Reid Hoffman Facts (LinkedIn) – #50 Facts

Reid Hoffman Facts – Biography

Reid Hoffman: Wonder Years

1. Reid Garrett Hoffman (Born 1967)

Reid Garrett Hoffman is born on 5th of August, 1967 to mother Deanna Ruth Rutter and father William Parker Hoffman.

As a child, Reid is said to be extremely focused and determined.

He grows up in Barkley, California and starts making his own decisions at a very early age.

2. Reid’s Interesting Childhood

Reid’s childhood is interesting.

His parents are young when they have him, and he in his words “thought of myself as someone who hangs with the adults.”

When he is a baby, his parents attends tear gas demonstrations to which they bring him with them.

Studies of Reid Hoffman

3. Schooling

When Hoffman is 14, tired of his local school, he takes a stand for himself and decides to apply to a private high school called the Putney School to study epistemology.

He does not tell his parents until he is accepted.

“When I got in, I persuaded them to send me. I was directed. I remember sketching out when I was 12 a plan to change the world…”

He collects maple syrup and herded oxen on the school’s dairy farm, which all students work on before graduating.

4. Higher Education

Once done with high school, he gets admission in Stanford University where he does his bachelors in Cognitive Sciences and Symbolic Systems.

He wins Dinkelspiel award and Marshall Scholarship during his studies and finally graduates in 1990.

After graduating, he gets into Oxford University for a master’s degree in Philosophy, graduating in 1993.

5. Wants to Join the Teaching Profession

After his graduation Hoffman wants to do something that can make a difference in the world.

His original plan is to join a career in teaching so that he is able to influence the young minds to become better people.

At the time of his graduation from Stanford, he is sure about becoming a professor, which explains his choice of a degree.

However, over time he changes his mind and enters the business world instead.

6. Decides to Become a Software Entrepreneur

Hoffman does not begin his studies thinking about entrepreneurship.

Ironically, successful entrepreneurs usually do not.

He wants to become a philosopher, and he has won a scholarship to study philosophy at Oxford University.

Once he starts though, he realizes that this is not going to work and decides to become a software entrepreneur.

Beginning of Career of Reid Hoffman

7. Joins Apple Computers-1994

He starts his career by joining Apple Computers in 1994 and his first project is an attempt to create a social network using eWorld.

However, he is not completely successful in his attempt initially as eWorld is sold to AOL in 1996, but it is the beginning of something huge in the future.

8. Hoffman Starts socialnet.com

Hoffman works with Fujitsu for a very small time but a year after eWorld is sold, starts setting up his own business, a company by the name of socialnet.com.

The theme of this website is to make matches and allow people to find others similar to them for dating and marriage.

9. Socialnet.com Receives High Appreciation

The idea of socialnet.com is highly appreciated by a number of software entrepreneurs; Peter Thiel remarks that it is an idea when ahead of time.

It will still take around 7 to 8 years before people are able to understand the true concept behind socialnet.com.

For this reason, the website is not able to gain the same popularity as the present day Facebook.

Reid Hoffman Joins PayPal

10. Hoffman Joins PayPal

While still the head of socialnet.com; Hoffman joins the team of PayPal, an online website for transfer of money all around the world.

In 2000, he completely abandons socialnet.com and joins PayPal as the COO.

At this point in time, Reid Hoffman is already well known for his efficiency as an entrepreneur in a competitive environment.

11. Hoffman Becomes Vice President of PayPal

By the end of 2002, he is the vice president of PayPal, managing all aspects of the business.

Even at the time of acquisition of PayPal by eBay, Hoffman is the main person to carry out successful negotiations between the two parties.

LinkedIn, founded by Reid Hoffman

12. Develops a social networking site: LinkedIn

In the December of 2002, Hoffman combines a team consisting of two of his colleagues from socialnet.com, a fellow employee from Fujitsu and an old class fellow to develop a social networking site for the business and corporate world, which is called LinkedIn.

It is officially launched a year later in May and is a success very quickly.

13. Expansion of “LinkedIn”

Soon after its release, Hoffman’s two very close friends and colleagues at PayPal, Peter Thiel and Keith Rabois invest their money in the company since it is the first business oriented social networking site.

It gives Hoffman a chance to expand his project more and make it bigger than it is before.

14. Hoffman Becomes Chairman and President of Linkedin-2007

At the time of its launch, Hoffman is the CEO of LinkedIn.

Four years later, the company is able to enjoy its first profitable quarter and the same year (i.e. in 2007) Hoffman is made the chairman and president of the company.

15. Hoffman joins Greylock Partners

Hoffman joins Greylock Partners in 2010 and successfully runs a 20 million dollar discovery fund for the company.

He focuses on social gaming, consumer services, payment, online payments and marketplaces, consumer internet and other similar things while working with the Greylock Partners.

16. LinkedIn goes public

In May 2011, LinkedIn goes public by issuing IPOs; Hoffman owns a total stake of around 2.34 billion dollars in the IPOs and he does not include any benefits from Greylock Partners, although he is declared a partner in 2009.

