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Reid hoffman paypal9/12/2023 ![]() Yet Twitter went public and achieved a market capitalization that peaked at nearly $ 37 billion, while Tumblr was acquired by Yahoo!-another start-up that used blitzscaling to become a scale-up, only to decline and fade away-for “only” $ 1 billion. Both had a major impact on popular culture. Both grew at a remarkable rate after establishing product/ market fit. ![]() Both had brilliant, product-oriented founders in Evan “Ev” Williams and David Karp. Privacy, he claims, is primarily an issue with old people.“Consider the case of two very similar companies, Twitter and Tumblr. He believes social networking will remain the dominant platform on which to build new apps and services and looking ahead (yes, Web 3.0 is already being discussed) sees data-especially personal data derived from people's activities online-as fueling the next boom. ![]() Hoffman is a self-diagnosed "CrackBerry" addict (five smartphones, two Macs, a PC, an iPad and an Android Tablet) who rarely vacations, spending most weekends fielding ideas from young entrepreneurs. He also co-founded the professional networking site LinkedIn, which has over 100 million users and a market cap of $8 billion thanks to its recent red-hot IPO. One of his earliest strikes was PayPal, where he served on the executive team and cashed out millions when it was bought by eBay in 2002. The 44-year-old venture capitalist, known as "the most connected person in Silicon Valley," has invested in some 114 tech startups since 1995, including juggernauts like Facebook, Flickr, Groupon and Zynga, both on his own and as a partner in the venture firm Greylock Partners. ![]() Reid Hoffman founded his first social site, called SocialNet, before Mark Zuckerberg had even started high school and has been in the vanguard of the social-media movement ever since. ![]()
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