At its core, the concept of Blitzscaling is about growing at a rate that is so much faster than your competitors, that make you feel uncomfortable. Blitzscaling is a business concept and a book written by Reid Hoffman (LinkedIn Co-founder) and Chris Yeh. Reid Hoffman is the author of Blitzscaling. Hoffman is also associated with Endeavor Global, which identifies and supports entrepreneurs in emerging markets. He currently serves on the boards of the microlending service Kiva and the social change organization Do Something. In more recent years, Hoffman has been involved with philanthropic projects. Acquired by Microsoft for $27 billion in 2016, LinkedIn might now be worth anywhere between $100-150 billion. In fact, by 2022, with over 850 million members, LinkedIn generated over $6 billion in revenues through its Talent Solutions and over $5 billion through its Marketing Solutions (B2B advertising platform). In addition, LinkedIn is the most successful B2B advertising platform. LinkedIn is a two-sided platform running on a freemium model, where to unlock unlimited search and other features, you need to switch to a paid account. LinkedIn was then acquired by Microsoft in June 2016 for $26.2 billion, with Hoffman taking a seat on the board. Shortly thereafter, Hoffman co-founded LinkedIn – one of the first business-oriented online social networks. At the time of the eBay acquisition in 2002, he was executive vice president. Hoffman joined PayPal as its COO in 2000, handling all external communications. He founded the online review site Yelp with former colleague Russel Simmons after contracting the flu and experiencing difficulty finding a good doctor. Stoppelman was another member of the PayPal Mafia to benefit from the eBay acquisition – at least indirectly. He eventually attained the title of Vice President of Engineering. Jeremy Stoppelman had a very early role at PayPal, joining the company as an engineer while it was still known as X.com. The company helps students and graduates develop viable business ideas. In 2008, Karim founded Youniversity Ventures with early PayPal investors Kevin Hartz and Keith Rabols. Once YouTube was acquired by Google, Karim sold his shares which at the time were worth $64 million. Karim continued to act as an advisor while studying computer science at Stanford University. Once his tenure ended, Karim founded YouTube with former PayPal colleagues Steve Chen and Chad Hurley. Jawed KarimĪt PayPal, Karim was responsible for implementing the company’s real-time anti-fraud system. Thiel is also the co-founder of Palantir Technologies, a software and data integration company with clients in the United States Government, military, intelligence, and police. His original $500,000 investment would now be worth approximately $9 billion, though the billionaire reduced his holdings by 81% in 2020. Thiel earned $55 million from his 3.7% stake in PayPal after it was sold to eBay, after which he created the hedge fund Clarium Capital and became the first outside investor in fledging Facebook. Often referred to as the “Don” of the PayPal Mafia, Peter Thiel is one of the original co-founders of PayPal. Making Elon Musk’s net worth well past the hundred billion-dollar mark. Most of Elon Musk’s wealth comes from Tesla, as he’s the major shareholder for the company. After eBay acquired PayPal for $1.5 billion in 2002, Musk used his personal wealth to fund his new ventures: Tesla and SpaceX. Elon Musk has made most of his money by investing in ideas and companies he is passionate about. Tesla started as an electric sports car niche player, eventually turned into a mass manufacturing electric car maker. He founded other companies like Tesla (he didn’t start it but became a major investor in the early years) and SpaceX. After selling his first startup, Zip2, in 1999, he made $22 million, which he used to found X.com, which would later become PayPal, and sell for over a billion to eBay (Musk made $180 million from the deal). Who is the richest of the PayPal Mafia?Įlon Musk Elon Musk, seen as one of the most visionary tech entrepreneurs from the Silicon Valley scene, started his “career” as an entrepreneur at an early age.Digital Business Models Podcast by FourWeekMBA.Business Strategy Book Bundle By FourWeekMBA.An Entire MBA In Four Weeks By FourWeekMBA.100+ Business Models Book By FourWeekMBA.
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