Who is David Sacks?
David Sacks is a tech entrepreneur and investor. He was the former COO of PayPal and is currently the co-founder and General Partner at Craft Ventures and cohosts the ‘All In’ podcast, a podcast focused on SaaS. David is believed to have an estimated net worth of $200 million.
David, whose middle name is Oliver, was born on 25th May 1972 in Cape Town, South Africa. While young, his family moved to Tennessee in the USA. He’s a Stanford economics graduate and holds a Doctor of Law degree from the University of Chicago Law School.
In 1999 joined Peter Thiel at PayPal, becoming the company’s first COO. He’s one of the less prominent faces of the famed ‘PayPal Mafia.’
He proved to be a massive asset to PayPal, overseeing the formation and development of key departments, including Sales & Marketing, Customer Service, and Human Resources. He helped grow the company‘s annual revenue to over $200million within three years, leading to eBay buying it for $1.5 billion in 2002.
David is a serial entrepreneur. In 2008 he launched Yammer, a social networking startup for the office (sound familiar?), which became one of the fastest growing SaaS tools in history, emerging number one in TechCrunch’s TechCrunch50. It was later acquired by Microsoft in 2012 for $1.2billion. He also created Geni.com in 2006, also acquired later on by MyHeritage.
David’s knack for turning things around with his high work ethics, discipline and values saved Zenefits from spiralling down during a crisis period in the company. He helped stabilize the company during his stint as interim CEO, where he introduced Z2, an HR SaaS product. This product would go on to be recognized by PC Magazine as one of the best HR software in the market.
David co-founded Craft Ventures in 2017. The company currently manages assets worth nearly $2 billion and primarily invests in SaaS companies. He’s a fond investor in tech companies. He continues to invest in early-stage SaaS startups.
His latest venture is the Callin app, a ‘social podcasting’ app that combines podcasting with social interaction (think of a live podcast but Clubhouse-style).
- First COO of PayPal
- Founded Geni.com (acquired by MyHeritage)
- Co-founded Yammer (acquired by Microsoft)
- San Francisco Business Times 40 under 40.
- Produced the movie ‘Thank You for Smoking.’
- Interim CEO of Zenefits
- Zenefits Z2 recognized as one of the best.
- Co-founded Craft Ventures.
- Launched the Callin app on App Store.
- After PayPal, I never thought I would get interested in payments again. But bitcoin is fulfilling PayPal’s original vision to create ‘the new world currency.’
- Money is being made programmable. That’s a fundamental change with implications we can still barely see.