from handling LinkedIn, he serves on several not-for-profit boards which include- Kiva.org, Endeavor, Second Harvest Food Bank, Stanford University, University of Oxford, Mozilla Corporation, and many more to name.
Reid Hoffman—Personal Life
Reid was born in Palo Alto in California. After completing his schooling, he went on to pursue graduation from the prestigious Stanford University in 1990. There, he managed to win the Marshall Scholarship. He also won the Dinkelspiel Award. Later on, he completed his masters in Philosophy from Wolfson College, Oxford University in 1993.
Reid Hoffman—Entrepreneurship Journey
As he went on to work with the thought of changing the world for a better future, he decided to pursue a career in business and entrepreneurship. Therefore, as to gain experience, he joined Apple Computers in 1994. There, he was a Senior User Experience Architect and was responsible for the design and launch of eWorld International. Later, in 1996, eWorld was acquired by AOL.
After working with Apple for two years, he moved on to join Fujitsu Software Corporation for one and a half years. Post Fujitsu Software Corporation, he went on to start his first venture- SocialNet.com in 1997. The central idea of the venture was way ahead of its time. It was a platform for online dating and matching people with other people of similar interests in their neighborhood.
While he was building the venture, Reid learned that as much it is important to build a product, one must have a decent product distribution strategy in place. Reid was the Member of the Board of directors of PayPal during its initial days. So, when he had to shut down the dating website, he joined PayPal in 2000.
The company knew that Reid was an expert at competing effectively in an extremely competitive environment. Therefore, he was responsible for all the external relationships for PayPal. These include infrastructure, business development, government, and legal issues.
After leaving the mega-brand, he created the biggest Professional Networking Platform- LinkedIn!
Yash Gupta
Reid Hoffman—Creating LinkedIn
Since his initial days, Reid wanted to start a business that would help the professional world to connect. Hence, after leaving PayPal, Reid along with former colleagues from SocialNet and Fujitsu co-founded LinkedIn in December.
LinkedIn is a social networking site that focuses on professional networking. The brand has adopted a Multi-sided Platform that offers solutions to different categories of users. Therefore, the model has something for everyone which makes sure that everyone is happy. LinkedIn allows users to create profiles, add, build, and engage professionals with each other. It also offers Premium Subscriptions for general professionals to keep track of the ongoing activities of the sector.
Yash Gupta
Reid Hoffman—Growth Story of LinkedIn
The company was launched in May 2003. The initial investment was received from Peter Thiel and Keith Rabois. Well, just like any other business, LinkedIn’s initial rise was quite slow. The first few months experienced a signing frequency of just 20 users. However, by late 2003 and early 2004, LinkedIn introduced a feature where a user could upload address books. This attracted customers and accelerated the growth of the company. Later on, Reid added various kinds of features in the company like Groups and tie-up with American Express to boost its offering to various small businesses in the circuit.
In the upcoming years, LinkedIn introduced further developments like Job subscriptions for businesses, public profiles for users, and People You May Know feature. By, 2006, the company had become a household name in the United States. By 2010, the company had become a globally established company and had a valuation of $2 Billion.
Reid Hoffman—Life As A Venture Capitalist
Reid had managed to work up with the entire circuit. Hence, Reid decided to become an investor to give talented people the opportunity through which they could achieve success. Hence, after his tenure with PayPal, he moved on and became one of the most prolific investors in Silicon Valley. His list of investments includes Airbnb, One Kings Lane, Swipely, Coupons.com and many more to name.
Being an angel investor, Reid has invested in more than 70 companies. The investments include some big names like Facebook, Friendster, www.zynga.com, bioscale, and many more! Well, it is a lesser-known fact that Reid was the one who had arranged the first meeting between Mark Zuckerberg and Peter Thiel. Reid was very much impressed with Facebook’s plan and hence decided to invest in the company. But, as he had to manage LinkedIn, he thought that his role in Facebook might be a victim of conflict of interest.
In 2010, Reid joined Greylock Partners. This is a Venture Capital firm that supports new categories of ideas. Reid is known as the most successful angel investor. Well, his vision has helped many companies to grow and leave a mark on the big stage. Being a specialist, Reid has influenced the masses for the betterment of society. Therefore, he is one of the most successful investors and entrepreneurs of the circuit.
Shubham Kumar
Reid Hoffman—FAQ's
Who is Reid Hoffman?
Reid is well known for founding LinkedIn. He is the Executive Chairman of LinkedIn and has a net worth of $3.7 billion. He is ranked #159 among the richest people on the planet by Forbes.
Where did Reid Hoffman go to college?
Reid Hoffman went to Stanford University for his graduation. He completed his master's in Philosophy from Wolfson College, Oxford University in 1993.
How much is Reid Hoffman worth?
Reid Hoffman is a net worth of 230 crores USD (2021).
What is Blitzscaling as defined by Reid Hoffman?
Reid defines “Blitzscaling” as prioritizing speed of growth over efficiency. The key difference from traditional growth strategies, which he calls “fastscaling”, is that “blitzscaling” assumes substantial risks in the pursuit of scale.
How is Reid Hoffman connected to Paypal Mafia?
Reid has been a part of PayPal Mafia, a group that comprises former PayPal employees and founders who have founded and developed additional companies. Well, this group consists of many billionaires who have changed the startup sector!
Reid Hoffman—Conclusion
Reid Hoffman is one of the most successful investors in this generation. He has been a part of all big companies that are still enjoying its success like Paypal, Facebook, LinkedIn and many more. He has been a part of the Paypal Mafia, a group that comprises members who are successful in their respective fields after parting ways from Paypal.
Author: Yash Gupta
Source : https://startuptalky.com/reid-garrett-hoffman-story/
Date : 2021-05-05T17:30:00.000Z