17. Facebook investment of US$ 500,000

Reid Hoffman initiates the business dealings between Mark Zuckerberg, cofounder of Facebook, and his friend, Peter Thiel.

The meeting leads to a Facebook investment of US$ 500,000 by Thiel.

Linkedin’s Success

18. LinkedIn- The Facebook of the Business World

Hoffman is the currently not only the Chairman and President of LinkedIn but also the executive chairman.

A large number of people also call LinkedIn the Facebook of the business world.

19. LinkedIn-A Useful Tool for Making Connections

According to Forbes, LinkedIn is the most useful tool for making connections and linking up job seekers with different successful entrepreneurs.

20. LinkedIn-Fast Growing Network

As of January 2013, the website has over 200 million users in over 200 countries.

It is a very fast growing network, with an approximated new user rate of 2 members every second.

The site gives the registered users an option to invite new contacts and to make connections with the ones already registered on the website.

Investments By Reid Hoffman

21. Hoffman has made Huge Investments in Different Technology Companies

Hoffman is known to be a very insightful person and one of the best angel investors in the past one decade.

He makes a total of 80 different investments in technology companies over the past one decade and every one of them have been a success.

22. Hoffman Invests in Zynga

Apart from Facebook, Reid also invests in the gaming network of Zynga; not only this, he is also part of the board of directors of the company.

He jointly owns the six degrees patent of the company with the CEO, Mark Pincus.

23. Other Investments of Hoffman

He also has a couple of other investments including Flickr, thesixtyone, tagged, Wikia, Permuto, Vendio, onekingslane, Knewton, Ping.fm, digg, IronPort, care.com, wrapp, nanosolar, shopkick and technetto.

Family of Reid Hoffman

24. Spends Time with His Wife on Weekends

With time spent travelling between two cities for work, Hoffman has little time to spend with his wife Michelle Yee.

He schedules time at night and on weekends and makes a point to relax.

He watches movies, reads books, or just spends the time with his wife.

“Saturday night is our date night,” is what he reportedly said about balancing his personal and private life.

25. The Couple’s Decision Not to Have Children

Hoffman and his wife Michelle have decided not to have children.

Hoffman says that due to his heavy workload, he will not be able to commit to his children.

“I couldn’t do this if I had children.”

Michelle Yee works in health care and is part of several organizations as well.

Personal Interests of Reid Hoffman

26. Hoffman Loves Board Games

Everyone needs to relax once in a while.

Hoffman loves board games; in particular, a game called Settlers of Catan is his favorite.

He loves playing it because he says that the game involves techniques that are related to managing a business.

“I think it’s a game that most approximates entrepreneurship.”

27. Hoffman’s Other Interests

Everyone has their weaknesses and so does Reid Hoffman.

However, they are not what you can usually expect from a billionaire.

He loves to eat out at exquisite places, and is known to collect the latest electronic devices.

He also owns five cell phones.

28. Writes Strategic and Business Related Articles

In 2009, he writes an article in the Washington Post by the name of “Let Startups Bail Us Out” which talks about the ways through which the US economy can be bailed out of the economic crisis.

Apart from this, he frequently writes strategic and business related articles on LinkedIn to help youngsters looking for a job.

Reid Hoffman Philanthropist

29. Hoffman is a Part of Kiva.org and Endeavor Global

Much of the work Hoffman is doing is philanthropic.

The programs he creates and works on are a part of his mission to make a “positive and lasting impact on the world.”

He is part of Kiva.org, a micro financing organization, and Endeavor Global, a non-profit organization that seeks out budding entrepreneurs from all over the world and helps support them.

Reid Hoffman Accolades

30. Hoffman’s Ranking By Forbes Magazines

The current worth of Hoffman is known to be around 3.1 billion dollars according to 2013 statistics.

He is ranked amongst the top 500 billionaires of the world and 71st most powerful people in the world according to Forbes magazine.

31. The Third Top Technology Investor in the United States

In May of 2012, Reid Hoffman is declared, the third top technology investor in the United States by Forbes; the magazine describes him as the main contributor in every lucrative media setup on social levels and a “silicon valley uber investor”.

32. Hoffman is Ranked number 3 in the category “Angels”

The daily beast and Newsweek issue a rating of 100 most significant people in the digital media in 2012 along with 10 lifetime achievements.

This rating is known as the “Digital Power Index”.

Hoffman is ranked as number 3 in the list amongst the category “Angels” because of his exceptional success rate in angel investments.

33. Receives the Ernst and Young United States Entrepreneur of the Year Award

Hoffman along with Jeff Weiner is given the Ernst and Young United States Entrepreneur of the Year Award in 2011.

Hoffman is one of those few people who have been able to achieve a lot in a very short time because of their skills and talents.

34. No.17 on the List of the Most Creative People

Reid Hoffman is declared number 17 on the list of the most creative people, which has been issued by Fast Company.

In addition, he is given the David Packard Medal of Achievement Award in 2012 by Tech America and is honored by the Khan Academy along with Salman Khan on World Affair Council and Global Philanthropy Forum 2012.

35. Hoffman is Praised by Businessmen and Entrepreneurs Globally

Reid Garrett Hoffman is the only person in Silicon Valley known for having a seat at every table.

Form a junior product manager at Apple and Fujitsu to an executive at PayPal and LinkedIn, an angel investor, an independent member of the board and even an institutional investor, Hoffman is praised by businessmen and entrepreneurs all around the world.

36. Hoffman’s Book- A New York Times and Wall Street Journal Bestseller

Hoffman co-writes the book, The Start-Up of You: Adapt to the Future, Invest in Yourself, and Transform Your Career.

The book is released in the United States in February of 2012, and as of September 2012, it has sold more than 100,000 copies.

Hoffman’s book also becomes a New York Times and Wall Street Journal bestseller.

37. Dave Goldberg’s Views on Hoffman

According to the CEO of Survey Monkey, Dave Goldberg, Hoffman is the man that you need to go if you are planning to start a new company.

He has the skill to see and analyze situations from different angles, helping him judge how successful a particular investment can be.

Reid Hoffman Inspirational

38. Reid Hoffman is Innovative

Reid Hoffman cannot help but think of new ways to innovate companies.

When he is asked how he fixes Yahoo, the billionaire is ready with answers.

He says that he focuses Yahoo’s resources on creating something new.

Hoffman believes the company has all that is needed for it to continue to succeed, (recognition, traffic, assets) but needs to begin focusing on creating new products.

39. The Technologically Savvy Man

Hoffman is quite the technologically savvy man, and has just as recently as 2011, become a billionaire.

However, unlike many billionaires today, he does not have a yacht or a collection of expensive cars.

He lives in a simple four-bedroom house in Silicon Valley, where many other intellectuals have also taken up residence.

40. Hoffman is Indifferent to Monetary Success

Hoffman for some time drives the same Acura he has bought more than ten years ago.

He has been quite successful at making money, but he is indifferent to the monetary success.

He has recently invested in an Audi S7, stating “The S7 would be the most extravagant purchase I’ve made for myself.”

41. Gives Lectures on Entrepreneurial Skill Development

Hoffman regularly gives lectures at Stanford University about entrepreneurial skill development.

Not only this, he also gives lectures at Harvard, Oxford, MIT and other universities to inspire students into finding their own talents and abilities.

42. Hoffman Wants People to Think About Lives of Entrepreneurs

Hoffman’s projects work towards a certain goal.

He says that he wants people to “think about our lives as entrepreneurs… People sometimes think it’s morally wrong to talk about investing in themselves.”, which he finds absurd.

“In a flatter world with more competition, how do you succeed?”

Other Facts about Reid Hoffman

43. Thiel HelpingHoffman to Lose Weight

Hoffman’s friend, Peter Thiel, is trying to help Hoffman lose weight.

Thiel says that Hoffman spends too much time working and has “definitely neglected himself.”

44. Hoffman’s Concerns About His Health

Thiel, with a few other friends organize a personal trainer for Hoffman, which help a little.

Hoffman himself is now trying to opt for healthier options when it comes to diet.

Nevertheless, he is still a foodie, “The point of life is sometimes to spoil yourself.”

45. He is Active Outside the Business community

He is part of the board of directors of Mozilla Firefox, Do something, Endeavor Global along with taking time out to support QuestBridge.

In this way, he has been quite active in the world outside the business community as well; his main aim is to maintain a positive energy for the people around him.

46. Has Attended a Number of Television Shows

He is also a very frequent attendant of the World Economic Forum and has been a part of a large number of television shows and current affairs programs including Fareed Zakaria’s show, the Charlie Rose Show and TED conferences.

47. Hoffman’s Friendship with Mark Zuckerberg

Not so surprising is Hoffman’s friendship with Mark Zuckerberg, one of the co-founders of Facebook.

“I know Zuck,” he says, “and I know he’s trustworthy and has no nefarious intent.”

Their friendship begins in 2004, when Hoffman becomes quite interested in Facebook.

48. Hoffman Uses an Odd Interviewing Technique

Hoffman has an odd, but effective technique he uses when he is interviewing executives.

He has them write their obituary, what they want to be known for when they die.

He says that he wants the executives working for his company to be focused on the bigger picture, what they want to accomplish over a lifetime, not just what they want to accomplish during their time with the company.

49. Hoffman Uses Very Large Monitors

Hoffman uses very large monitors.

He says that this helps him see his ideas more clearly all together and helps him get his work done more effectively.

“I’ve always been a fan of using very big monitors, because I write an outline and then I write the thing next to it, and I write really quickly.”

50. Hoffman Organizes “The Weekend to be Named Later”

Since Hoffman is a young boy, he has always planned to find a way to change the world.

Hoffman, with a group of others, organizes “The Weekend to be Named Later”.

This is a group of intellectuals who get together solely to think about positive ways to bring change in the world.